White-hot inflation

News of the day, Wednesday, February 16

Elon Musk has announced that SpaceX now has more than 250,000 user terminals using Starlink — an innovative Internet-providing service using satellites to transfer data. If 250,000 people actively use Starlink terminals, it means that SpaceX gets a $25 million monthly revenue.

The United Kingdom inflation has reached an approx. 30-year high rate. 5.5% is the biggest inflation since 1992. The Bank of England has raised the interest rate two times since December: by 0.5% and 0.1%. The central bank of England doesn’t expect inflation to rebound to the previous 2% rate until 2024. The increasing energy prices have been the most significant factor of inflation increase in the UK, along with other supply chain-related issues resulting in price increases.

CDC decreases travel warning for cruise ships. The Centers for Disease Control and Prevention has shortened its travel health alert for cruise ferries from “very high” to “high” on Tuesday. The Cruise Lines International Association replied that the level adjustment is “a step in the right direction”.

The price of Brent crude is $94.51, WTI — $93.17, GBP/USD — 1.3558, EUR/USD — 1.1383, and gold costs $1856.45 per ounce.