Latest Inflation News

This week: Consumer confidence, Dick's Sporting Goods earnings and the latest US inflation reading

May. 27, 2024 03:13 AM EDT

A look at some of the key business events and economic indicators upcoming this week: HOW CONFIDENT? The Conference Board on Tuesday issues its consumer confidence index for May. Confidence deteriorated in April for the third straight month as Americans...

In one North Carolina county, it's 'growth, growth, growth.' But will Biden reap the benefit?

May. 27, 2024 03:08 AM EDT

SILER CITY, N.C. (AP) — At the epicenter of President Joe Biden’s promised economic boom, a slow tractor can still halt traffic. Just 81,000 people live in rural Chatham County, North Carolina. There are 1,076 farms. The old mill now houses a dance studio, a grocer and a...

Stock market today: Asian shares mostly higher after rebound on Wall St

May. 27, 2024 02:23 AM EDT

Asian shares were mostly higher on Monday after U.S. stocks bounced back from Wall Street’s worst day since April to finish higher for the week. U.S. futures slipped while oil prices advanced. Tokyo's Nikkei 225 added 0.7% to 38,900.02 and the Kospi in Seoul jumped...

Stock market today: Nasdaq sets another record as Wall Street wins back earlier losses

May. 24, 2024 17:20 PM EDT

NEW YORK (AP) — U.S. stocks rose Friday in a bounce back from Wall Street’s worst day since April. The S&P 500 gained 36.88 points, or 0.7%, to 5,304.72 and won back all its losses from the prior two days. It eked out a tiny gain for the week, enough to extend its weekly...

Long-term mortgage rates ease for third straight week, dipping to just below 7%

May. 23, 2024 17:36 PM EDT

LOS ANGELES (AP) — The average rate on a 30-year mortgage dipped this week to just below 7% for the first time since mid April, a modest boost for home shoppers navigating a housing market dampened by rising prices and relatively few available properties. The rate fell to 6.94%...

Poverty in Lebanon tripled over a decade, World Bank says

May. 23, 2024 07:46 AM EDT

BEIRUT (AP) — Poverty in Lebanon tripled over the course of a decade during which the small Mediterranean country slid into a protracted financial crisis, the World Bank said Thursday. The percentage of people in Lebanon living below the poverty line rose from 12% in 2012 to 44% in...

Stock market today: Asian shares are mixed, with China stocks down, after Wall St retreat

May. 23, 2024 00:49 AM EDT

TOKYO (AP) — Asian shares were trading mixed Thursday, as investor sentiment in Tokyo was boosted by news of soaring Nvidia earnings. Japan's benchmark Nikkei 225 gained 1.1% to 39,054.81. Australia's S&P/ASX 200 sank 0.5% to 7,807.10. South Korea's Kospi added 0.2% to...

British prime minister sets July 4 election as his Conservatives face biggest challenge in a decade

May. 22, 2024 17:08 PM EDT

LONDON (AP) — British Prime Minister Rishi Sunak on Wednesday set July 4 as the date for a national election that will determine who governs the U.K., as his divided and demoralized Conservative Party faces its biggest challenge to its 14-year rule. “Now is the moment for Britain...

Federal Reserve minutes: Policymakers saw a longer path to rate cuts

May. 22, 2024 14:33 PM EDT

WASHINGTON (AP) — After several unexpectedly high inflation readings, Federal Reserve officials concluded at a meeting earlier this month that it would take longer than they previously thought for inflation to cool enough to justify reducing their key interest rate, now at a 23-year high. ...

UK inflation lowest in 3 years. Prime Minister Sunak makes it a focus in election call for July 4

May. 22, 2024 13:10 PM EDT

LONDON (AP) — Inflation in the U.K. fell sharply to its lowest level in nearly three years in April on the back of big declines in domestic bills, official figures showed Wednesday. The drop was widely seen as a trigger for Prime Minister Rishi Sunak to call a general election for July 4. ...