Inflation keeps defying tariff fears
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The threat of inflation falling short of the European Central Bank’s 2% target is contained, Vice President Luis de Guindos told Reuters.
Tariffs will weigh on euro zone economic growth and prices for years, but there is little risk of inflation falling too low, and even the euro's surge against the dollar is not a major worry, European Central Bank Vice President Luis de Guindos said.
The average rate on 30-year fixed home loans from Freddie Mac ticked down again to 6.84% for the week ending June 12.
The latest Producer Price Index, a closely watched measurement of wholesale inflation, rose 0.1% in May, lifting the annual rate to 2.6%, according to Bureau of Labor Statistics data released Thursday.
India's wholesale inflation in May slowed to 0.39% year-on-year from 0.85% in April, government data showed on Monday.
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The consumer price index increased 0.1% for the month of May, lower than economists' predictions, with the annual rate reaching 2.4%.
The average hourly earnings for private sector workers in Michigan has increased at nearly the same rate as inflation in the past five years.
Israel's annual inflation rate eased more than expected to 3.1% in May, official data showed on Sunday, although it is still slightly above target and the escalation of the country's conflict with Iran poses additional risks to the outlook.
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