Latest Inflation News

US home sellers get while the gettin's good

Jan. 26, 2023 12:15 PM EST

LOS ANGELES (AP) — Homeowners who held off on selling their home in 2022 as the housing market slowed missed out on a windfall and may have to settle for slimmer profits if they opt to sell this year. The sale of a median-priced U.S. home last year translated into a profit of...

Average long-term mortgage rate at lowest level in 4 months

Jan. 26, 2023 12:07 PM EST

The average long-term U.S. mortgage rate fell to its lowest level in more than four months, giving some relief to homebuyers faced with higher prices for just about everything, including homes. Mortgage buyer Freddie Mac reported Thursday that the average on the benchmark 30-year...

Walmart's Sam's Club to add 30 stores in next few years

Jan. 26, 2023 11:37 AM EST

NEW YORK (AP) — Walmart said Thursday it plans to open more than 30 Sam's Club locations in the next few years, marking the first expansion since 2017. The nation's largest retailer, based in Bentonville, Arkansas, plans to open the first Sam's Club location as part of the...

How will we know if the US economy is in a recession?

Jan. 26, 2023 09:49 AM EST

WASHINGTON (AP) — The second consecutive quarter of economic growth that the government reported Thursday underscored that the nation isn't in a recession despite high inflation and the Federal Reserve's fastest pace of interest rate hikes in four decades. Yet the U.S. economy is...

Fewer Americans file for jobless claims last week

Jan. 26, 2023 08:54 AM EST

WASHINGTON (AP) — Fewer Americans filed for unemployment benefits last week as the labor market remains tight, even as the Federal Reserve has tried to cool the economy and inflation by raising interest rates. Applications for jobless aid in the U.S. for the week ending Jan. 21...

UN forecasts fall in global economic growth to 1.9% in 2023

Jan. 25, 2023 23:13 PM EST

UNITED NATIONS (AP) — The United Nations forecast Wednesday that global economic growth will fall significantly to 1.9% this year as a result of the food and energy crisis sparked by the war in Ukraine, the impact of the COVID-19 pandemic, persistently high inflation and the climate emergency. ...

Wall Street ends mixed after erasing a big morning loss

Jan. 25, 2023 16:32 PM EST

NEW YORK (AP) — Another roller-coaster day left Wall Street essentially where it began on Wednesday, after stocks veered on worries about how badly a slowing economy will hit corporate profits. The S&P 500 finished virtually unchanged, but only after it tumbled to a morning...

Asia shares trading mixed, China markets closed for holidays

Jan. 24, 2023 23:23 PM EST

TOKYO (AP) — Asian shares were mixed Wednesday after Wall Street indexes finished little changed as investors awaited earnings results from major global companies. Shares rose in Tokyo and Seoul, but fell in Sydney. Markets were closed in Hong Kong and Shanghai for Lunar New Year...

Soaring egg prices prompt demands for price-gouging probe

Jan. 24, 2023 17:39 PM EST

OMAHA, Neb. (AP) — With egg prices more than doubling in the past year, calls are coming for an investigation into possible price gouging. U.S. Sen. Jack Reed sent a letter Tuesday asking for the Federal Trade Commission to investigate whether egg prices have been improperly...

Federal Reserve and the markets in standoff on rate hikes

Jan. 24, 2023 11:19 AM EST

WASHINGTON (AP) — Sooner or later, either Wall Street or the Federal Reserve has to blink. Nearly a year into the Fed’s drive to quash inflation by hiking interest rates at a blistering pace, investors still don’t seem to fully believe what the Fed warns is coming next: Higher...