Latest Inflation News

Asian shares mixed after Dow falls into bear market

Sep. 26, 2022 23:14 PM EDT

Stocks were mixed in Asia on Tuesday after closing broadly lower on Wall Street, where the Dow Jones Industrial Average fell into what’s known as a bear market. Tokyo, Sydney and Shanghai advanced while Hong Kong and Seoul declined. U.S. futures rose and oil prices also were...

Fed officials call for more rate hikes to fight inflation

Sep. 26, 2022 18:16 PM EDT

WASHINGTON (AP) — The Federal Reserve will have to keep boosting its benchmark interest rate to a point that raises unemployment and gets inflation down from unusually high levels, two officials said in separate remarks Monday. Susan Collins, the new president of the Federal...

Biden's mixed record forces some Dems into odd balancing act

Sep. 26, 2022 14:11 PM EDT

CINCINNATI (AP) — Democratic House candidate Greg Landsman can tick off how his party's control of Congress and the White House has benefited his city. The bipartisan infrastructure deal will mean upgrades to the heavily traveled highway bridge linking Cincinnati with its airport...

Bank of England fails to reassure markets after pound plunge

Sep. 26, 2022 13:53 PM EDT

LONDON (AP) — The Bank of England sought to reassure financial markets after the British pound touched an all-time low against the U.S. dollar Monday, but its entreaty fell flat for investors concerned about a sweeping package of tax cuts that further jolted a faltering economy that the...

The British pound has taken a tumble. What's the impact?

Sep. 26, 2022 12:22 PM EDT

LONDON (AP) — The pound is taking a pounding. The British currency has taken a plunge, sliding against the U.S. dollar to touch an all-time low. It's a sign of the alarm in financial markets over new Prime Minister Liz Truss' emergency budget measures unveiled last week aimed at...

Bank of England says it would "not hesitate to change interest rates by as much as needed" to bring down inflation

Sep. 26, 2022 11:41 AM EDT
LONDON (AP) — Bank of England says it would "not hesitate to change interest rates by as much as needed" to bring down inflation.

OECD: War in Ukraine to drag on global economy into 2023

Sep. 26, 2022 09:13 AM EDT

PARIS (AP) — Russia's war in Ukraine and the lingering effects of the COVID-19 pandemic are dragging down global economic growth more than expected and driving up inflation that will stay high into next year, the Organization for Economic Cooperation and Development said Monday in a darkening...

Recession clouds gather in Germany, Europe's largest economy

Sep. 26, 2022 06:06 AM EDT

FRANKFURT, Germany (AP) — Europe's largest economy is sending recession signals. Germany's key future indicator, the IFO survey of business confidence, pointed down for the fourth month in a row as high inflation fed by astronomical natural gas prices undermines consumer pricing...

This Week: New home sales, GDP snapshot, consumer spending

Sep. 26, 2022 00:08 AM EDT

A look at some of the key business events and economic indicators upcoming this week: HOUSING MARKET BELLWETHER The Commerce Department releases its August tally of new U.S. home sales Tuesday. Economists project that sales slowed again last month to a...

Poverty and inflation: Egypt's economy hit by global turmoil

Sep. 25, 2022 03:29 AM EDT

DUBAI, United Arab Emirates (AP) — Stores are selling winter clothes from last season in the middle of summer. Repair shops lack spare parts for appliances. There's a waiting list to buy a new car. Egypt, a country of more than 103 million people, is running low on foreign...