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inflation

US Inflation Rises 7% Over the Course of 2021

Inflation rose 7% over the course of 2021 in the United States, the largest increase since 1982. The United States Labor Department released a survey of the country's consumer price index on Wednesday, finding that the cost of goods...

Inflation in Turkey Soars to 36%; Experts Say Could Reach 50%

Inflation in Turkey soared to 36%, the highest in Erdogan era, and it may be headed for the stratosphere, up to a possible 50%, some experts say. With prices for food and drink up nearly 44% annually, Turkey's economic status...

Elon Musk Holds Business Talks with Turkish President Erdogan

Tesla and SpaceX CEO Elon Musk held talks about space with Turkish President Recep Tayyip Erdogan on Thursday. Musk and Erdogan talked at length about space technology as well as electric self-driving cars. Erdogan's official Twitter account said that the...

Turkish Lira Hits New Low Point, Plunging 5.6%

The Turkish lira dipped another 5.6%, hitting record lows against the US dollar on Thursday after the country's central bank slashed its policy rate in line according to the unorthodox economic scheme created by President Tayyip Erdogan. The currency hit...

Bread Lines Grow in Turkey as Inflation Rises

Bread lines spanned blocks in Istanbul, Turkey on Monday as inflation rises. Scores of Istanbulites have turned to the city's subsidized bread program, Istanbul Halk Ekmek (which translates to "Public Bread"), in order to save money as the Turkish lira...

Bitcoin Surges as Inflation Fears Hit the US

The value of Bitcoin rose on Friday after a new report found that U.S. consumer prices are growing at the fastest rate since 1982. The cryptocurrency climbed 4.4% to $50,101 after the report on inflation became public. This surge is...

Inflation Surge Hits United States, Greece

The scourge of inflation is hitting the United States and Greece hard this holiday season, with high prices for fuel oil and gas causing reverberations throughout the entire economy of the world. Consumer prices in the US rose 6.8% in...

Crisis in Turkey Forces Vendors to Sell the Delicacy Koulouri Cut in Half

The economic crisis and spiraling price rises in Turkey have forced street vendors to sell their iconic bread koulouri, or as Turks call it “simit”, cut in half. Turkish citizens are having increasing difficulties coping with the rising prices of...

Why Thanksgiving Turkeys are Much More Expensive This Year

The American Farm Bureau reported on Monday that the prices of Thanksgiving turkeys and other holiday meal mainstays have skyrocketed in 2021. The Bureau estimates that the cost for entire Thanksgiving meal has gone up 14% from last year,...

US Inflation Now at Highest Rate in 30 Years

Inflation in the United States is now at its highest rate in 31 years, according to economic experts -- and "it won't get better until it gets worse," topping out perhaps in January of 2022, before it subsides. Prices for...