Inflation

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Inflation

Russia’s war economy

18 August 2023 - by Michael Roberts

The currency has been steadily losing value since the beginning of the year and has now slid past RUB100/$. That’s down 26%. The main cause of this decline is the fall in oil export revenues and the rising cost of military spending to prosecute (...)
Pakistan : The IMF deal and its critics

24 July 2023 - by Sushovan Dhar

Pakistan is on the precipice of a financial crisis. The population struggles to cope with ever-dwindling purchasing power, foreign reserves dwindle, inflation soars, and the country faces widespread unrest. Tensions are high as forthcoming (...)
The cost of living and profits

14 July 2023 - by Michael Roberts

The [latest employment report->https://www.oecd.org/employment-outlook/2023 from the OECD is a real eye-opener on the cost of living crisis and whether wage rises or profit rises have been the biggest contributor to the rise in inflation. On (...)
The two Bs on inflation

29 May 2023 - by Michael Roberts

A recent paper by mainstream heavyweights, Ben Bernanke (former Federal Reserve chief) and Olivier Blanchard (former chief economist at the IMF) has raised some eyebrows. Bernanke and Blanchard seek to argue that the inflationary spike in the (...)
Rates up, economy down

5 May 2023 - by Michael Roberts

The two main central banks in the advanced capitalist economies, the US Federal Reserve and the European Central Bank (ECB), raised their ‘policy’ interest rates again this week. The policy rate sets the floor for all borrowing rates in these (...)
Central banks: boom or slump?

3 February 2023 - by Michael Roberts

Three of the major central banks met and raised their policy interest rates yet again in the so-called ‘fight against inflation’. Interest-rate levels are now at 15-year highs. But the financial markets took the comments of the central bankers (...)
Europe: caught in a trap

27 July 2022 - by Michael Roberts

The major economies are moving closer to recession, if they are not already there; and yet inflation rates continue to rise (for now). The latest surveys of business activity, called Purchasing Managers Indexes (PMIs), show that both the Euro (...)
Inflation: wages versus profits

16 May 2022 - by Michael Roberts

The Governor of the Bank of England, Andrew Bailey set the attitude of the mainstream view on the impact of inflation in February, when he said that “I’m not saying nobody gets a pay rise, don’t get me wrong. But what I am saying is, we do need to (...)