Inflation

Federal Reserve’s preferred inflation gauge shows price pressures easing further

A measure of prices that’s closely tracked by the Federal Reserve suggests that inflation pressures in the U.S. economy are continuing to ease.

Stock market today: Stocks edge lower on Wall Street, ending a 3-week winning streak for the S&P 500

The Czech central bank again cuts a key interest rate as inflation stays low and economy recovers

US economic growth for last quarter is revised up slightly to a 1.4% annual rate

Stock market today: Asian shares mostly rise ahead of U.S. inflation report

The global luxury market is headed for a slowdown in 2024 | AP Explains

The post-pandemic surge in global sales of luxury handbags, shoes and apparel is on pace to stall this year amid a creativity crisis and price hikes focused on the biggest spending customers.

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Stock market today: Asian shares are mostly lower ahead of key US inflation report

Shares have fallen in most Asian markets ahead of a key U.S. inflation report due Friday. Benchmarks fell more than 1% in Tokyo, Hong Kong and Sydney.

Charitable donations continue to decline, down 2.1% in 2023, according to a new Giving USA report

Charitable giving dropped 2.1% in 2023 after inflation, according to the most recent Giving USA report, the key findings of which were released Tuesday.

Spain eliminates sales tax on olive oil to help consumers cope with skyrocketing prices

Spain’s government says it will temporarily eliminate the sales tax on olive oil to help cushion skyrocketing prices.

This Week: Consumer confidence, inflation data, GDP update

The Conference Board on Tuesday issues its consumer confidence index for June. The Commerce Department issues its final reading of first-quarter economic growth Thursday.

Stock market today: Wall Street coasts to the close of another winning week as Nvidia cools again

U.S. stocks coasted to the close of their latest winning week, as Nvidia’s stock continued to cool from its startling, supernova run.

Bank of England keeps main interest rate at 16-year high of 5.25% despite inflation fall

The Bank of England has kept its main interest rate at a 16-year high of 5.25%, even though inflation has fallen to its target of 2%.

Stock market today: Global stocks are mixed after Wall Street edges to more records

Global stocks are mixed after U.S. benchmarks ticked to more records following the latest signs that the U.S. economy may be slowing without falling into recession.

With election looming, UK’s governing Conservatives seize on inflation fall to 2% target

Inflation in the U.K. has returned to the Bank of England’s target rate of 2% for the first time in nearly three years.

Luxury sales are flattening amid a self-inflicted creativity crisis and price hikes, study finds

The post-pandemic surge in global sales of luxury handbags, shoes and apparel is on pace to stall this year amid a creativity crisis and price hikes focused on the biggest spending customers.

Retail sales rise a meager 0.1% in May from April as still high inflation curbs spending

Consumers barely increased spending in May from April as still high inflation and high interest rates curbed spending.

Anxiety over persistent inflation helps drive down US consumer sentiment for third consecutive month

U.S. consumer sentiment fell in June for the third straight month as Americans took a dimmer view of their own finances and worried about persistent inflation.

Greece’s prime minister tweaks his government to focus on cost of living and labor

Greek Prime Minister Kyriakos Mitsotakis is tweaking his Cabinet with a focus on cost-of-living and labor policies after his center-right party’s victory in last week’s European parliamentary elections.

US wholesale prices dropped in May, adding to evidence that inflation pressures are cooling

Wholesale price increases fell in May, the latest sign that inflation pressures in the United States may be easing as the Federal Reserve considers a timetable for cutting interest rates.

How major US stock indexes fared Wednesday, 6/12/2024

U.S. stocks closed higher following a surprisingly encouraging update on inflation. The S&P 500 rose 0.9% Wednesday, closing at another record high, after the Federal Reserve also gave reassurance that it still sees a cut to interest rates as likely this year.

Text of the policy statement the Federal Reserve released Wednesday

WASHINGTON (AP) — Below is the statement the Federal Reserve released Wednesday after its latest policy meeting ended:

Stock market today: Asia shares rise amid Bank of Japan focus after the Fed stands pat

Asian shares are mostly higher as investors turned their attention to what the Bank of Japan might decide on monetary policy later this week.

Federal Reserve sees some progress on inflation but envisions just one rate cut this year

Federal Reserve officials said inflation has fallen further toward their target level in recent months but signaled that they expect to cut their benchmark interest rate just once this year.

US inflation cooled in May in a sign that price pressures may be easing

Inflation in the United States eased in May for a second straight month, a hopeful sign that an acceleration of prices that occurred early this year may have passed.

Stock market today: Asian shares are mostly lower ahead of Fed decision on interest rates

Shares are mostly lower in Asia ahead of a decision by the Federal Reserve on interest rates. In Japan, higher inflation and falling wages have raised questions about how the central bank can navigate away from near-zero interest rates.

Inflation data this week could help determine Fed’s timetable for rate cuts

After Federal Reserve officials meet this week, a statement they will issue may suggest that they’ve seen meaningful progress on inflation this year — a prelude to eventual interest rate cuts.

This Week: Oracle earns, Federal Reserve policy update, consumer price index

Software giant Oracle reports quarterly results Tuesday. The Federal Reserve delivers its latest interest rate policy update Wednesday.

US hiring and wage growth picked up last month in sign of sustained economic health

America’s employers added a strong 272,000 jobs in May, accelerating from April and a sign that companies are still confident enough in the economy to keep hiring despite persistently high interest rates.

Ambulance services for some in New Mexico will rise after state regulators approve rate increase

Ambulance rates will rise for some in New Mexico, particularly those without health insurance after state regulators approved a rate hike for a Presbyterian-affiliated nonprofit ambulance company.

An inflation gauge closely tracked by Federal Reserve rises at slowest pace this year

A price gauge closely tracked by the Federal Reserve cooled slightly last month, a sign that inflation may be easing after running high in the first three months of this year.

Inflation ticked up in Europe in May. That likely won’t stop a central bank rate cut next week

Inflation ticked up to an annual 2.6% in Europe in May. The new figure released on Friday is more than expected as a painful spike in consumer prices takes its time to fade away.

Stock market today: Wall Street rallies to close out a bloom-filled May

An already verdant May for Wall Street finished with another push higher as stocks rallied after a report showed inflation is at least not worsening.

US economic growth last quarter is revised down from 1.6% rate to 1.3%, but consumers kept spending

The U.S. economy grew at a sluggish 1.3% annual pace from January through March, the weakest quarterly rate since the spring of 2022, the government said in a downgrade from its previous estimate.

McDonald’s says $18 Big Mac meal was an ‘exception’ and news reports overstated its price increases

McDonald’s is fighting back against media reports it says have exaggerated its price increases. In a post on the company’s website Wednesday, McDonald’s U.S. president said reports suggesting the price of the average Big Mac has doubled since 2019 were false.

Inflation pressures lingering from pandemic are keeping Fed rate cuts on pause

Hopes for interest rate cuts this year by the Federal Reserve are steadily fading, with a stream of recent remarks by Fed officials underscoring their intention to keep borrowing costs high as long as needed to curb persistently elevated inflation.

US consumer confidence rises in May after three months of declines

Consumer confidence in the U.S. rose in May following three straight months of declines, but Americans remain anxious about elevated inflation and interest rates.

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