Latest Inflation News

Asian shares gain after Fed chair signals slower rate hikes

Nov. 30, 2022 23:18 PM EST

BANGKOK (AP) — Shares advanced in Asia on Thursday after a rally on Wall Street spurred by the Federal Reserve chair's comments on easing the pace of interest rate hikes to tame inflation. Signs that China may be shifting its approach to containing COVID-19 outbreaks to focus more...

Editorial Roundup: Mississippi

Nov. 30, 2022 16:51 PM EST

Tupelo Daily Journal. November 26, 2022. Editorial: Lawmakers should consider tax break on baby supplies In his executive budget proposal, Gov. Tate Reeves called for the complete elimination of the state income tax. This has been a bad idea for the past few years...

How major US stock indexes fared Wednesday 11/30/2022

Nov. 30, 2022 16:24 PM EST

Stocks rallied on Wall Street after the head of the Federal Reserve said the central bank could soon ease up on its aggressive pace of interest rate hikes aimed at taming inflation. While citing some signs that inflation is cooling, Fed Chair Jerome Powell stressed Wednesday that...

Powell: Fed to keep rates higher for longer to cut inflation

Nov. 30, 2022 16:14 PM EST

WASHINGTON (AP) — The Federal Reserve will push rates higher than previously expected and keep them there for an extended period, Chair Jerome Powell said Wednesday in remarks likely intended to underscore the Fed's single-minded focus on combating stubborn inflation. Yet in a...

Higher food prices worsen hunger crisis this holiday season

Nov. 30, 2022 14:36 PM EST

WASHINGTON (AP) — Staffers at Bread for the City, a venerable charity in the nation's capital, thought they were prepared for this year's annual pre-Thanksgiving Holiday Helpers food giveaway. The pandemic had faded, but inflation was high, so they budgeted to give out 12,000 meals, 20% higher...

Amazon says it had its biggest Thanksgiving shopping weekend

Nov. 30, 2022 12:00 PM EST

NEW YORK (AP) — Amazon said Wednesday it had its biggest ever Thanksgiving holiday shopping weekend, aided by a record number of consumers looking for deals online amid high inflation. The e-commerce company does not typically share how much it earns during its sales events and...

US job openings fell in October to still-high level

Nov. 30, 2022 11:40 AM EST

WASHINGTON (AP) — U.S. job openings dropped in October but remained high, a sign that businesses became slightly less needy for workers as the Federal Reserve ramps up interest rates in an effort to cool the economy. Employers posted 10.3 million job vacancies in October, down...

The AP Interview: IMF head urges China to end mass lockdowns

Nov. 30, 2022 10:51 AM EST

BERLIN (AP) — It is time for China to move away from massive lockdowns and toward a more targeted approach to COVID-19, the head of the International Monetary Fund said days after widespread protests broke out, a change that would ease the impact to a world economy already struggling with high...

US revises up last quarter's economic growth to 2.9% rate

Nov. 30, 2022 09:24 AM EST

WASHINGTON (AP) — Despite high interest rates and chronic inflation, the U.S. economy grew at a 2.9% annual rate from July through September, the government said Wednesday in a healthy upgrade from its initial estimate. Last quarter's rise in the U.S. gross domestic product — the...

Inflation in Europe eases but still in painful double digits

Nov. 30, 2022 07:46 AM EST

FRANKFURT, Germany (AP) — Inflation in Europe has eased for the first time in more than a year as energy prices drifted down from painful highs, but the double-digit rate still hovers near a record that has robbed consumers of their spending power and led economists to predict a recession. ...