United States:
U.S. CPI Exceeds Forecast, Fanning Fears of Inflation
“Prices paid by U.S. consumers rose in May by more than forecast, extending a months-long buildup in inflation that risks becoming more established as the economy strengthens. The consumer price index climbed 0.6% from the prior month after a 0.8% jump in April that was the largest since 2009. Excluding the volatile food and energy components, the so-called core CPI rose by a larger-than-forecast 0.7%, according to Labor Department data Thursday.”
Europe:
ECB Renews Pledge on Faster Buying to Ensure Crisis Rebound
“The European Central Bank renewed its pledge to maintain faster emergency bond-buying despite significant upgrades to its outlook for growth and inflation, as it attempts to sustain the euro area after more than a year of debilitating economic crisis. “Uncertainties remain as near-term economic output depends on the course of the pandemic, and how the economy responds after reopening,” President Christine Lagarde said Thursday after officials pledged to keep asset purchases at a “significantly higher” pace than in the first months of 2021.”
Asia:
Medical Debts Bankrupt Indians Already Ravaged by Virus
“In the shadows of the Taj Mahal, shoemaker Shyambabu Nigam worked for years to save enough money to buy his wife Anju a small house with a view of the iconic 17th century mausoleum. Yet in just a matter of months, they were forced to give it up. After Anju fell seriously ill with Covid-19 last year, the couple turned to a mix of subsidized government hospitals and more expensive private clinics to treat the illness and pay for two open-heart surgeries that followed. The total costs amounted to more than 600,000 rupees ($8,230) — roughly six times Nigam’s annual income.”
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