Latest Inflation News

Senate Minority Leader Sen. Chuck Schumer of N.Y., center, arrives for a news conference on Capitol Hill in Washington, Tuesday, May 12, 2020. (AP Photo/Patrick Semansky)

CBO projects virus impact could trim GDP by $15.7 trillion

Jun. 1, 2020 8:06 PM EDT

WASHINGTON (AP) — The Congressional Budget Office said Monday that the U.S. economy could be $15.7 trillion smaller over the next decade than it otherwise would have been if Congress does not mitigate the economic damage from the coronavirus. The CBO, which had already issued a report forecasting a severe...

Labor will stop giving reporters early look at economic data

May. 19, 2020 5:36 PM EDT

WASHINGTON (AP) — The U.S. Labor Department says it is ending its long-standing system of allowing news reporters to review government economic data, including high-profile reports on unemployment, retail sales and inflation, before the data is publicly released. The department for decades has given news...

In this Sunday, May 10, 2020 photo, stockbrokers work at the Tehran Stock Exchange in Iran. The exchange has seen gains of 225% in the last year, with sharp increases even as the country struggled with one of the first serious coronavirus outbreaks outside of China. Encouraged by a government eager to privatize state-owned firms, average people now have access to the market and can trade shares. (AP Photo/Vahid Salemi)

Iran stock market booms, but analysts fear a growing bubble

May. 17, 2020 3:36 AM EDT

TEHRAN, Iran (AP) — Even as U.S. sanctions, unemployment, inflation and low oil prices batter the Iranian economy, there seems to be at least one refuge for investors. The Tehran Stock Exchange has seen gains of 225% in the last year, with sharp increases even as the country struggled with one of the...

Angie Moorefield unfolds material to begin sewing a disposable gown at Burlington Medical in Newport News Wednesday, May 6, 2020. The manufacturing business recently shifted from producing radiation protection gear for medical facilities to in-demand personal protective equipment such as masks, gowns and plastic face shields. (Jonathon Gruenke/The Virginian-Pilot via AP)

US wholesale prices drop record 1.3% in April

May. 13, 2020 10:17 AM EDT

WASHINGTON (AP) — Wholesale prices slid a record 1.3% in April led by a 19% plunge in the cost of energy, further signaling the potential threat of deflation in the United States. The Labor Department said that its producer price index, which measures inflation before it reaches the consumer, fell by the...

FILE - This Aug. 11, 2019 file photo shows credit cards in New Orleans. U.S. consumer borrowing fell in March for the first time in more than eight years, with the category covering credit cards dropping by the largest amount in over three decades, the Federal Reserve reported Thursday, May 7, 2020. (AP Photo/Jenny Kane, file)

Why prospect of deflation could pose a threat to US economy

May. 12, 2020 2:33 PM EDT

WASHINGTON (AP) — The economic paralysis caused by the coronavirus led in April to the steepest month-to-month fall in U.S. consumer prices since the 2008 financial crisis — a 0.8% drop that was driven by a plunge in gasoline prices. And excluding the normally volatile categories of food and energy,...

FILE - In this March 3, 2020 file photo, Federal Reserve Chair Jerome Powell speaks during a news conference to discuss an announcement from the Federal Open Market Committee, in Washington.  The Federal Reserve said Friday, April 24,  it had $85.8 billion in loans outstanding last week in three of the programs it rolled out last month to protect the economy during the coronavirus pandemic.   (AP Photo/Jacquelyn Martin, File)

Fed signals it will likely hold rates near zero for months

Apr. 29, 2020 6:06 PM EDT

WASHINGTON (AP) — The Federal Reserve signaled Wednesday that it will keep its key short-term interest rate near zero for the foreseeable future as part of its extraordinary efforts to bolster an economy that is sinking into its worst crisis since the 1930s. Chairman Jerome Powell noted the gravity of the...

Text of the Fed's statement after its meeting Wednesday

Apr. 29, 2020 2:20 PM EDT

WASHINGTON (AP) — Below is the statement the Fed released Wednesday after its policy meeting ended: The Federal Reserve is committed to using its full range of tools to support the U.S. economy in this challenging time, thereby promoting its maximum employment and price stability goals. The coronavirus...

FILE - In this March 25, 2020 file photo,  a closed sign hangs in the window of a shop in Portsmouth, N.H., due to caronavirus concerns.  The Federal Reserve is taking additional steps to provide up to $2.3 trillion in loans to suport American households and businesses as well as local governments as they deal with the coronavirus. The Fed said Thursday, April 9,  among the actions it is taking is the activation of a Main Street Lending Program that was authorized by the $2.3 trillion economic relief bill pass by Congress last month. (AP Photo/Charles Krupa, File)

A new $2.3 trillion Fed plan to aid localities and companies

Apr. 9, 2020 3:05 PM EDT

WASHINGTON (AP) — The Federal Reserve unleashed a new series of moves Thursday to try to make loans available to states, localities and companies that have been hard hit by the coronavirus. In doing so, the Fed will pump an additional $2.3 trillion into the U.S. economy. The central bank, in part, is...

Latricia Lewis prepares finished masks for packaging at the Carole Fabrics facility in Augusta, Ga., Tuesday, April 7, 2020. Carole Fabrics has converted its  factory from manufacturing drapes and window coverings to now making coronavirus masks. (Michael Holahan/The Augusta Chronicle via AP)

Wholesale prices fall 0.2% in March

Apr. 9, 2020 1:22 PM EDT

WASHINGTON (AP) — Wholesale prices fell for a second consecutive month, led by a big drop in energy prices. The Labor Department reported Thursday that its producer price index, designed to measure inflation before it reaches the consumer, dropped 0.2% in March after a bigger 0.6% decline in February....