Latest Inflation News
Bank of England edges closer to rate cut, possibly in June, as it predicts below-target inflation
LONDON (AP) — The Bank of England maintained its key U.K. interest rate at a 16-year high of 5.25% though it gave a broad hint that a reduction could be on the cards as soon as June as inflation is forecast to fall below target. In a statement Thursday, the bank’s nine-member...
Despite numbers showing a healthy economy overall, lower-income spenders are showing the strain
NEW YORK (AP) — Cracks are showing in one of the main pillars keeping the economy out of a recession: resilient spending by U.S. households. Consumer goods giants from PepsiCo to Kraft Heinz have described recently how the combination of high inflation and higher interest rates is...
Bank of England expected to wait for more evidence that inflation is under control before rate cut
LONDON (AP) — The Bank of England is expected to maintain interest rates at a 16-year high of 5.25% Thursday, but a cut wouldn't be a huge surprise as inflation falls from multi-decade highs. The consensus in financial markets is that a majority of the bank's nine-member Monetary...
California regulators to vote on changing how power bills are calculated
SACRAMENTO, Calif. (AP) — California regulators on Thursday are likely to change how some power companies calculate their customers' bills, a decision that would make it less expensive for people to charge electric cars and cool their homes in the summer but would increase prices for those who...
With inflation soaring, Argentina will start printing 10,000 peso notes
BUENOS AIRES, Argentina (AP) — Prices in Argentina have surged so dramatically in recent months that the government has multiplied the size of its biggest bank note in circulation by five — to 10,000 pesos, worth about $10. The central bank announcement Tuesday promised to...
Shopify's shares tumble on weak outlook after a very strong start to 2024
Shares of Shopify plunged Wednesday after the Canadian company that helps retailers with online sales warned of easing revenue growth and thinner margins in the current quarter. That caught a lot of investors off guard after the company rebounded strongly from the pandemic and...
Stock market today: Wall Street rallies after hiring shows welcome signs of cooling
Wall Street capped a choppy week of trading Friday with the best day for the stock market in over two months, as traders welcomed cooler-than-expected U.S. employment data as a sign that inflationary pressures on the economy are easing. The S&P 500 rose 1.3%, its best day since...
US employers scaled back hiring in April. How that could let the Fed cut interest rates
WASHINGTON (AP) — The nation’s employers pulled back on their hiring in April but still added a decent 175,000 jobs in a sign that persistently high interest rates may be starting to slow the robust U.S. job market. Friday’s government report showed that last month’s hiring...
The Fed indicated rates will remain higher for longer. What does that mean for you?
NEW YORK (AP) — Mortgage rates, credit card rates, auto loan rates, and business loans with variable rates will all likely maintain their highs, with consequences for consumer spending, after the Federal Reserve indicated Wednesday that it doesn’t plan to cut interest rates until it has...
Czech central bank cuts a key interest rate again with inflation down and the economy on the mend
PRAGUE (AP) — The Czech Republic’s central bank on Thursday cut its key interest rate for the fourth straight time as inflation dropped and the economy showed signs of recovery. The cut by a half-percentage point brought the interest rate down to 5.25%. The move was expected by...
