Inflation

Economy

Euro Area Inflation Revised Down to 3.2% in August

EPA-EFE/JULIEN WARNAND

The euro area’s annual inflation rate went up to 3.2% in August, Eurostat said in its final release, down from the previous estimate of 3.3%. The August rate was higher than July’s 2.9% rate and a year ago’s 2%. Consumer prices increased 0.4% from the previous month. Energy continued to be the largest contributor to inflation, up 14.3% from a… Continue reading Euro Area Inflation Revised Down to 3.2% in August

Economy

US Diesel Prices Surge Above $6 for First Time

Lauren Owens Lambert/Reuters

The average price of diesel in the U.S. exceeded $6 per gallon for the first time, exacerbating inflation worries amidst continuing fuel supply disruptions. AAA reported the national average on Friday was $6.06 per gallon, beating the record of $5.82 which occurred during Russia’s invasion of Ukraine in 2022. Fuel prices also went up, to $4.29 per gallon of gasoline.… Continue reading US Diesel Prices Surge Above $6 for First Time