(Bloomberg) In a region known for rampant inflation, one country now has falling consumer prices. Most Read from BloombergEverything Apple Plans to Show on Sept. 12: iPhone 15, Watches, AirPodsBoss of Failed Crypto Exchange Gets 11,000-Year SentenceCalifornia Shows an Electric-Car Uprising Headed for the USUS Probes Made-in-China Chip as Tensions Flare Over TechnologyHong Kong to Ease Shutdown After Record Rain Overwhelms CityCosta Rica’s prices plunged 3.3% in August from a year earlier, the
Rampant inflation has been a pressing issue for both the U.S. government and the Federal Reserve. President Biden signed the Inflation Reduction Act into law over a year ago, while the Fed has raised interest rates aggressively to stabilize price levels. But according to Peter Schiff, CEO and chief global strategist at Euro Pacific Capital, these measures have not been effective. “Bidenomics and Fed rate hikes have both failed,” he said in a recent post on X, formerly known as Twitter. Don’t Mis
The council of the UK's second biggest city, Birmingham, became Tuesday the latest local authority to declare financial distress, with the opposition blaming Conservative governments of years of under-funding.Thurrock Council in Essex, east of London, also declared itself in financial distress in December last year while Woking Borough Council, southwest of the capital, did the same in June.
(Bloomberg) New Zealand’s main opposition National Party launched its bid to unseat the Labour government with a pledge to reduce inflation and boost the economy if it wins the October election.Most Read from BloombergTesla’s $41,000 Model X Discount Unlocks Subsidies Musk Wanted GoneCovid Is Back. Is It Time to Pull Out Our Masks Again?BMW Unwraps Next-Generation EV to Take on Tesla, China’s BYDJimmy Buffett, Singer Who Spun Margaritas Into Gold, Dies at 76Mohamed Al Fayed, Tycoon Who Clashe