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Zelensky lectures Americans on inflation and Covid

Ukrainian President Vladimir Zelensky has told British broadcaster Piers Morgan that inflation and coronavirus are “nothing” compared to Ukraine’s struggle, and Americans should support aid for Kiev “until we win.” As the US grapples with a 40-year-high inflation rate and record gas prices, multiple polls name these economic concerns as …

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European inflation forecast raised

Inflation will hit 7.6% in the Eurozone and 8.3% in Europe as a whole this year, according to the European Commission’s revised forecasts on Thursday, 1.5% up on the previous predictions. In May, the EU’s executive arm projected Eurozone inflation to hit 6.1% this year, before falling to 2.7% in …

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Inflation in France highest in decades

Consumer prices in France have reached their highest rate in over three decades, data from the state statistics agency INSEE showed on Wednesday. According to the report, inflation in the country increased by 0.9% in June from the month before, driving annual inflation to 6.5%, its highest level since 1991. …

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Pelosi blames inflation on wrong conflict

Speaker of the US House of Representatives Nancy Pelosi claimed on Thursday that the coronavirus pandemic and the “war in Iraq” were responsible for the soaring cost of living in the US. Pelosi’s own office corrected her statement to read “Ukraine,” in keeping with the rhetoric of her fellow Democrats. …

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German inflation nears 50-year peak

Annual inflation in Germany accelerated to 7.9% in May, final estimates from the country’s Federal Statistical Office (Destatis) show. In May alone, consumer prices rose by 0.9%, after jumping 0.8% in April. According to the agency’s press release on Tuesday, it’s the largest inflationary spike to hit Europe’s largest economy …

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Capitol ‘insurrection’ deniers blamed for inflation

Economist Larry Summers, an advisor to two Democrat presidents and treasury secretary under Bill Clinton, has found a new culprit behind America’s inflation crisis: Republicans who downplay the severity of the January 2021 US Capitol riot. “I think the banana Republicans who are saying that what happened on January 6 …

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Inflation in Denmark hits 40-year high

Consumer prices in Denmark in May were 7.4% higher than a year earlier, official data released on Friday shows. That is the highest 12-month inflation recorded in the country since 1983, The Local reports. The rise has been blamed on soaring electricity, energy and food prices. According to Mathias Dollerup …

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US inflation accelerates to 40-year high

US inflation hit the highest level since 1981 in May, US Labor Department data showed on Friday. Consumer prices soared 8.6% in May from 12 months earlier, faster than April’s year-over-year surge of 8.3%. On a monthly basis, prices grew by 1% from April to May, a steep rise from …

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Biden attempts to blame Putin for inflation

US President Joe Biden on Friday blamed Russian President Vladimir Putin for the record gas prices and 40-year-high inflation currently rocking the US. Amid dismal polling figures, Biden insisted that his administration is attempting to curb runaway costs.  Speaking at the Port of Los Angeles, Biden touted his administration’s efforts …

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US blames ‘global challenges’ for record inflation

The White House on Tuesday insisted that “global challenges” such as the conflict in Ukraine, and not President Joe Biden’s policies, are to blame for inflation in the US. Biden’s press secretary Karine Jean-Pierre insisted the economy remains strong and the government is in a “good position” to tackle the current headwinds. “What …

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