United States:
U.S. Inflation Quickens to 8.5%, Ratcheting Up Pressure on Fed
“U.S. consumer prices rose in March by the most since late 1981, bolstering expectations that the Federal Reserve will raise interest rates by half a point next month. The consumer price index increased 8.5% from a year earlier following a 7.9% annual gain in February, Labor Department data showed Tuesday. The widely followed inflation gauge rose 1.2% from a month earlier, the biggest gain since 2005. Gasoline costs drove half of the monthly increase.”
Europe:
U.K. Workers See Biggest Fall in Living Standards in 8 Years
“U.K. living standards fell at the fastest pace in more than eight years in February as wages lagged further behind the rate of inflation.”
Asia:
China’s Li Issues Third Growth Warning as Covid Takes Toll
“China’s Premier Li Keqiang issued a third warning about economic growth risks in less than a week, suggesting heightened concern about the outlook as widespread Covid lockdowns disrupt production and spending.”
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