Zimbabwe inflation hits new high
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Zimbabwe's annual inflation rate has reached a new record high of more than 1,200 percent in August despite the conversion to a new currency designed to halt the upwards spiral.
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India's wholesale price inflation surged to a new 3-1/2-year high of 7.96 percent in the week ended August 7 due to higher energy and manufactured product prices, prompting the government to slash duties on steel.
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Higher oil prices pushed up inflation in the UK and sent factory prices in the US to a 15-year high, according to official figures released on both sides of the Atlantic yesterday.
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Twelve-month inflation rose to 2.7 percent in November, the highest level since Labour came to power in 1997, official data has shown.
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The price of gold soars to a new record, driven by concerns about inflation and strong oil prices.
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Zimbabwe is to print new banknotes in an effort to tackle the cash shortages afflicting the country.
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WASHINGTON -- Wholesale inflation shot up in 2007 by the largest amount in 26 years even though falling gasoline costs allowed price pressures to moderate in December.
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Wholesale costs -- catapulted by more expensive energy and food -- soared last month by the largest amount in more than 14 years. With inflation at the producer level accelerating sharply after months of being
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Zimbabwe's currency plunged to new depths on Friday as the U.S. ambassador to Harare predicted galloping inflation will force President Robert Mugabe from office before the end of the year.
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Inflation in Zimbabwe leaps to a record annual rate of 1,593.6% in January as the economy faces chronic shortages of food and fuel.
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Wholesale inflation rose last month at the fastest pace in more than 14 years, largely because of steep jumps in energy and food costs, the government reported yesterday, raising concerns that businesses may be under growing pressure to raise consumer prices.
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Inflation in the eurozone climbed to 2.4% in October as a result of higher fuel prices, the latest official statistics show.
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Business & money: Annual house price inflation reached its highest rate in more than two years in July.
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Consumer prices rose 7.1 percent, the largest increase in more than a decade.
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New banknotes, including a 10 million dollar bill, will go into circulation in inflation-ravaged Zimbabwe this week, the central bank's governor said on Wednesday.
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Zimbabwean retailers, manufacturers and wholesalers have been told to cut the prices of basic goods in half in the latest bid to rein in runaway inflation, a cabinet minister announced Tuesday.
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The monthly average bill for urban households in inflation-ravaged Zimbabwe shot up by 49.5 percent last month, figures compiled by the main consumer watchdog showed on Friday.