Latest Inflation News

FILE - A man walks out of a Marc's Store,  Friday, Jan. 8, 2021, in Mayfield Heights, Ohio.  Fewer Americans applied for unemployment benefits last week, lowering claims to 900,000, still a historically high level that points to further job cuts in a raging pandemic. (AP Photo/Tony Dejak, file)

Biden inherits damaged economy, with signs of hope emerging

Jan. 21, 2021 4:38 PM EST

WASHINGTON (AP) — President Joe Biden has inherited a badly damaged economy pulverized by the pandemic, with 10 million fewer jobs than a year ago and as many as one in 6 small businesses shut down. Yet there are also signs of resilience and recovery that suggest the prospect of a rebound, perhaps a robust...

FILE - In this Nov. 23, 2020 file photo, stone sculptures adorn the New York Stock Exchange.  Stocks are pulling lower again on Friday, Jan. 15, 2021,  after reports showed the pandemic is deepening the hole for the economy, as Washington prepares to throw it another lifeline.   (AP Photo/Seth Wenig, File)

Stocks fall as economic pain deepens, rally runs out of gas

Jan. 15, 2021 4:27 PM EST

NEW YORK (AP) — Wall Street closed out its first losing week in three with another drop on Friday after reports showed the pandemic is deepening the hole for the economy, as Washington prepares to throw it another lifeline. The S&P 500 fell 27.29, or 0.7%, to 3,768.25, with stocks of companies that...

FILE - In this April 29, 2020 file photo, amid concerns of the spread of COVID-19, a shopper wears a mask as she looks over meat products at a grocery store in Dallas.  U.S. wholesale prices rose 0.3% in December led by a the biggest jump in energy costs since June. The Labor Department reported Friday, Jan. 15, 2021 that the gain in its producer price index, which measures inflation pressures before they reach consumers, followed a modest 0.1% gain in November and matched the 0.3% rise in October.(AP Photo/LM Otero, File)

December wholesale prices up 0.3% with sharp jump in energy

Jan. 15, 2021 9:39 AM EST

WASHINGTON (AP) — U.S. wholesale prices rose 0.3% in December led by a the biggest jump in energy costs since June. The Labor Department reported Friday that the gain in its producer price index, which measures inflation pressures before they reach consumers, followed a modest 0.1% gain in November and...

A currency trader walks by the screens showing the Korea Composite Stock Price Index (KOSPI), right, and the foreign exchange rates at the foreign exchange dealing room in Seoul, South Korea, Friday, Jan. 15, 2021. Asian shares were mixed on Friday after a late slide in several Big Tech stocks left major indexes lower on Wall Street. (AP Photo/Lee Jin-man)

Asian shares mixed following Biden speech, Wall St retreat

Jan. 14, 2021 11:08 PM EST

Asian shares were mixed on Friday after a late slide in several Big Tech stocks left major indexes lower on Wall Street. U.S. futures were trading slightly lower after President-elect Joe Biden announced his plans to propose a $1.9 billion package to help along a recovery from the coronavirus pandemic. Biden...

Federal Reserve Chairman Jerome Powell testifies before a House Financial Services Committee hearing on Capitol Hill in Washington, Wednesday, Dec. 2, 2020. (Greg Nash/Pool via AP)

Powell signals Fed will keep aiding economy with bond buying

Jan. 14, 2021 4:50 PM EST

WASHINGTON (AP) — Federal Reserve Chair Jerome Powell sought Thursday to tamp down any concerns that the Fed might soon withdraw some of its support for the U.S. economy and stressed that any such pullback would be signaled far in advance. During an online discussion hosted by Princeton University, from...

A currency trader passes by monitors showing the Korea Composite Stock Price Inde, and foreign exchange rate at the foreign exchange dealing room of a KB Kookmin Bank branch in Seoul, South Korea, Thursday, Jan. 14, 2021. Shares were mostly higher in Asia on Thursday after a lackluster day on Wall Street, where major indexes spent the day drifting up and down near their record highs. (AP Photo/Ahn Young-joon)

Asian shares mixed after lackluster day on Wall Street

Jan. 13, 2021 10:11 PM EST

Shares were mostly higher in Asia on Thursday after a lackluster day on Wall Street, where major indexes spent the day drifting up and down near their record highs. Benchmarks rose in Hong Kong, Tokyo and Sydney but fell in Shanghai. U.S. futures were trading slightly higher after the U.S. House of...

A shopper loads her basket next to a display of paper towels in a Costco warehouse in this photograph taken Wednesday, Nov. 18, 2020, in Sheridan, Colo.  U.S. consumer prices edged up 0.2% in November as a rise in energy costs and variety of other items offset a drop in food costs. The Labor Department reported on Thursday, Dec. 10, that the gain in the consumer price index followed an unchanged reading in October and matched the 0.2% September advance. (AP Photo/David Zalubowski)

Consumer prices up 0.4% in December led by higher gas prices

Jan. 13, 2021 9:26 AM EST

WASHINGTON (AP) — U.S. consumer prices rose 0.4% in December, led by a sharp rise in gasoline prices. Last month's increase, the largest in four months, followed a 0.2% rise in November and no change at all in October, according to Labor Department numbers released Wednesday. Inflation for all of 2020...

A woman walks past a bank's electronic board showing the Hong Kong share index at Hong Kong Stock Exchange in Hong Kong Tuesday, Jan. 12, 2021. Asian stocks advanced Tuesday as investors watched for details of U.S. President-elect Joe Biden's promised economic stimulus plan. (AP Photo/Vincent Yu)

Asian stocks gain as markets watch for Biden stimulus plan

Jan. 12, 2021 12:02 AM EST

BEIJING (AP) — Asian stocks advanced Tuesday as investors watched for details of President-elect Joe Biden's promised economic stimulus plan. Shanghai, Tokyo and Hong Kong were higher. Seoul declined while Sydney swung between gains and losses. Overnight, Wall Street declined following a string of...

FILE - This Nov. 23, 2020 file photo shows the New York Stock Exchange in New York.  U.S. stocks are ticking higher on Friday, Jan. 8, 2021, despite a sober reminder of how many jobs the pandemic is destroying, as Wall Street keeps focusing more on the economy’s potentially brighter future than its current pain. (AP Photo/Seth Wenig)

Stock market shakes off a slump to reach more record highs

Jan. 8, 2021 5:16 PM EST

Wall Street notched more milestones Friday as the market largely shrugged off another discouraging jobs report amid expectations that the incoming Biden administration will pump more aid into the pandemic-ravaged economy. The S&P 500 rose 0.5%, its second straight record high, after bouncing back from a...

FILE - This May 22, 2020, file photo shows the Federal Reserve building in Washington.  Newly released transcripts show that many Federal Reserve officials had concerns in late 2015 over whether they were making a mistake in raising a key interest rate for the first time in nearly decade. Transcripts of their discussions, released Friday, Jan. 8, 2021 showed that the chief concern was whether the Fed would be acting prematurely in starting to raise rates given how low inflation was at the time. (AP Photo/Patrick Semansky, File)

Fed transcripts show doubts about need for 2015 rate hike

Jan. 8, 2021 12:31 PM EST

WASHINGTON (AP) — Newly released transcripts show that many Federal Reserve officials had concerns in late 2015 over whether they were making a mistake in raising a key interest rate for the first time in nearly decade. Transcripts of their discussions, released Friday, showed that the chief concern was...