Macroeconomics

Inflation in Germany hits a 70-year High

German annual inflation accelerated in September to 10%, hitting the highest level in more than 70 years, according to final unrevised data from Germany's official statistics agency Destatis.

The consumer price index (CPI) rose 1.9 percent in September from August, when it rose 0.3 percent, marking the strongest monthly gain since March, when it jumped 2.5 percent.

Higher rates unlikely to cause deep US recession: Powell

The last time the Federal Reserve faced inflation as high as it is now, in the early 1980s, it jacked up interest rates to double-digit levels and in the process caused a deep recession and sharply higher unemployment.

On Sept. 8 Chair Jerome Powell suggested that this time, the Fed won't have to go nearly as far.

Annual inflation rate at 80 percent

Consumer prices in Türkiye increased by 1.46 percent in August from the previous month, easing from the monthly increases of 2.37 percent in July and 4.95 percent in June, data from the Turkish Statistical Institute (TÜİK) have shown.

Consequently, the annual inflation rate advanced from 79.6 percent in July to 80.2 percent last month.

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