Latest Inflation News

Here we go again: Strike snarls UK trains for a third day

Jun. 25, 2022 07:57 AM EDT

LONDON (AP) — Train stations were all but deserted across Britain on Saturday, as the third day of a national strike snarled the weekend plans of millions. Train companies said only a fifth of passenger services would run, as about 40,000 cleaners, signalers, maintenance workers...

Dems hope to harness outrage, sadness after abortion ruling

Jun. 25, 2022 07:36 AM EDT

YARDLEY, Pa. (AP) — The shock quickly turned to sadness for Victoria Lowe. The 37-year-old lawyer, working outside a cafe in suburban Bucks County, Pennsylvania, said she couldn't believe the Supreme Court stripped away the constitutional right to abortion that women have had her...

Inflation sparks global wave of protests for higher pay, aid

Jun. 25, 2022 03:33 AM EDT

Rising food costs. Soaring fuel bills. Wages that are not keeping pace. Inflation is plundering people's wallets, sparking a wave of protests and workers’ strikes around the world. This week alone saw protests by the political opposition in Pakistan, nurses in Zimbabwe, unionized...

Stocks rally, driving Wall Street to a rare winning week

Jun. 24, 2022 16:48 PM EDT

Stocks racked up more gains on Wall Street Friday, as the S&P 500 had its best day in two years and just its second winning week in the last 12 to provide a bit of relief from the market's brutal sell-off this year. The benchmark index rose 3.1%, with technology and banks leading...

Solidarity behind Ukraine's Russia fight atop summit agendas

Jun. 24, 2022 14:06 PM EDT

WASHINGTON (AP) — Back-to-back world leader summits in Europe opening this weekend will focus on uniting Western nations behind Ukraine in its fight against Russia's invasion and overcoming Turkey's opposition to NATO membership for Finland and Sweden. The Group of Seven leading...

EU leaders tackle inflation, energy shocks from Russia's war

Jun. 24, 2022 12:33 PM EDT

BRUSSELS (AP) — A day after endorsing Ukraine's candidacy to join the European Union, the bloc's leaders turned their attention Friday to the severe economic turbulence from Russia’s war in the neighboring country as the conflict's full impact sinks in and the threat of recession rises. ...

Asian shares gain, tracking Wall Street advance

Jun. 24, 2022 00:36 AM EDT

BANGKOK (AP) — Shares were higher in Asia on Friday, tracking gains on Wall Street, where the market is headed for its first weekly gain after three weeks of punishing losses. Tokyo's Nikkei 225 index added 0.9% to 26,411.64 and the Kospi in Seoul jumped 1.8% to 2,356.38. Hong...

Mexico's central bank hikes its prime lending rate to 7.75%

Jun. 23, 2022 16:14 PM EDT

MEXICO CITY (AP) — Stung by stubbornly high inflation, Mexico’s Central Bank announced Thursday that it made a thre-quarter-point increase in its prime interest rate, to boost it to 7.75%. The Banco de Mexico said in the announcement that domestic inflation hit an annualized...

Jensen seeks tax cuts to help Minnesota cope with inflation

Jun. 23, 2022 15:02 PM EDT

ST. PAUL, Minn. (AP) — Republican gubernatorial candidate Scott Jensen called Thursday for tax cuts and a clampdown on government spending and regulations to help Minnesotans cope with the highest inflation rate in 40 years. Inflation is already dominating election campaigns...

Powell: Fed must convince public it can tame inflation

Jun. 23, 2022 13:45 PM EDT

WASHINGTON (AP) — As if their job weren't hard enough at a time of raging inflation, Chair Jerome Powell and his Federal Reserve colleagues have to do more these days than decide just how much to raise interest rates without triggering a recession. They also have a sales job on...