Latest Inflation News

Tech stocks lead Wall Street lower, breaking winning streak

Aug. 19, 2022 17:15 PM EDT

Wall Street capped a choppy week of trading Friday with a broad slide for stocks that left the major indexes in the red for the week. The S&P 500 closed 1.3% lower, breaking a four-week winning streak. Shares in more than 80% of the companies in the benchmark index fell, with...

California sets new low unemployment record in July

Aug. 19, 2022 15:35 PM EDT

SACRAMENTO, Calif. (AP) — California's unemployment rate fell to 3.9% in July, the lowest point since 1976 as employers in the the nation's most populous state continued to defy expectations by adding 84,800 new jobs. Record-high inflation coupled with a cool-down in the housing...

Biden bill to help millions escape higher health care costs

Aug. 19, 2022 10:02 AM EDT

WASHINGTON (AP) — Millions of people in the United States will be spared from big increases in health care costs next year after President Joe Biden signed legislation extending generous subsidies for those who buy plans through federal and state marketplaces. The sweeping climate,...

Zimbabweans hit by 257% inflation: Will gold coins help?

Aug. 19, 2022 05:25 AM EDT

HARARE, Zimbabwe (AP) — After working as an overnight security guard at a church in Harare's impoverished Mabvuku township, Jeffrey Carlos rushes home to help his wife fetch water to sell. Prolonged water shortages mean most residents of the capital city of more than 2.4 million...

Asian markets mixed after Wall St gains on jobs data

Aug. 19, 2022 00:43 AM EDT

BEIJING (AP) — Asian stock markets were mixed Friday after Wall Street rose as investors analyzed conflicting economic signals ahead of a Federal Reserve conference next week. Shanghai and Seoul declined while Tokyo and Hong Kong advanced. Oil prices edged lower but stayed above...

Missouri Senate hopefuls Schmitt, Valentine campaign at fair

Aug. 18, 2022 18:57 PM EDT

SEDALIA, Mo. (AP) — Missouri's Republican and Democratic U.S. Senate nominees on Thursday framed their campaigns around their support for or opposition to policies backed by President Joe Biden as they vied for farmers' votes at the Missouri State Fair. Republican Attorney General...

Kohl's cuts 2022 outlook, capping mixed week for retailers

Aug. 18, 2022 17:30 PM EDT

Kohl’s on Thursday slashed its sales and profit expectations for the year, a result of its stepped up price cutting to shed unwanted merchandise. The department store chain also cut back on orders ahead of the critical holiday period, spooking investors and sending shares down...

Turkey lowers interest rate even as inflation soars to 80%

Aug. 18, 2022 11:52 AM EDT

ANKARA, Turkey (AP) — Turkey’s central bank on Thursday lowered its key interest rate despite inflation surging to nearly 80% and making it difficult for people to buy what they need, falling in line with the unorthodox economic views of the country's president. In a statement...

Trains paralyzed again in UK as unions stage more strikes

Aug. 18, 2022 11:40 AM EDT

LONDON (AP) — Thousands of train workers in Britain staged a new round of strikes Thursday, paralyzing rail service across the country in an escalating dispute over pay and working conditions exacerbated by a deepening cost-of-living crisis. Only around one in five trains ran...

Average long-term mortgage rates retreat slightly this week

Aug. 18, 2022 10:35 AM EDT

WASHINGTON (AP) — Average long-term U.S. mortgage rates came back down slightly this week after the key 30-year loan rate jumped nearly a quarter point last week. Mortgage buyer Freddie Mac reported Thursday that the 30-year rate fell to 5.13% from 5.22% last week. Last year at...