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.”
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.”
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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