Inflation in Venezuela hits 1,300,000%, opposition-led Congress claims

Venezuela’s National Assembly, an opposition-controlled legislative body, said annual inflation has reached 1,300,000 percent in November as the country struggles through its worst economic crisis ever. At the same time, the rate of monthly inflation has gradually decelerated during three months through November. According to the report by the National Assembly, the figure declined to […]

Paul Volcker’s memoir invites a rethink of the fight against inflation

PAUL VOLCKER’S legend is almost as grand and imposing as his physical personage, all six feet and seven inches of it. In 1979 President Jimmy Carter chose him to run the Federal Reserve and tackle America’s high inflation. Mr Volcker acted with grim determination, tightening monetary policy even as the economy sank into deep recession […]

A cryptocurrency is making huge inroads in Venezuela as inflation runs wild — and it’s not bitcoin or the Petro

Ryan Taylor/Dash Core Group Venezuela is currently suffering from hyperinflation and the president recently devalued the currency by 95%. Locals are turning to cryptocurrencies as a more stable store of value and means to transact. 200 merchants per month are signing up to accept Dash in Venezuela, according to the Dash Core Group, and the […]

Turkey’s central bank has streamlined its fight against inflation

THE baroque era in Turkish architecture lasted deep into the 19th century, leaving behind lavish buildings, such as the Lily Mosque in Istanbul and waterside pavilions that seem to float on the Bosphorus. The baroque period in Turkish monetary policy will last until June 1st, when the central bank will simplify its equally ornate monetary-policy […]

How kidnapping insurance keeps a lid on ransom inflation

IN THE early 1970s, leftist guerrillas in Argentina discovered a lucrative new way to make money: kidnap millionaires. Panicking firms would agree to huge ransoms, more concerned with freeing their executives than driving down the fee. That was not just bad for businesses. It also became a textbook case of how poor negotiating can send […]

Nigeria’s top statistician tweeted the country’s latest inflation data an hour early — and blamed a non-existent time difference between Nigeria and London

Nigeria’s top statistician tweeted the country’s latest inflation data one hour early. He blamed the fact that his watch was on “London time” — despite London and Nigeria being in the same time zone. The country’s inflation rate fell to 13.34% from 14.33% in March. The head of Nigeria’s statistical authority made an embarrassing blunder […]

Japanese wages are still going backwards after inflation

REUTERS/Eddie Keogh Annual wage growth in Japan has fallen in real terms in each of the past three months. That appears to be impacting household spending which fell heavily in the year to February. Falling real wages are crimping the purchasing power of households, placing downside pressure on consumption and inflationary pressures. Japan’s unemployment rate […]

Inflation in Russia lower than America's for first time in history

Low inflation is not always good for the economy. However, for Russia, whose economy has been dominated by skyrocketing inflation after the collapse of the Soviet Union, it’s a good sign. Inflation in Russia now stands at 2.18 percent, and for the first time ever it is lower than US inflation, which is currently 2.2 […]

Inflation rises more than expected after scare that rocked global markets

Matt Cardy/Getty Images Inflation rose more than expected in January, according to a keenly awaited report released on Wednesday.  The Bureau of Labor Statistics’ consumer price index, which tracks price changes of a basket of consumer goods, rose 2.1% year-on-year in January. That’s higher than the Federal Reserve’s 2% target, although the central bank prefers to […]