Latest Inflation News

Fed’s Powell sees steady growth, signals pause in rate cuts

Nov. 13, 2019 4:27 PM EST

WASHINGTON (AP) — Federal Reserve Chairman Jerome Powell said Wednesday that the Fed is likely to keep its benchmark short-term interest rate unchanged in the coming months, unless the economy shows signs of worsening. But for now, in testimony before a congressional panel, Powell expressed optimism about...

The Latest: Powell sees job participation as major problem

Nov. 13, 2019 12:09 PM EST

WASHINGTON (AP) — The Latest on Federal Reserve Chairman Jerome Powell’s testimony before the Joint Economic Committee about the outlook for the U.S. economy (all times local): ___ 11:55 a.m. Federal Reserve Chairman Jerome Powell says two major long-term issues facing the U.S. economy are sluggish...

US consumer prices up 0.4% in October; gasoline prices surge

Nov. 13, 2019 8:43 AM EST

WASHINGTON (AP) — Surging gasoline prices caused U.S. consumer prices to rise last month at the fastest pace since March. The Labor Department said Wednesday that its consumer price index rose 0.4% in October after a flat reading in September. Gasoline prices, after drops in August and September, jumped...

Egypt says inflation drops to 2.4%, lowest in 2 decades

Nov. 9, 2019 10:02 AM EST

CAIRO (AP) — Egypt says its annual inflation rate dropped to its lowest in nearly two decades, down to 2.4% in October from 4.3% the previous month. The figures, announced Saturday by the state statistics bureau, were driven by a decline in food and beverages prices. Those are the single largest component...

Eurozone forecast for long period of weak economic growth

Nov. 7, 2019 5:57 AM EST

LONDON (AP) — The European Union's executive branch has cut its growth forecasts for the 19-country eurozone for this year and next and warned that conditions could worsen in the face of an array of uncertainties. The European Commission said Thursday that the single currency bloc is expected to grow 1.1%...

Bank of England constrained by Brexit and general election

Nov. 6, 2019 11:55 AM EST

LONDON (AP) — Under normal circumstances, the Bank of England would be looking to cut interest rates. The economy is slowing and inflation is below target. But these are no normal times in Britain, with a general election due Dec. 12 that will have profound implications for the economy, as it could shape...

Zimbabwe police stop protest march by civil servants

Nov. 6, 2019 9:11 AM EST

HARARE, Zimbabwe (AP) — Zimbabwe police Wednesday blocked government workers from marching to protest for better salaries, a day after dozens of public hospital doctors were fired for striking for more pay. Strikes have become frequent in the southern African country in recent weeks as the economy...

Eurozone economy grows at modest pact in third quarter

Oct. 31, 2019 7:20 AM EDT

FRANKFURT, Germany (AP) — The 19-country eurozone economy grew at a subdued pace in the third quarter, continuing a shaky upswing amid trade disputes and uncertainty over Brexit. At the same time, weaker inflation figures cast a shadow over the outlook and presented a challenge for the new president of the...

Fed cuts rates for a 3rd time but signals it will now pause

Oct. 30, 2019 5:53 PM EDT

WASHINGTON (AP) — The Federal Reserve cut short-term interest rates Wednesday for a third time this year to try to support the economy. But it signaled that it plans no further cuts unless it sees clear evidence that the economic outlook has worsened. For now, Chairman Jerome Powell sounded a bullish note...

The Latest: Powell says Fed working on inflation policy

Oct. 30, 2019 3:08 PM EDT

WASHINGTON (AP) — The Latest on the Federal Reserve's monetary policy meeting (all times local): 3 p.m. Federal Reserve Chairman Jerome Powell says the bank will likely complete in the middle of next year its review of its policy framework for achieving 2% inflation. Price gains have consistently run...