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Inflation is rising but the reasons why are changing

Americans have witnessed some wild price hikes over the past few months. Shortages and supply chain issues across the world have sent the cost to make and move goods soaring and left consumers paying up. Since then, prices for some pandemic favorites — such as lumber — have leveled off. But even as the economy returns to something closer to normal, inflation remains unrelentingly high. It s a dramatic change from the pre-pandemic state of affairs and another example of how the coronavirus crisis is reshaping the economy and everyday life. See here: Used car prices soared in part because lockdowns led many city-dwellers to buy cars, and because new car production was hampered by shuttered plants and chip shortages. In the year ended in May, used car prices were up nearly 30%, according to the Bureau of Labor Statistics.

Gold prices dip as dollar claws up, equities firm dimming metal s appeal

By Eileen Soreng (Reuters) - Gold prices eased on Monday as a slightly stronger dollar and buoyant equities dimmed the safe-haven metal s appeal, with investors awaiting U.S. inflation data and Federal Reserve Chairman Jerome Powell s testimony this week. Spot gold fell 0.2% to $1,803.56 per ounce by 0341 GMT. U.S. gold futures were 0.4% lower at $1,803.9. There could be reduced demand for safety and hedge against market volatility, said Margaret Yang, a strategist at DailyFX. However, the near-term trend for gold seems to be biased towards the upside, with the immediate resistance at $1,815 and support at around $1,790, Yang added. Asian shares rallied after Wall Street posted record closing highs on Friday, while the dollar index inched 0.1% higher.

EUROPEAN MIDDAY BRIEFING : European Aviation -2-

EUROPEAN MIDDAY BRIEFING : European Aviation -2-
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