Latest Inflation News

In Biden's big bill: Climate, health care, deficit reduction

Aug. 12, 2022 08:30 AM EDT

WASHINGTON (AP) — The biggest investment ever in the U.S. to fight climate change. A hard-fought cap on out-of-pocket prescription drug costs for Medicare recipients. A new corporate minimum tax to ensure big businesses pay their share. And billions left over to pay down federal...

House Dems set to overcome GOP for climate, health care win

Aug. 12, 2022 08:22 AM EDT

WASHINGTON (AP) — A flagship Democratic economic bill perched on the edge of House passage Friday, placing President Joe Biden on the brink of a back-from-the-dead triumph on goals for the climate, health care and taxes that could energize his party ahead of November’s elections. ...

World shares mostly higher after new signs inflation cooling

Aug. 12, 2022 06:30 AM EDT

BANGKOK (AP) — Shares opened higher in Europe after a mixed day in Asia on Friday following another encouraging report about U.S. inflation. The United Kingdom reported its economy contracted 0.1% in the last quarter as families cut back on spending to cope with price increases....

Asian shares mixed after new signs of cooling inflation

Aug. 12, 2022 00:47 AM EDT

BANGKOK (AP) — Shares were mixed Friday in Asia after a muddled day on Wall Street, where benchmarks meandered following another encouraging report about inflation. Tokyo’s Nikkei 225 surged 2.5%, catching up on gains after being closed Thursday for a holiday. Hong Kong and...

Explainer: Why gas prices are falling

Aug. 11, 2022 18:29 PM EDT

U.S. consumers are breathing a bit easier now that gasoline prices have come down from record levels, but pump prices are still high, and the two-month slide could be nearing an end. The nationwide average price for a gallon of gas dropped to $3.99 on Thursday, according to AAA....

Mexico raises key interest rate to 8.5%, highest in 16 years

Aug. 11, 2022 17:18 PM EDT

MEXICO CITY (AP) — Mexico’s central bank has raised its interbank interest rate by 0.75% to 8.5% Thursday — the highest level in the 16 years since comparable bank policies went into effect. The Bank of Mexico cited continuing inflationary pressures, and predicted inflation...

How major US stock indexes fared Thursday 8/11/2022

Aug. 11, 2022 16:30 PM EDT

An afternoon pullback left stock indexes on Wall Street mixed Thursday, erasing most of their morning gains fueled by another encouraging report about inflation. The S&P 500 closed 0.1% lower. The Nasdaq also fell, while the Dow Jones Industrial Average rose slightly. Investors weighed new data...

Bartering increases in Argentina as inflation keeps soaring

Aug. 11, 2022 15:53 PM EDT

BUENOS AIRES, Argentina (AP) — Argentina reported a monthly inflation rate of 7.4% in July, the highest number in two decades for a country where citizens are used to increasing prices. Over the past year, Argentina’s consumer prices have soared a whopping 71%, the INDEC national...

Politicians, energy experts, advocates on climate bill

Aug. 11, 2022 15:23 PM EDT

Congress is expected on Friday to pass a major bill that includes close to $375 billion in spending related to fighting climate change. The bill, called the Inflation Reduction Act, will infuse cash, subsidies and tax breaks into various sectors of the economy, all aimed at making green energy much...

Georgia's Kemp seeks tax breaks, rebutting Abrams on economy

Aug. 11, 2022 14:29 PM EDT

ATLANTA (AP) — Georgia GOP Gov. Brian Kemp unfurled the first major policy proposals of his reelection bid Thursday, pledging to spend $2 billion on another state income tax rebate and revival of a long-dormant state property tax break while contending with Democratic challenger Stacey Abrams...