Inflation

Gen Zers coming home for the holidays on mom and dad’s dime, study says

Travel demand has surged this year, although not everyone can afford the sky-high tab. Along with rising costs for hotels and rental cars, travelers can expect to pay up to 39% more for a round-trip flight around Christmas compared with last year, according to data from the Hopper travel booking app. Young adults, in particular, …

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Looming Recession May Be The Energy Transition’s Biggest Threat

Raw material costs and looming shortages: these have been the dangers on the path of the world’s energy system transition from fossil fuels to low-carbon alternatives. Until inflation and recession reared their twin heads. Since the start of the year, economies in Europe and North America, previously stalwarts of economic growth, even with hiccups such …

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Who are the eager beaver holiday shoppers unhindered by inflation? Gen Z

New York CNN Business — There’s at least one group of shoppers excitedly hitting malls this holiday season — and they don’t seem to be too bothered about pesky inflation eating into their discretionary dollars. They’re Gen Z. And the way they shop matters. This cohort of consumers born between 1997 and 2012 is among …

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Why are workers going on strike around the world? | Business and Economy

From: Counting the Cost A growing number of strikes and labor protests is threatening industries all over the world. Energy, food and mortgage costs are at their highest in decades in many countries. And the rising cost of living is eating into workers wages. Rapidly rising prices have already pushed more than 70 million people …

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Bank of Canada expected to deliver interest rate hike next week. How high will it go? – National

The Bank of Canada is expected to conclude a historic year marked by high inflation and aggressive monetary policy tightening with one more interest rate hike on Wednesday. Forecasters anticipate the central bank will raise its key interest rate, which is currently at 3.75 per cent, by either a quarter or half a percentage point …

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35% of millionaires say they won’t have enough to withdraw, report finds

A cool $1 million is not what it used to be. There are more millionaires in the US and globally than ever before, with nearly 24.5 million millionaires nationwide as of 2022, according to the latest Global Wealth Report from the Credit Suisse Research Institute. Even so, having seven figures in the bank offers less …

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Key inflation measures that the Fed follows rose 0.2% in October, less than expected

Inflation rose in October about in line with estimates, sending a sign that price increases at least might be stabilizing, the Commerce Department reported Thursday. The core personal consumption expenditures price index, a gauge that excludes food and energy and is favored by the Federal Reserve, rose 0.2% for the month and was up 5% …

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Fed Chair Jerome Powell says smaller rate hikes could come in December

WASHINGTON – Federal Reserve Chairman Jerome Powell confirmed Wednesday that smaller interest rate increases are likely ahead even as he sees progress in the fight against inflation as largely inadequate. Echoing recent statements from other central bank officials and comments at the November Fed meeting, Powell said he sees the central bank in position to …

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Euro zone inflation rate eases to 10% in November as energy prices slow

Markets track the latest inflation data out of the euro zone ahead of a new ECB meeting. Julien DeRosa | dpa | Getty Images Inflation in the euro zone slowed slightly in November, according to preliminary figures out Wednesday, with prices coming off record highs and missing analyst expectations. Consumer prices have been sky high …

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