August 9, 2023
United States:
First American City to Tame Inflation Owes Its Success to Affordable Housing
No place in the US has put inflation in the rearview mirror quite as fast as Minneapolis.
In May, the Twin Cities became the first major metropolitan area to see annual inflation fall below the Federal Reserve’s target of 2%. Its 1.8% pace of price increases was the lowest of any region that month.
Europe:
Germany to Raise Carbon Price to €40 in 2024, €50 in 2025
Germany will lift the cost of carbon dioxide pollution rights for the housing and transportation sectors to €40 per ton in 2024 and to €50 per ton in 2025, according to people familiar with the matter.
Increasing the price — currently at €30 per ton — will translate to consumers paying roughly 3 cents more per year for each liter of gasoline or diesel, said the people.
Asia:
China Deflation Provides Limited Relief for Global Central Banks
China’s consumer and producer prices fell together for the first time since 2020, a deflation cycle that could give global central banks some help in fighting inflation in their own countries but signals a worsening outlook in the world’s second-largest economy.
The consumer price index registered its first decline in more than two years, falling 0.3% in July from a year earlier, the National Bureau of Statistics said Wednesday. Producer prices fell for a 10th consecutive month, contracting 4.4%.
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