Latest Inflation News

FILE - In this Aug. 14, 2019, file photo former Fed Chair Janet Yellen speaks with FOX Business Network guest anchor Jon Hilsenrath in the Fox Washington bureau in Washington. (AP Photo/Andrew Harnik, File)

Awaiting Yellen at Treasury: Yet another daunting crisis

Nov. 24, 2020 12:01 AM EST

WASHINGTON (AP) — Janet Yellen is in line for another top economic policy job — just in time to confront yet another crisis. Yellen, President-elect Joe Biden's apparent choice for treasury secretary, served on the Federal Reserve's policymaking committee during the 2008-2009 financial crisis that...

Turkish central bank hikes rates to support currency

Nov. 19, 2020 7:03 AM EST

ANKARA, Turkey (AP) — Turkey’s central bank raised its benchmark interest rate on Thursday, when it held its first meeting under its new chief, in a bid to tame inflation and to prop up the struggling currency. The bank said it was raising the one-week repo rate by 4.75 percentage points to 15%. The...

FILE - In this Dec. 12, 2019, file photo workers process chickens at the Lincoln Premium Poultry plant, Costco Wholesale's dedicated poultry supplier, in Fremont, Neb. U.S. wholesale prices rose 0.3% in August 2020, just half the July gain, as food and energy prices decline. The Labor Department said Thursday, Sept. 10 that the August advance in the producer price index — which measures inflation before it reaches consumers — followed a 0.6% surge in June which was the biggest monthly gain since October 2018.  (AP Photo/Nati Harnik, File)

Wholesale prices rise 0.3%, but inflation not the worry now

Nov. 13, 2020 9:59 AM EST

WASHINGTON (AP) — U.S. wholesale prices rose moderately in October as food costs jumped by the largest amount in five months. The Labor Department reported Friday that its producer price index, which measures inflation pressures before they reach the consumer, increased 0.3% last month, slightly lower than...

A Target employee hands a customer a curbside pickup purchase in Jackson, Miss., Thursday, Nov. 5, 2020.  U.S. consumer prices were unchanged in October, the lowest reading in five months and an indication that the price spike seen this summer is beginning to fade as coronavirus cases start to increase.  (AP Photo/Rogelio V. Solis)

US consumer prices unchanged in October, lowest in 5 months

Nov. 12, 2020 9:43 AM EST

WASHINGTON (AP) — U.S. consumer prices were unchanged in October, the lowest reading in five months, suggesting that a price spike over the summer is beginning to fade as coronavirus cases spread. The flat reading for last month followed a gain of 0.2% in September. Core inflation, which excludes volatile...

US consumer prices were unchanged in October, the lowest reading in 5 months, as inflation slows after a summer spike

Nov. 12, 2020 8:37 AM EST
WASHINGTON (AP) — US consumer prices were unchanged in October, the lowest reading in 5 months, as inflation slows after a summer spike.
People walk past an electronic stock board showing Japan's Nikkei 225 index at a securities firm in Tokyo Thursday, Nov. 12, 2020. Stocks fell back across Asia on Thursday after gains for big technology shares pushed most Wall Street benchmarks higher. (AP Photo/Eugene Hoshiko)

Asian shares slip on faltering hopes for COVID vaccines

Nov. 11, 2020 11:21 PM EST

Stocks fell back across Asia on Thursday after gains for big technology shares pushed most Wall Street benchmarks higher. News of potentially effective vaccines for COVID-19 has been countered by concerns over the logistical challenges of ensuring access to billions of people and over rising caseloads that are...

People walk inside historical Covered Bazar, one of homes of exchange offices in Istanbul, Friday, Aug. 7, 2020. Turkey's currency tumbled further Friday, hitting another record low. The Turkish lira dropped to 7.3677 against the dollar before making a recovery. The lira is down about 19% versus the U.S. currency since the beginning of the year. (AP Photo/Emrah Gurel)

Turkey replaces central bank head as lira sees record lows

Nov. 7, 2020 1:11 AM EST

ANKARA, Turkey (AP) — Turkish President Recep Tayyip Erdogan on Saturday dismissed the head of the country’s central bank following a period of high inflation and record lows for the lira. Former Finance Minister Naci Agbal was brought in to replace Murat Uysal, according to a presidential decree...

Text of the Federal Reserve's statement after its meeting

Nov. 5, 2020 2:36 PM EST

WASHINGTON (AP) — Below is the statement the Fed released Thursday 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 COVID-19...

FILE - In this Sept. 11, 2020 file photo, European Central Bank (ECB) President Christine Lagarde attends a news conference during the Informal Meeting of Economics and Finance Ministers in Berlin, Germany.   The European Central Bank held off from strengthening its stimulus programs despite growing concern that a renewed surge in COVID-19 cases could stall the economy’s recovery from the deep downturn early this year.  The bank on Thursday, Oct. 29,  made no change to its 1.35 trillion ($1.58 trillion) pandemic emergency bond purchase program, which pumps newly created money into the economy to keep credit flowing to businesses and promote economic activity.   Hannibal Hanschke/Pool Photo via AP, File)

European Central Bank: Just wait until December

Oct. 29, 2020 12:33 PM EDT

FRANKFURT, Germany (AP) — The European Central Bank held off from strengthening its current economic stimulus but its President Christine Lagarde said there was “little doubt” that more action would be coming at its December meeting as surging coronavirus infections and new restrictions on...

Turkey central bank keeps rate on hold despite currency drop

Oct. 22, 2020 7:34 AM EDT

ISTANBUL (AP) — Turkey’s Central Bank kept its key interest rate on hold at 10.25% on Thursday, despite market expectations for an increase that would help support the currency. The bank surprised last month with a 2 percentage point rate increase, its first hike in two years, as it tried to contain...