Latest Inflation News

Stocks extend 2022 losses as investors brace for rate hikes

Jan. 19, 2022 18:31 PM EST

Stocks closed broadly lower on Wall Street Wednesday and deepened the losses for major indexes this year following another choppy day of trading. Stocks bounced between gains and losses throughout the day, largely following the direction of technology stocks, which sold off in the...

Biden says nation weary from COVID, but US in a better place

Jan. 19, 2022 18:11 PM EST

WASHINGTON (AP) — President Joe Biden acknowledged Wednesday that the pandemic has left Americans exhausted and demoralized but insisted at a news conference marking his first year in office that he has “outperformed” expectations in dealing with it. He said he would likely...

In news conference marking 1st year in office, President Biden says central bank should bear down on fighting inflation

Jan. 19, 2022 16:21 PM EST
WASHINGTON (AP) — In news conference marking 1st year in office, President Biden says central bank should bear down on fighting inflation.

Bank of America profits rise 28%, wage expenses up too

Jan. 19, 2022 10:33 AM EST

NEW YORK (AP) — Bank of America said its profits rose 28% last quarter from a year earlier, but the bank faced the same wage inflation as its Wall Street counterparts. The bank said Wednesday that it earned a profit of $7.01 billion, or 82 cents per share, in the fourth quarter....

UK consumer prices rise at fastest pace in almost 30 years

Jan. 19, 2022 09:36 AM EST

LONDON (AP) — Consumer prices in the United Kingdom have risen at the fastest pace in almost 30 years as higher costs for energy, transportation, food and furniture squeezed household incomes. Inflation accelerated to 5.4% in the 12 months through December, up from November's 5.1%,...

EXPLAINER: Are Turkey's efforts to fix the economy working?

Jan. 19, 2022 03:03 AM EST

ANKARA, Turkey (AP) — Turkey’s government and central bank have taken unconventional steps in recent weeks to prop up a beleaguered economy crippled by skyrocketing consumer prices, instead of ending a much-criticized plan to cut interest rates. President Recep Tayyip Erdogan’s...

Asian shares mostly lower after retreat on Wall Street

Jan. 18, 2022 23:07 PM EST

TOKYO (AP) — Asian shares fell in cautious trading on Wednesday after stocks on Wall Street sank to a new low for the year. Tokyo, Shanghai, Seoul and Sydney were lower while Hong Kong edged higher. Technology shares led the decline Tuesday on Wall Street....

Hochul budget would boost school aid, offer tax relief

Jan. 18, 2022 21:41 PM EST

ALBANY, N.Y. (AP) — New York would boost state school aid, provide sweeping property tax relief and deliver bonuses to health care workers over the next year if lawmakers pass a $216.3 billion budget outlined by Gov. Kathy Hochul on Tuesday. Top legislative leaders are expected to...

How major US stock indexes fared Tuesday

Jan. 18, 2022 16:28 PM EST

Stocks fell to a new low for the year on Wall Street Tuesday and bond yields surged amid renewed jitters the Federal Reserve will lift interest rates to tackle rising inflation. The S&P 500, the Dow Jones Industrial Average and the Nasdaq fell. Technology stocks and banks led...

Eurogroup seeks path between high inflation, slower growth

Jan. 17, 2022 15:01 PM EST

BRUSSELS (AP) — Euro finance chiefs on Monday ventured into a high-wire political balancing act prompted by conflicting economic forces: a weaker growth outlook and stronger inflation. Finance ministers from the 19 nations that share the euro currency pledged continued budgetary...