Latest Inflation News

Wall Street jumps as data shows inflation easing slightly

Aug. 10, 2022 09:43 AM EDT

NEW YORK (AP) — Stocks are opening higher on Wall Street after the government reported inflation eased slightly last month. The S&P 500 is up 1.6% just after the opening bell Wednesday. The Nasdaq and Dow Jones industrials are also up strongly. The Labor Department reported that U.S....

US inflation slows from a 40-year peak but remains high

Aug. 10, 2022 09:34 AM EDT

WASHINGTON (AP) — Falling gas prices gave Americans a slight break from the pain of high inflation last month, though overall price increases slowed only modestly from the four-decade high that was reached in June. Consumer prices jumped 8.5% in July compared with a year earlier,...

German FinMin pitches $10B tax cuts to ease inflation pain

Aug. 10, 2022 09:27 AM EDT

BERLIN (AP) — Germany's finance minister said Wednesday that the government plans to make tax cuts worth more than 10 billion euros ($10.2 billion) to benefit broad sections of the population squeezed by high energy costs and inflation. Finance Minister Christian Lindner said about...

US inflation slows from a 4-decade peak to a still-high 8.5% over the past year

Aug. 10, 2022 08:33 AM EDT
WASHINGTON (AP) — US inflation slows from a 4-decade peak to a still-high 8.5% over the past year.

Inflation rises in Denmark, Norway, hitting food costs hard

Aug. 10, 2022 06:30 AM EDT

COPENHAGEN, Denmark (AP) — Annual inflation in Denmark came at 8.7% last month — rising at the fastest pace since 1983 — while the figure in neighboring Norway reached 6.8%, authorities said Wednesday. Statistics Denmark said the price of goods has increased by an average of...

In race to win, UK Conservatives accused of ignoring crises

Aug. 10, 2022 03:51 AM EDT

LONDON (AP) — As Britain swelters through a roasting summer, and braces for a cold financial reckoning in the fall, calls for the Conservative government to act are getting louder. But the Conservatives are busy choosing a new leader, through a prolonged party election whose...

Asian stocks fall ahead of US inflation

Aug. 10, 2022 00:25 AM EDT

BEIJING (AP) — Asian stocks followed Wall Street lower Wednesday ahead of U.S. inflation data that traders worry will show upward pressure on prices still is too strong for the Federal Reserve to ease off interest rate hikes. Shanghai, Tokyo, Hong Kong and Seoul declined. Oil...

Abrams seeks to invest to build inclusive economy in Georgia

Aug. 09, 2022 21:06 PM EDT

ATLANTA (AP) — Democratic gubernatorial candidate Stacey Abrams argued in a speech Tuesday that it's time for Georgia to use its budget surplus to invest in its residents, accusing Gov. Brian Kemp and other Republicans of hurting the state by prioritizing low taxes and low spending. ...

As Mexico's inflation hits 8.15%, families cut back

Aug. 09, 2022 19:12 PM EDT

MEXICO CITY (AP) — Mexico’s annualized inflation rate hit 8.15% in July, the highest in more than two decades, the national statistics institute announced Tuesday. But inflation in prices for food and non-alcoholic beverages is even higher, with prices rising 14.5% over the last...

USPS to request rate increase due to inflation, DeJoy says

Aug. 09, 2022 17:49 PM EDT

WASHINGTON (AP) — Inflation is going to add over $1 billion to the U.S. Postal Service budget, necessitating a request for another rate increase in January, but the service is well prepared for the November election, Postmaster General Louis DeJoy said Tuesday. The Postal Service...