Latest Inflation News

Stocks fall, head for another weekly loss; Netflix plunges

Jan. 21, 2022 10:39 AM EST

Stocks fell in morning trading on Wall Street Friday as every major index heads for another weekly loss amid concerns about rising inflation and an upcoming increase in interest rates. The S&P 500 fell 1.3% as of 10:22 a.m. Eastern. The benchmark index is on track for its third...

Year 2: Biden plans more public outreach, less legislating

Jan. 21, 2022 00:19 AM EST

WASHINGTON (AP) — President Joe Biden has launched into his second year in office with a new focus on making fatigued Americans believe they’re better off under his leadership as he embraces a pared-back agenda before the midterm elections. The persistence of the coronavirus,...

Year 2: Biden plans more public outreach, less legislating

Jan. 20, 2022 19:50 PM EST

WASHINGTON (AP) — President Joe Biden launched into his second year in office Thursday with a new focus on making fatigued Americans believe they’re better off under his leadership as he embraces a pared-back agenda before the midterm elections. The persistence of the...

Bankers survey: Rural economy stays strong in 10 states

Jan. 20, 2022 14:13 PM EST

OMAHA, Neb. (AP) — The economy in rural parts of 10 Plains and Western states remains strong, according to a new monthly survey of bankers in the region released Thursday, but those bankers said they have growing concerns about the rising costs associated with running farms. The...

Long-term mortgage rates continue rise; 30-year breaks 3.5%

Jan. 20, 2022 13:37 PM EST

WASHINGTON (AP) — Average long-term U.S. mortgage rates continued to rise this week. The rate on the benchmark 30-year loan breached 3.5%. Home loan rates have been running in recent weeks at levels not seen since early 2020, when the coronavirus pandemic was breaking in the U.S....

Analysis: Biden finds inflation overshadows strong economy

Jan. 20, 2022 13:01 PM EST

President Joe Biden is paying a steep price for high inflation — a problem that festered during his first year in office instead of fading away as he suggested it would. His $1.9 trillion coronavirus relief package, enacted in March, drove what will probably be the fastest economic...

Rising inflation tightens squeeze on consumers

Jan. 20, 2022 10:26 AM EST

Retail sales took an unexpected dip in December in what could be a signal that persistently rising inflation is prompting a pullback in consumer spending. Consumers paid more for everything from groceries to cars in 2021 as companies passed along the costs of pricier raw materials...

Turkey's central bank ends string of interest rate cuts

Jan. 20, 2022 09:42 AM EST

ANKARA, Turkey (AP) — Turkey’s central bank kept a key interest rate unchanged on Thursday, halting a string of rate cuts that triggered a currency crisis and sent consumer prices skyrocketing. The bank’s Monetary Policy Committee said it decided to keep its policy rate...

Biden approval hits new low at one-year mark: AP-NORC poll

Jan. 20, 2022 06:15 AM EST

WASHINGTON (AP) — President Joe Biden ends his first year in the White House with a clear majority of Americans for the first time disapproving of his handling of the presidency in the face of an unrelenting pandemic and roaring inflation, according to a new poll from The Associated Press-NORC...

Biden says nation weary from COVID but rising with him in WH

Jan. 20, 2022 00:39 AM EST

WASHINGTON (AP) — President Joe Biden acknowledged that the pandemic has left Americans exhausted and demoralized but insisted at a news conference marking his first year in office that he has “outperformed” expectations in dealing with it. Facing sagging poll numbers and a...