Latest Inflation News
Alabama lawmakers poised to cut sales tax on food in half
MONTGOMERY, Ala. (AP) — Alabama lawmakers are poised to remove half of the state's sales tax on food, a move that some legislators and advocacy groups had sought for decades but that gained bipartisan traction this year in the face of soaring food prices. The Senate Finance and...
Federal Reserve likely to skip interest rate hike at next meeting in June, officials signal
WASHINGTON (AP) — Leading Federal Reserve officials are sending out stronger signals that they will forego an interest rate increase at the central bank's next meeting in June, though they indicate hikes could resume later this year. “Skipping a rate hike at a coming meeting...
Stock market today: Wall Street slips as stocks slump worldwide
NEW YORK (AP) — Wall Street slipped as stocks slumped worldwide Wednesday on worries about the strength of the global economy and inflation. The S&P 500 fell 25.69, or 0.6%, to 4,179.83. The Dow Jones Industrial Average dropped 134.51, or 0.4%, to 32,908.27, and the Nasdaq...
US job openings hit 10.1 million and labor market still strong despite Fed efforts to cool economy
WASHINGTON (AP) — U.S. job openings rose unexpectedly in April, illustrating the resilience of the American labor market and complicating Federal Reserve efforts to fight inflation. Employers posted 10.1 million job openings last month, up from 9.7 million in March and the most...
German inflation slows to 6.1% in May, though food prices are still surging
BERLIN (AP) — German inflation eased to 6.1% in May following several months of declines, even as Europe's biggest economy registered another painful increase in food prices of nearly 15%. Preliminary figures show that the annual inflation rate was lower than the 7.2% registered in...
China factory activity slows, adding to economic strains
BEIJING (AP) — China's manufacturing slowdown deepened in May as consumer and export demand weakened, a survey showed Wednesday, adding to signs an economic rebound following the end of anti-virus controls is slowing. Chinese leaders are under pressure to shore up the recovery...
Ukraine's economy shows 'resilience' from Russian attacks, IMF says as it backs aid
FRANKFURT, Germany (AP) — Ukraine's economy is showing “remarkable resilience” following Russian attacks on its electricity infrastructure, officials from the International Monetary Fund said Tuesday as they signed off on an initial loan of $900 million and raised their estimate for the...
Consumer confidence declines again in May, 4th time in 5 months, particularly for older Americans
Consumer confidence fell in May as Americans, particularly older ones, became more pessimistic about the labor market, on top of elevated anxiety over inflation. The Conference Board reported Tuesday that its consumer confidence index fell to 102.3 in May from 103.7 in April. It’s...
Stock market today: Asia shares mixed as investors await debt ceiling vote, eye China economy
TOKYO (AP) — Asian shares were mixed in directionless trading Tuesday following a U.S. holiday, as optimism about a deal on the U.S. debt was dented by worries about the regional economy. Japan's benchmark Nikkei 225 lost 0.4% in morning trading to 31,119.27. Australia's...
What 5 more years of Erdogan's rule means for Turkey
ISTANBUL (AP) — Turkish President Recep Tayyip Erdogan won reelection in a runoff Sunday, following a nail-biter first round two weeks earlier. Having secured another five years, Erdogan now faces a host of domestic challenges in a deeply divided country, from a battered economy to pressure for...
