Latest Inflation News

Venezuela president boosts minimum wage as inflation soars

Jun. 20, 2018 8:10 PM EDT

CARACAS, Venezuela (AP) — Venezuela's president says he is again raising the minimum wage, though it still will be below the equivalent of $2 a month as inflation soars in the crisis-stricken country. President Nicolas Maduro made the announcement Wednesday before a cheering crowd of workers. It is the...

Fed chair signals gradual rate hikes in tame inflation era

Jun. 20, 2018 10:46 AM EDT

WASHINGTON (AP) — The U.S. Federal Reserve will likely keep raising short-term interest rates at only a gradual pace, Fed chair Jerome Powell said Wednesday, partly because there are few signs, so far, that the ultra-low U.S. unemployment rate is pushing up inflation. In a speech in Portugal, Powell said...

As a business, your costs are up. What about your prices?

Jun. 19, 2018 1:58 PM EDT

NEW YORK (AP) — It's not just your electric bill that's going higher — all types of expenses are rising for small businesses as inflation grabs hold across the economy. That has owners more likely to raise their own prices than at any time in the last decade. Should you be among them? The percentage...

Why many Americans aren't benefiting from robust US economy

Jun. 16, 2018 9:53 AM EDT

WASHINGTON (AP) — "The economy," Federal Reserve Chairman Jerome Powell declared this week, "is doing very well." And it is. Steady hiring has shrunk unemployment to 3.8 percent — the lowest since the 1960's. Consumers are spending. Taxes are down. Inflation is tame. Factories are busy. Demand for...

Europe, Fed moves show global shift away from cheap money

Jun. 14, 2018 2:14 PM EDT

RIGA, Latvia (AP) — Two of the globe's most powerful central banks are gradually withdrawing the easy money policies that helped repair the damage wrought by the Great Recession and push stock markets to record highs. It's a sign of confidence in the economy, but with uncertain consequences for consumers...

US retail sales boom in May, but inflation is lurking

Jun. 14, 2018 10:13 AM EDT

WASHINGTON (AP) — U.S. retail sales rose by the most in six months in May, a sign that confident consumers are leading a strong economic rebound after a slow start to the year. Yet with high gas prices and inflation eating away at income gains made by workers, Americans may not be able to maintain this...

The Latest: European Central Bank says euro 'irreversible'

Jun. 14, 2018 9:59 AM EDT

RIGA, Latvia (AP) — The Latest on the European Central Bank's monetary policy meeting (all times local): 4:30 p.m. In response to a question about populist politicians' claim that the euro is not good for some countries, the head of the European Central Bank says the shared currency is irreversible. Mario...

Weak pay growth puzzles Fed chief, just like everyone else

Jun. 14, 2018 1:56 AM EDT

WASHINGTON (AP) — Halfway through a news conference Wednesday, the head of the world's most powerful central bank was asked a question weighing on the minds — and the checking accounts — of Americans everywhere: When will people finally start getting meaningful pay raises? Jerome Powell, the...

Asian stocks slump after Fed signals faster rate hikes

Jun. 14, 2018 12:28 AM EDT

SEOUL, South Korea (AP) — Asian stocks slumped Thursday after the U.S. Federal Reserve raised its key interest rate and said it would pick up the pace of future increases. South Korea's market benchmark tumbled 1.6 percent on the first trading day after a meeting of U.S. and North Korean leaders. KEEPING...

Fed raises key rate and sees possible acceleration in hikes

Jun. 13, 2018 5:14 PM EDT

WASHINGTON (AP) — The Federal Reserve took note of a resilient U.S. economy Wednesday by raising its benchmark interest rate for the second time this year and signaling that it may step up its pace of rate increases. The Fed now foresees four rate hikes this year, up from the three it had previously...