Besides the unemployed, nobody is getting hurt worse in this economy than seniors. Prices on many commodities are skyrocketing, but the Consumer Price Index, which is the yardstick used to adjust Social Security for inflation,…
China hiked its interest rates for the first time since 2007 in a bid to combat rising inflation.
The People’s Bank of China raised its one-year deposit rate to 2.5% from 2.25%, while the lending rate rose to 5.56% from 5.31%, Bloomberg News said.
Inflation rose to 3.5% in August, highlighting the risk of an overheating economy. China, the world’s second-largest economy, grew at an…
Continue reading China Raises Interest Rates For First Time Since 2007
China Raises Interest Rates For First Time Since 2007 originally appeared on DailyFinance on Tue, 19 Oct 2010 08:02:00.
Filed Under: Economy, Currency, Market News
The price of corn has shot up 8% during the week of Oct. 11 alone, bringing the total rise to close to 50% in the last three months. As farmers cull herds to save feed costs, meat supplies will shrink — and the price of hambur…
Even as overall costs for consumer goods rose 0.1% in September, prices for used cars fell 0.7%. It was the first such drop since just before the federal government’s “cash for clunkers” rebate program began in July 2009.
…
The current flatness in prices isn’t what the Federal Reserve wants. It would much rather see a little more inflation in the economy. Says Great Depression scholar Ben Bernanke: “Further disinflation would be unwelcome.” The Fe…