Latest Inflation News

Average rate on a 30-year mortgage drops to 6.77%, sliding to lowest level since March

Jul. 18, 2024 16:12 PM EDT

LOS ANGELES (AP) — The average rate on a 30-year mortgage dropped this week to a four-month low, a welcome decline in borrowing costs for prospective homebuyers grappling with the challenge of record-high home prices and a dearth of properties on the market. The rate fell to 6.77%...

Amazon says this year's Prime Day was its biggest ever

Jul. 18, 2024 12:33 PM EDT

NEW YORK (AP) — Amazon saw record sales for Prime Day this week as Prime members purchased more items than ever before, the company announced Thursday. The Seattle e-commerce giant, which does not disclose how much it earns during the popular discount event, also said...

European Central Bank leaves key interest rate at 3.75%, waits for signs inflation is under control

Jul. 18, 2024 10:20 AM EDT

FRANKFURT, Germany (AP) — The European Central Bank left its key interest rate benchmark unchanged Thursday as its rate-setting council and President Christine Lagarde take their time to make sure stubborn inflation is firmly under control before lowering rates again. The decision...

FACT FOCUS: A look at Biden's economic policies related to rising prices

Jul. 18, 2024 08:35 AM EDT

WASHINGTON (AP) — President Joe Biden's economic policies have been slammed by several speakers at the Republican National Convention. But some of the criticism was off base. Here's a look at the facts. ___ North Dakota Gov. Doug Burgum on the economy:...

European Central Bank leaves key interest rate at 3.75%, waits for signs inflation is under control before cutting again

Jul. 18, 2024 08:22 AM EDT
FRANKFURT (AP) — European Central Bank leaves key interest rate at 3.75%, waits for signs inflation is under control before cutting again.

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...