Latest Inflation News

Ex-regional Fed president: Inflation headed lower, with interest rates likely to follow

Jul. 17, 2024 10:35 AM EDT

WASHINGTON (AP) — Having worked in the Federal Reserve system her entire career, Loretta Mester rose to become president of the Cleveland Fed for a decade until her retirement on June 30. During most of her years on the Fed's interest-rate-setting committee, Mester was likely to...

Bank of England faces dilemma after potential Taylor Swift upside impact on UK inflation

Jul. 17, 2024 06:26 AM EDT

LONDON (AP) — The Bank of England is facing a dilemma about whether to cut interest rates next month after official figures Wednesday showed inflation holding steady at its target against expectations of a modest decline, possibly as a result of Taylor Swift's Eras Tour. The Office...

Summer pause: Small business sales growth tapers in June as consumers take a breather on spending

Jul. 16, 2024 15:06 PM EDT

Small business sales growth slowed in June as consumers took a pause on spending. That's according to new data from financial services and payments provider Fiserv. Consumers have been reining in spending as high prices on groceries and other necessities and high...

Amazon Prime Day deals are almost here. Should you take advantage of them?

Jul. 16, 2024 15:05 PM EDT

NEW YORK (AP) — It's summertime, and the bargains seem easy at a time when many consumer prices are high. July sales events have become a seasonal revenue driver for the retail industry since Amazon launched its first Prime Day back in 2015. While consumers may be enticed by the...

IMF's economic view: Brighter outlook for China and India but tepid global growth

Jul. 16, 2024 09:49 AM EDT

WASHINGTON (AP) — The International Monetary Fund on Tuesday upgraded its economic outlook this year for China, India and Europe while modestly lowering expectations for the United States and Japan. But it says worldwide progress against accelerating prices has been slowed by...

Retail sales unchanged in June as inflation moderates, but still takes a bite

Jul. 16, 2024 08:47 AM EDT
WASHINGTON (AP) — Retail sales unchanged in June as inflation moderates, but still takes a bite.

Trump's economic plans include proposed tariffs, tax cuts and no taxes on tips. Details are scarce

Jul. 15, 2024 23:35 PM EDT

WASHINGTON (AP) — The first night of the Republican National Convention kept its official focus on the economy Monday even after Saturday’s shooting at a rally in Pennsylvania in which former President Donald Trump was injured. Speakers argued that Trump would fix inflation and...

Powell says Federal Reserve is more confident inflation is slowing to its target

Jul. 15, 2024 18:12 PM EDT

WASHINGTON (AP) — Chair Jerome Powell said Monday that the Federal Reserve is becoming more convinced that inflation is headed back to its 2% target and said the Fed would cut rates before the pace of price increases actually reached that point. “We've had three better readings,...

Biden to call for 5% cap on annual rent increases, as he tries to show plans to tame inflation

Jul. 15, 2024 17:15 PM EDT

WASHINGTON (AP) — President Joe Biden is ready to propose a 5% cap on annual rent increases for tenants of major landlords as he tries to show he's doing something about the high cost of housing, according to a person familiar with the plan. The proposal, to be announced while the...

Argentina's inflation edges up in June, breaking a months-long streak in a blow to President Milei

Jul. 12, 2024 22:17 PM EDT

BUENOS AIRES, Argentina (AP) — A closely watched measure of inflation in Argentina was stronger than the libertarian government of President Javier Milei would have hoped on Friday, as the official statistics agency reported prices edging up in June and breaking a months-long streak of declines....