— US consumer inflation was up 9.1% annualized in June, the highest yearly rise since 1981, with nearly half of this due to higher energy costs.
— US retail spending rebounded in June, increasing 1%; this amount is not adjusted for inflation but indicates consumers keeping up with rising prices.
— The US dollar achieved parity with the euro, the first time since 2002, on fears that Europe’s dependency on Russian natural gas will force region into recession.
— China’s economy grew just 0.4% in the 2nd quarter of 2022 vs. 4.8% in the 1st quarter, as Covid lockdowns took a toll on consumer spending and production.
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