Latest Inflation News

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...

US inflation will likely stay high even as gas prices fall

Aug. 10, 2022 00:01 AM EDT

WASHINGTON (AP) — Americans may finally be catching a break from relentlessly surging prices — if just a slight one — even as inflation is expected to remain painfully high for months. Thanks largely to falling gas prices, the government’s inflation report for July, to be...

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...

Most electric vehicles won't qualify for federal tax credit

Aug. 09, 2022 11:02 AM EDT

DETROIT (AP) — A tax credit of up to $7,500 could be used to defray the cost of an electric vehicle under the Inflation Reduction Act now moving toward final approval in Congress. But the auto industry is warning that the vast majority of EV purchases won’t qualify for a tax...

Millennial Money: When is it OK to be selfish with money?

Aug. 09, 2022 10:33 AM EDT

Amid rising inflation, interest rates and recession worries, money is getting tighter for many folks — and probably for you. Yet there may be charitable organizations you want to support, friends or family asking for financial help and things you want to buy for yourself. It’s possible to do...

One year after Afghan war, Biden struggles to find footing

Aug. 09, 2022 00:34 AM EDT

WASHINGTON (AP) — The 12 months since the chaotic end to the U.S. war in Afghanistan haven't been easy for Joe Biden. The new president was flying high early in the summer of 2021, the American electorate largely approving of Biden's performance and giving him high marks for his...

Asian shares mostly decline on global technology downturn

Aug. 08, 2022 23:57 PM EDT

TOKYO (AP) — Asian shares mostly declined Tuesday amid a global fall in technology shares, including Japan's SoftBank, which has reported hefty losses caused by the market downturn. Such worries are coming on top of concerns about inflation and what central banks might do to curb...

How major US stock indexes fared Monday 8/08/2022

Aug. 08, 2022 16:24 PM EDT

Stocks closed flat on Wall Street as investors prepare for a busy week of updates on inflation. The S&P 500 gave up early gains and closed lower. The Dow Jones Industrial Average edged higher and the Nasdaq fell slightly. Small-company stocks outpaced the broader market in a...