Azerbaijan lowers refinancing rate
The Central Bank of Azerbaijan lowered the discount rate today from 8% to 7.75% According to the bank, the top limit of the interest rate …
Inflation
Turkish inflation quickens to highest level in 2023
Turkey’s consumer inflation accelerated to its highest level this year as household energy use exceeded state support for natural gas consumption. Prices rose an annual 62% through November. Monthly inflation was 3.28%, …
Türkiye raises minimum wage again
For the second time in 6 months, Türkiye will increase the minimum wage. It will grow by 34% from July 1. This decision will increase the purchasing power of citizens.
Bank of Russia forces 4-percent inflation
Inflation in Russia will return to target levels in 2024. In 2023, inflation will range from 4.5 to 6.5%
IMF expects global inflation to slow down
At the World Economic Forum in Davos, Gita Gopinath, deputy managing director of the IMF, signalled that the fund would upgrade its economic forecasts. Instead of predicting a “tougher” 2023, she now expected an …
Qatar inflation surges 6% following World Cup hosting
Qatar’s inflation surged 5.93 percent year-on-year in December 2022 largely as a result of a rise in the prices of recreation and culture, according to data from the Planning and Statistics Authority. …
Egypt to sell discounted bread to fight inflation
Egypt’s government will start selling discounted bread to people not enrolled in its bread subsidy program as it battles accelerating inflation, the supply minister Ali Moselhy said. …
Eurozone inflation hits record breaking 10.7% in October
Inflation in the Euro area in October set another record reaching 10.7% year-on-year, statistical agency Eurostat announced on Monday. "Euro area annual inflation is expected to be 10.7% in October 2022, up from 9.9% in …
Fitch improves Azerbaijan's 2022 GDP growth forecast
The international rating agency Fitch Ratings improved the forecast for Azerbaijan's GDP growth from 3.6% (April forecast) to 4.3% in 2022. In 2023-2024, the country's GDP growth is expected to be at the level of 2.3% per …
German annual inflation rate hits record-high in September
Germany’s annual inflation rate stood at 10% in September, the highest on record since the country’s reunification in 1990, according to official data released on Thursday. “Enormous price rises for energy products …
Russia’s annual inflation down to 13.49%
Annual inflation in Russia slowed down to 13.49% from September 27 to August 3 from 13.71% a week earlier, the Russian Ministry of Economic Development says in its price review. "The moderate price increase was registered over the …
Egyptians turn to credits
In the past, locals used to buy only durables in installments
Turkey's inflation hits new 24-year high beyond 80%
Turkey's annual inflation climbed to a fresh 24-year high of 80.21% in August, a bit below expectations according to official data,after the central bank unexpectedly cut interest rates and stoked a cost-of-living crisis. Despite …
Euro zone annual inflation hits new record high in July
The Euro zone annual inflation hit a new record high of 8.9% in July, up from 8.6% in June, according to official figures on Thursday. The figure was 2.5% last year. The highest contribution to the annual euro area inflation …
Azerbaijan's Central Bank predicts gradual decline in inflation
According to forecasts, annual inflation in Azerbaijan will gradually decrease to single digits with a favorable change in external factors in 2023, Governor of Central Bank of Azerbaijan (CBA) Taleh Kazimov said at a press conference on …
UK inflation at new 40-year high worsens living standards crisis
UK inflation hit a new 40-year high in June, intensifying the cost of living crisis and heaping pressure on the Bank of England to deliver an aggressive interest-rate increase next month. Consumer prices rose 9.4% from a year earlier, …
EU cuts euro zone growth forecasts
The European Commission cut its forecasts for economic growth in the euro zone for this year and next and revised up its estimates for inflation on Thursday. The EU executive now predicts growth of 2.6% this year for the 19-country …
Inflation in Kazakhstan climbs to highest since 2015
Kazakh President Kassym-Jomart Tokayev said that Kazakhstan has developed steadily despite complicated geopolitical challenges, according to Kazinform. In his address to the extended session of the Kazakh Government, the head of state …
Five ways that the super-strong US dollar could hurt the world economy
The US dollar has been on a major surge against major global currencies in the past year, recently hitting levels not seen in 20 years
Jeff Bezos clashes with Biden administration over inflation
After U.S. President Joe Biden called on companies running gas stations to lower the price of gas, Jeff Bezos accused the U.S. president of misleading the public or said he lacked a "basic" understanding of the forces that …
