Latest Inflation News

Europe's central bank hits pause on rate cuts as inflation takes its sweet time to come down to 2%

Jul. 18, 2024 03:31 AM EDT

Home buyers and businesses waiting for lower interest rates in Europe are going to have to wait a little longer as the European Central Bank takes its time to make sure stubborn inflation is firmly under control before lowering its benchmark rate again. The ECB's stance for now...

FACT FOCUS: A look at Biden's economic policies related to rising prices

Jul. 18, 2024 00:02 AM EDT

WASHINGTON (AP) — President Joe Biden's economic policies have been slammed by several speakers at the Republican National Conference. But some of the criticism was off base. Here's a look at the facts. ___ North Carolina Gov. Doug Burgum on the...

Ex-regional Fed president: Inflation headed lower, with interest rates likely to follow

Jul. 17, 2024 10:35 AM EDT

WASHINGTON (AP) — Having worked in the Federal Reserve system her entire career, Loretta Mester rose to become president of the Cleveland Fed for a decade until her retirement on June 30. During most of her years on the Fed's interest-rate-setting committee, Mester was likely to...

Bank of England faces dilemma after potential Taylor Swift upside impact on UK inflation

Jul. 17, 2024 06:26 AM EDT

LONDON (AP) — The Bank of England is facing a dilemma about whether to cut interest rates next month after official figures Wednesday showed inflation holding steady at its target against expectations of a modest decline, possibly as a result of Taylor Swift's Eras Tour. The Office...

Summer pause: Small business sales growth tapers in June as consumers take a breather on spending

Jul. 16, 2024 15:06 PM EDT

Small business sales growth slowed in June as consumers took a pause on spending. That's according to new data from financial services and payments provider Fiserv. Consumers have been reining in spending as high prices on groceries and other necessities and high...

Amazon Prime Day deals are almost here. Should you take advantage of them?

Jul. 16, 2024 15:05 PM EDT

NEW YORK (AP) — It's summertime, and the bargains seem easy at a time when many consumer prices are high. July sales events have become a seasonal revenue driver for the retail industry since Amazon launched its first Prime Day back in 2015. While consumers may be enticed by the...

IMF's economic view: Brighter outlook for China and India but tepid global growth

Jul. 16, 2024 09:49 AM EDT

WASHINGTON (AP) — The International Monetary Fund on Tuesday upgraded its economic outlook this year for China, India and Europe while modestly lowering expectations for the United States and Japan. But it says worldwide progress against accelerating prices has been slowed by...

Retail sales unchanged in June as inflation moderates, but still takes a bite

Jul. 16, 2024 08:47 AM EDT
WASHINGTON (AP) — Retail sales unchanged in June as inflation moderates, but still takes a bite.

Trump's economic plans include proposed tariffs, tax cuts and no taxes on tips. Details are scarce

Jul. 15, 2024 23:35 PM EDT

WASHINGTON (AP) — The first night of the Republican National Convention kept its official focus on the economy Monday even after Saturday’s shooting at a rally in Pennsylvania in which former President Donald Trump was injured. Speakers argued that Trump would fix inflation and...

Powell says Federal Reserve is more confident inflation is slowing to its target

Jul. 15, 2024 18:12 PM EDT

WASHINGTON (AP) — Chair Jerome Powell said Monday that the Federal Reserve is becoming more convinced that inflation is headed back to its 2% target and said the Fed would cut rates before the pace of price increases actually reached that point. “We've had three better readings,...