Citi projects UK inflation to breach 18% in January as energy prices skyrocket
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In a research note dated Sunday, the U.S. banking giant updated its forecasts for the consumer price index and retail price index to 18% and 21%, respectively, in the first quarter of 2023.
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Energy regulator Ofgem will this week announce the scale of the next price cap increase from Oct. 1, and Citi expects a rise to £3,717 per year ($4,389) from the current £1,971 for an average household.
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Germany’s inflation rate could hit 10% this fall, the country’s chief central banker told Rheinische Post.
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The country is dealing with an energy crisis as Russian natural-gas supplies slow.
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On Friday, Gazprom announced an unscheduled three-day shutdown of a key gas pipeline from August 31.
Germany’s inflation rate could surge over 10% this fall — the highest in seven decades — on the back of the country’s energy squeeze, the country’s central bank chief Joachim Nagel told the Rheinische Post last week.
Germany ruling out extending their last 3 nuclear power plants. Will shut them down Dec 31, 2022 in the middle of winter with a natural gas shortage and electricity rates at 10x normal. pic.twitter.com/B9LWsOYSVC
— Wall Street Silver (@WallStreetSilv) August 21, 2022
Europe’s gas price is now equivalent to $410 per barrel of oil
🇪🇺 energy and utilities corporate debt is now over 1.7 trillion euros.. up more than 50% since before 2020
As the energy crisis continues… more and more factories are shutting down
ECB interest rate?
Still ZERO— Gold Telegraph ⚡ (@GoldTelegraph_) August 21, 2022
So gas bill (NYC) up 3x from same period last year. US thought is was immune? Freeport still closed, and winter is not here yet pic.twitter.com/Hp8YumAnm1
— Gianluca (@MenthorQpro) August 21, 2022
BREAKING: US natural gas prices hit 14-year high
— The Spectator Index (@spectatorindex) August 22, 2022