Latest Inflation News

US wage growth slowed in the final quarter of 2022

Jan. 31, 2023 08:45 AM EST

WASHINGTON (AP) — Pay and benefits for America's workers grew at a healthy but more gradual pace in the final three months of 2022, a third straight slowdown, which could help reassure the Federal Reserve that wage gains won't fuel higher inflation. Wages and benefits, such as...

US futures slide as corporate earnings pour in

Jan. 31, 2023 08:06 AM EST

Wall Street pared some steeper losses but markets were still down in premarket trading Tuesday as a deluge of major corporate earnings poured in ahead of Wednesday's Federal Reserve interest rate meeting. Futures for the Dow Jones industrials fell 0.4% and futures for the S&P 500...

Europe scrapes out economic growth by dodging gas disaster

Jan. 31, 2023 07:42 AM EST

FRANKFURT, Germany (AP) — Europe’s economy scraped out meager gains at the end of last year as galloping inflation fed by high energy prices and Russia’s invasion of Ukraine deterred people from spending in shops and restaurants. Economic output crept 0.1% higher in the last...

Asian shares fall in muted trading ahead of Fed meeting

Jan. 30, 2023 23:05 PM EST

TOKYO (AP) — Asian shares mostly fell in muted trading Tuesday as investors awaited decisions on interest rates and earnings reports from around the world. Traders were awaiting the U.S. Federal Reserve’s decision on interest rates, expected on Wednesday. They are also watching...

IMF upgrades outlook for the global economy in 2023

Jan. 30, 2023 22:39 PM EST

WASHINGTON (AP) — The outlook for the global economy is growing slightly brighter as China eases its zero-COVID policies and the world shows surprising resilience in the face of high inflation, elevated interest rates and Russia's ongoing war against Ukraine. That's the view of the...

This Week: Fed rates, Alphabet earnings, employment update

Jan. 30, 2023 13:31 PM EST

A look at some of the key business events and economic indicators upcoming this week: WATCHING THE FED The Federal Reserve will meet this week and announce its latest interest rate decision on Wednesday. The central bank is expected to raise its...

Egypt Central Bank: Pound slips to new low against dollar

Jan. 30, 2023 11:17 AM EST

CAIRO (AP) — The Egyptian pound dipped to a new low Monday of just over 30 for $1, as the cash-strapped North African country continues to battle surging inflation and foreign currency shortages, authorities said. The landmark slide in Egypt's Central Bank selling rate is the...

Fed, set to impose smaller hike, may hint of fewer increases

Jan. 30, 2023 11:02 AM EST

WASHINGTON (AP) — The Federal Reserve is poised this week to raise its benchmark interest rate for an eighth time since March. But the Fed will likely announce a smaller hike for a second straight time, and it could change some key wording in its post-meeting statement about future rate...

German economy shrank 0.2% in Q4, worse than expected

Jan. 30, 2023 08:19 AM EST

BERLIN (AP) — Germany's economy shrank by 0.2% in the fourth quarter compared with the previous three-month period, official figures showed Monday. The performance by Europe's biggest economy was worse than expected. Gross domestic product shrank for the first time since the first...

Will Europe's ban on Russian diesel hike global fuel prices?

Jan. 30, 2023 04:24 AM EST

FRANKFURT, Germany (AP) — Europe is taking another big step toward cutting its energy ties with Russia, banning imports of diesel fuel and other products made from crude oil in Russian refineries. The European Union ban takes effect Feb. 5 following its embargo on coal and most...