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Europe · Brussels

Eurozone inflation rose to record high of 8.6% in June

67% Center coverage: 15 sources
Euro zone inflation reached a new record high in June just ahead of the European Central Bank’s first rate increase in 11 years. Fuel prices rose by 41.9% in June while food costs increased by 11.1%. Russia's attack on Ukraine has fueled a climb in energy prices and they were the main driver of the on-year increase.See the Story
Business · Washington

U.S. Stocks Open Lower as Inflation Persists

54% Center coverage: 13 sources
U.S. futures slipped Friday after the government reported that inflation surged 8.6% in May compared with last year, even more than economists had expected. Shares were mostly lower in Asia on Friday, with only Shanghai rising, after stocks tumbled on Wall Street on expectations central banks will focus on battling inflation with interest rate hikes.See the Story
Business · Washington

Feds warn of scams amid infant formula shortage

64% Center coverage: 11 sources
The FTC said that scammers are trying to trick desperate parents into paying steep prices for formula that never arrives.See the Story
Business · Washington

10-Year Treasury Yield Hits 3% for First Time Since 2018

60% Center coverage: 10 sources
The worst bond rout in decades hit a new milestone Monday with the yield on the 10-year Treasury reaching 3% for the first time since late 2018.See the Story
Business · Washington

U.S. consumer spending beats forecasts in March; inflation soars

67% Center coverage: 9 sources
U.S. inflation-adjusted consumer spending rose in March despite intense price pressures. The gain was driven by services, while merchandise buying dropped. The figures show that even as consumer prices continue to grow at the fastest rate in decades, demand is strong enough to outpace inflation.See the Story

Consumer sentiment plunges to record low in June, according to University of Michigan survey

50% Right coverage: 6 sources
The University of Michigan's gauge of consumer sentiment fell sharply to a record-low reading of 50.2 in June. Economists polled by the Wall Street Journal had expected an June reading of 59.4. The level is comparable to the low point reached in the middle of the 1980 recession, the university said.See the Story
Business · Washington

Tim Cook cautions against antitrust legislation

62% Center coverage: 8 sources
Apple CEO Tim Cook warns of the privacy and security risks of allowing apps to be installed on iPhones from outside of its app store. Cook's comments echo a warning that Apple and Google have issued as policymakers draft legislation that would make the companies let consumers install apps from outside their app stores.See the Story
Economy · Spain

Canaria in the coalmine? Spanish inflation rate notches a 37-year high of 10.2%.

Coverage: 2 sources
Consumer prices in Spain rose 10.2% in June, according to the Instituto National de Estadistica. That increase was sharply higher than the consensus estimate of 9.2%. The inflation jump was driven by the cost of fuel, food and nonalcoholic beverages, and higher prices for hotels, cafes and restaurants.See the Story

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