2015 Event The U.S. Federal Reserve has cut its 2015 inflation and economic growth predictions for the U.S. and will likely wait until at least June of this year to raise interest rates 2014 Event Labor unions of workers in the public sector went on strike across the U.K. to protest wage increases below the rate of inflation; unions claim that over one million workers participated 2014 Event Scientists using the BICEP2 telescope identify evidence for cosmic inflation; if confirmed, this evidence will provide support for the Big Bang Theory of the origin of the universe 2014 Event The European Central Bank announces its readiness to ensure that interest rates will remain steady or decrease as inflation rises 2014 Event The Brazilian government plans to cut its spending by almost $19 billion this year in an effort to reduce the country's debt and inflation growth; economists have revised current year GDP and next year's growth forecast downward in recent weeks 2014 Event Venezuelan President Nicolas Maduro announces plans to raise the price of gas to 17 cents from 6 cents; the country's annual gas subsidy's cost $12 billion, too much to bear when facing 50 percent inflation and dwindled cash reserves 2011 Event In Shanghai, Chinese lorry drivers continue their second day of protest against rising inflation 2011 Event James Bullard, President of the Federal Reserve Bank of St. Louis calls for the Federal Reserve to limit its purchase of U.S. Treasuries because they 'feed the fire' of inflation 2011 Event Inflation in the People's Republic of China reaches 4.9% 2010 Event China's inflation rate reaches 5.1%, a 28-month high 1989 Event Argentina, hit by rocketing inflation, runs out of money 1776 Event Rhode Island establishes wage and price controls to curb inflation: Limit is 70 cents a day for carpenters, 42 cents for tailors
