energy economic indicators

Interest rates: European Central Bank sets record hike to fight inflation

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London CNN Business — The European Central Bank raised interest rates by a record three-quarters of a percentage point on Thursday and promised more action to come as it struggles to contain the inflationary fallout of the invasion of Ukraine by Russia and the ensuing energy crisis. This decision will bring the reference rate of … Read more

This closely watched measure of inflation showed some cooling in July

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Minneapolis CNN Business — The Federal Reserve’s favorite inflation gauge showed prices took a breather last month as fuel costs continued to fall from record highs. The personal consumption expenditure price index rose 6.3% for the year to July, down from 40-year high of 6.8% recorded in June, according to data published by the Bureau … Read more