Latest Inflation News

FILE - This July 21, 2020 file photo shows The New York Stock Exchange.  Stocks are rebounding in early trading on Wall Street Wednesday, Aug. 12, carrying the S&P 500 back toward the cusp of its record high. The benchmark index was up 1% after the first half-hour of trading and on pace for its eighth gain in nine days.  (AP Photo/Mark Lennihan, File)

Stocks rebound on Wall Street as S&P 500 nears record again

Aug. 12, 2020 11:56 AM EDT

NEW YORK (AP) — Stocks are rebounding on Wall Street Wednesday, carrying the S&P 500 back toward the edge of its record high. The benchmark index was up 1.3% in midday trading and on pace for its eighth gain in nine days. It pulled within 0.3% of its record, which was set in February when the...

FILE - In this March 31, 2020 file photo, prices are seen on a gas pump in Brandon, Miss. U.S. consumer prices jumped 0.6% in July as gasoline prices continued to rise. The Labor Department reported Wednesday, Aug. 12,  that the increase in its consumer price index matched a 0.6% rise in June. (AP Photo/Julio Cortez, File)

US consumer prices rose 0.6% in July, matching June uptick

Aug. 12, 2020 9:17 AM EDT

WASHINGTON (AP) — U.S. consumer prices jumped 0.6% in July as gasoline prices continued to rise. The Labor Department reported Wednesday that the increase last month in its consumer price index matched a 0.6% rise in June. The uptick was about twice what economists expected. But inflation remains in check:...

FILE - In this Aug. 27, 2013, file photo, workers load large containers of nectarines for sorting at Eastern ProPak Farmers Cooperative in Glassboro, N.J. U.S. wholesale prices fell 0.6% in February 2020, the biggest decline in five years, led by a sharp drop in energy costs. The Labor Department said the decline in its producer price index, which measures price pressures before they reach the consumer, followed a 0.5% rise in January. It was the sharpest decline since a similar 0.6% drop in January 2015. (AP Photo/Mel Evans, File)

US producer prices up 0.6% in July, biggest jump since 2018

Aug. 11, 2020 9:04 AM EDT

WASHINGTON (AP) — U.S. wholesale prices shot up an unexpected 0.6% in July, biggest gain since October 2018, as energy prices moved sharply higher. The Labor Department said Tuesday that the jump last month in its producer price index — which measures inflation before it reaches consumers —...

FILE - In this March 3, 2020 file photo, Federal Reserve Chair Jerome Powell speaks during a news conference to discuss an announcement from the Federal Open Market Committee, in Washington.  Federal Reserve officials are grappling this week with the timing and scope of their next policy moves at a time when the raging viral pandemic has weakened the U.S. economy. No major changes are likely when the Fed releases a statement Wednesday, July 29,  after its two-day policy meeting ends and just before Powell holds a news conference.  (AP Photo/Jacquelyn Martin, File)

Fed sees dim economic outlook as virus squeezes economy

Jul. 29, 2020 5:28 PM EDT

WASHINGTON (AP) — Federal Reserve Chair Jerome Powell warned Wednesday that the viral epidemic is endangering the modest economic recovery that followed a collapse in hiring and spending this spring. As a result, he said, the Fed plans to keep interest rates pinned near zero well into the future. That...

Text of the Fed's statement after its meeting Wednesday

Jul. 29, 2020 2:11 PM EDT

WASHINGTON (AP) — Below is the statement the Fed released Wednesday after its policy meeting ended: The Federal Reserve is committed to using its full range of tools to support the U.S. economy in this challenging time, thereby promoting its maximum employment and price stability goals. The coronavirus...

FILE - In this June 30, 2020 file photo, Federal Reserve Chair Jerome Powell testifies during a House Financial Services Committee hearing on the coronavirus response on Capitol Hill in Washington.  The Federal Reserve has opened one of its lending programs to nonprofit groups, including hospitals, educational institutions, and social service organizations. The Fed said Friday, July 17,  that its Main Street Lending Program, which is targeted to mid-sized businesses, will now extend credit to nonprofits with at least 10 employees and endowments of less than $3 billion. (Tasos Katopodis/Pool via AP, File)

Fed wrestles with its next moves as virus stalls US economy

Jul. 29, 2020 12:01 AM EDT

WASHINGTON (AP) — Federal Reserve officials are grappling this week with the timing and scope of their next policy moves at a time when the raging viral pandemic has weakened the U.S. economy. No major changes are likely when the Fed releases a statement Wednesday after its two-day policy meeting ends and...

FILE - In this April 16, 2020, file photo, a customer puts gold bars on basket for sell to a gold shop in Bangkok, Thailand. The price of gold surged more than $30 on Monday, July 27, 2020 to over $1,926 per ounce as investors step up buying of the precious metal often sought in times of uncertainty. Gold was trading at $1,926.20 by early afternoon in Asia, up 1.5%, after surging over the weekend. (AP Photo/Sakchai Lalit, File)

Gold's luster grows as investors hedge in uncertain times

Jul. 27, 2020 5:17 PM EDT

Wall Street is in the throes of a gold rush, as investors drive the price of the precious metal to new heights. Gold has been the best investment of the year so far. The price of the precious metal has climbed nearly 27% this year, more than triple the return of the largest U.S. bond funds and towering over the...

Andrea Cortes walks in the hallway of the Hospital Pineiro where she works as a nurse in Buenos Aires, Argentina, Friday, July 17, 2020.

Pandemic tough on Argentina's already overworked care givers

Jul. 23, 2020 1:36 PM EDT

BUENOS AIRES, Argentina (AP) — Even before the new coronavirus hit, Argentina's health care workers were struggling, most of them often working more than 12 hours a day at multiple jobs to make ends meet amid the country's overheated inflation. The pandemic has meant even tougher times on the job,...

FILE - In this Monday Jan. 28, 2019 file photo Secretary of State Alex Padilla talks during a news conference at the Capitol in Sacramento, Calif. Padilla announced a ballot initiative that would raise the caps on awards in medical malpractice lawsuits is eligible for the November 2022 election. (AP Photo/Rich Pedroncelli,File)

Proposal to raise malpractice caps qualifies for 2022 ballot

Jul. 22, 2020 7:24 PM EDT

SACRAMENTO, Calif. (AP) — California patients could get more money from medical malpractice lawsuits under a ballot initiative that is now eligible for the 2022 November election. Since 1975, California has capped damages for pain and suffering in medical malpractice lawsuits at $250,000. Signed into law...

Zimbabwe's economy to shrink by 4.5%, says finance minister

Jul. 16, 2020 11:47 AM EDT

HARARE, Zimbabwe (AP) — Zimbabwe’s economy is expected to shrink by 4.5% this year, the country’s finance minister said Thursday, although others say it will contract even more, as the effects of the coronavirus and a drought take a toll on the struggling southern African nation. The...