Latest Inflation News

World shares mostly higher ahead of US price data

Jun. 24, 2021 04:54 AM EDT

BANGKOK (AP) — World shares were mostly higher Thursday as investors awaited new U.S. inflation data. Benchmarks rose in Paris, Frankfurt and Hong Kong but were flat in Tokyo and Shanghai. Fresh data on inflation will come on Friday with the...

Asian shares mostly higher after listless session on Wall St

Jun. 24, 2021 00:34 AM EDT

BANGKOK (AP) — Shares were mostly higher in Asia on Thursday after a listless day of trading on Wall Street as the recent bout of nerves over Federal Reserve policy fades. Markets advanced in Tokyo, Seoul and Hong Kong while Sydney and Shanghai declined. ...

Czech central bank raises key rate to 0.5% to tame inflation

Jun. 23, 2021 09:10 AM EDT

PRAGUE (AP) — The Czech Republic’s central bank has increased its key interest rate by a quarter-point to 0.5% in efforts to tame inflation as the economy recovers from the coronavirus pandemic. Several members of the bank’s board had earlier indicated that...

Inflation poses new challenge for pandemic-weary businesses

Jun. 23, 2021 08:29 AM EDT

NEW YORK (AP) — Small businesses that endured shutdowns and lower revenue during the COVID-19 outbreak now must contend with another crisis: spiking prices for goods and services that squeeze profits and force many owners to pass the increases along to customers. Mickey...

Asia stocks rise after Fed chair says US inflation temporary

Jun. 22, 2021 23:36 PM EDT

BEIJING (AP) — Asian stock markets followed Wall Street higher on Wednesday after the Federal Reserve chairman said higher U.S. inflation probably is temporary, helping to calm fears central bankers might feel pressure to roll back economic stimulus. Market benchmarks...

Fed's Powell says high inflation temporary, will 'wane'

Jun. 22, 2021 15:57 PM EDT

WASHINGTON (AP) — Federal Reserve Chair Jerome Powell on Tuesday responded to concerns from Republican lawmakers about spiking inflation by reiterating his view that current price increases will likely prove temporary. Consumer prices jumped 5% in May compared with a...

Paid in full? Biden, GOP struggle over infrastructure costs

Jun. 21, 2021 20:35 PM EDT

WASHINGTON (AP) — Congressional negotiators and the White House appear open to striking a roughly $1 trillion deal on infrastructure. But they are struggling with the hard part — how to pay for it. As President Joe Biden jumps back into the talks this week, the...

Powell says economy growing rapidly, inflation up 'notably'

Jun. 21, 2021 19:54 PM EDT

WASHINGTON (AP) — The economy is growing at a healthy clip, and that has accelerated inflation, Federal Reserve Chair Jerome Powell says in written testimony to be delivered Tuesday at a congressional oversight hearing. Still, Powell reiterated his view that...

Inflation ahead? Even a top economist says it's complicated

Jun. 21, 2021 04:37 AM EDT

WASHINGTON (AP) — Two months of sharply rising prices have raised concerns that record-high government financial aid and the Federal Reserve’s ultra-low interest rate policies — when the economy is already surging — have elevated the risk of accelerating inflation. ...

Biden objects to raising gas tax to pay for infrastructure

Jun. 18, 2021 17:54 PM EDT

WASHINGTON (AP) — The White House made clear Friday that President Joe Biden was opposed to letting the federal gasoline tax rise at the rate of inflation to help pay for an infrastructure package that a bipartisan group of 21 senators is trying to craft. The gas tax...