G8 fears inflation could halt growth
Summary from multiple countries, from articles in English
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The good news in yesterday's report is that core inflation - which excludes volatile food and energy prices - rose by only 0.1 percent. (article 2)
The Bank of England, seeking to maneuver between accelerating inflation and a slowing economy, left its main interest rate target unchanged at 5 percent on Thursday. (article 1)
Jean-Claude Trichet sounded the alarm on Wednesday over the spill-over effects of soaring oil prices, saying "first signs" were emerging that inflation dangers had spread into eurozone labour markets. (article 4)
Mr Trichet's comments in the European Parliament highlight the ECB's fear that wage growth is accelerating worryingly across the 15-country eurozone, threatening its attempts to bring high headline inflation rates back under control. (article 4)
In December 2004, the year his government took office, Manmohan Singh warned that India's system of subsidies, particularly those covering fuel and energy, was unsustainable. (article 5)
The following year, in a speech marking the first 12 months in office of the United Progressive Alliance, the Congress party-led ruling coalition, Mr Singh once again railed against "wasteful subsidies". (article 5)
That rate is more than double the ECB's target and lead the bank increasing its key interest rate to 4.25% last week. (article 3)
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Other summaries about this story:
Other stories about inflation, Prices and rates:
Event tracking:
Story keywords
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inflation, Prices, rates, Bank, growth |
Source articles
- Britain Leaves Interest Rate at 5% (nytimes.com, 07/11/2008, 274 words)
- Food prices climb almost 1% in April - (baltimoresun.com, 07/11/2008, 444 words)
- Trichet voices inflation concerns (BBC News, 07/09/2008, 234 words)
- Trichet steps up inflation warnings (ft.com, 07/09/2008, 504 words)
- Rising prices pile the pressure on India’s UPA (ft.com, 07/09/2008, 1083 words)
- G8 fears inflation could halt growth (BBC News, 07/09/2008, 541 words)
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