Latest Inflation News

Sri Lanka's central bank raises key rates to curb inflation

Jul. 07, 2022 07:15 AM EDT

COLOMBO, Sri Lanka (AP) — Sri Lanka’s Central Bank has raised its key interest rates to their highest levels in more than 20 years to try to contain inflation that has added to the country’s economic woes. Recent price hikes have been a severe blow, especially for the South...

Asian stocks higher after Fed says rate hikes may be needed

Jul. 07, 2022 01:17 AM EDT

BEIJING (AP) — Asian stock markets gained Thursday after the Federal Reserve said higher U.S. interest rates might be needed to cool inflation. Shanghai, Tokyo and Sydney advanced. Hong Kong declined. Oil prices edged higher after falling below $100 per barrel this week. ...

Inflation pushed 71M people into poverty since Ukraine war

Jul. 07, 2022 04:58 AM EDT

DUBAI, United Arab Emirates (AP) — A staggering 71 million more people around the world are experiencing poverty as a result of soaring food and energy prices that climbed in the weeks following Russia's invasion of Ukraine, the United Nations Development Program said in a report Thursday. ...

Asian stocks higher after Fed says rate hikes may be needed

Jul. 06, 2022 23:34 PM EDT

BEIJING (AP) — Asian stock markets gained Thursday after the Federal Reserve said higher U.S. interest rates might be needed to cool inflation. Shanghai, Tokyo and Sydney advanced. Hong Kong declined. Oil prices fell more than $1 per barrel to stay below $100. Wall...

Biden in Ohio spotlights effort to rescue union pensions

Jul. 06, 2022 17:34 PM EDT

CLEVELAND (AP) — Reassuring frustrated blue-collar voters, President Joe Biden on Wednesday visited Ohio iron workers to highlight federal action to shore up troubled pension funding for millions now on the job or retired — and to make his political case that he's been a champion for workers in...

Fed: Sharply higher rates may be needed to quell inflation

Jul. 06, 2022 15:52 PM EDT

WASHINGTON (AP) — Federal Reserve officials were concerned at their meeting last month that consumers were increasingly anticipating higher inflation, and they signaled that much higher interest rates could be needed to restrain it. The policymakers also acknowledged, in minutes...

Slovakia's coalition in crisis over tackling high inflation

Jul. 06, 2022 13:46 PM EDT

BRATISLAVA, Slovakia (AP) — Slovakia’s government is facing another serious crisis after a junior party threatened on Wednesday to withdraw from the four-party coalition over disagreements about how to deal with rising inflation. The liberal Freedom and Solidarity party said it...

EXPLAINER: Fears of a natural gas emergency stalk Europe

Jul. 06, 2022 12:13 PM EDT

It’s not a summer heat wave that's making European leaders and businesses sweat. It's fear that Russia's manipulation of natural gas supplies will lead to an economic and political crisis next winter. Or, in the worst case, even sooner if Russia suddenly cuts off the gas. Here are...

Oklahoma revenue collections up 15% during last fiscal year

Jul. 06, 2022 11:38 AM EDT

OKLAHOMA CITY (AP) — Overall receipts to Oklahoma's treasury were up 15% during the fiscal year that ended June 30, fueled by record-high tax collections on oil and natural gas production, State Treasurer Randy McDaniel said Tuesday. Overall collections for the 2022 fiscal year...

Biden to Ohio, spotlighting rescued pensions for millions

Jul. 06, 2022 11:29 AM EDT

WASHINGTON (AP) — Seeking to boost his standing with frustrated blue-collar voters, President Joe Biden on Wednesday will use the backdrop of a union training center in Cleveland to tell workers his policies will shore up troubled pension funding for millions now on the job or retired. ...