scroll to top arrow or icon

Hard Numbers: US inflation cools down, Russian oil prices heat up, global hunger grows, Pakistan gets relief

Red cart full of dollars to show US inflation

3: Annual inflation in the US continues to fall, coming in at just 3% in June, the lowest rate in more than two years. Still, core inflation — which sets aside volatile costs for energy and food — is still at 4.8%, far above the Fed’s target of 2%.

60.32 The price for a barrel of Russian oil hit $60.32on Wednesday, cracking the $60 price cap that the G7 has tried to impose on Moscow since December. A major factor in the price bump was last month’s decision by the OPEC+ group of oil producers to cut production in order to raise global prices.

783 million: As many as 783 million people — nearly 10% percent of the global population — faced hunger last year, according to the UN. That number rose by more than 120 million since the last study in 2019. Conflict, climate fluctuations, and pandemic-related economic hardships were to blame.

3 billion: Pakistan on Wednesday won approval for a long-awaited $3 billion bailout from the IMF, while also getting a check for $1 billion from the UAE. This came just a day after the Saudis put $2 billion in the Pakistani Central Bank. Pakistan is mired in one of its worst financial crises in recent memory and has neared default several times already this year.


Subscribe to GZERO's daily newsletter