Latest Inflation News

Asian shares slide as Chinese growth data disappoints

Oct. 18, 2021 00:27 AM EDT

Asian shares were mostly lower on Monday after China reported its economy grew at a meager 4.9% annual pace in July-September. The Shanghai Composite index lost 0.4% to 3,559.96 while the Hang Seng in Hong Kong declined 0.4% to 25,246.38. Chinese...

Stocks end higher, giving S&P 500 its best week since July

Oct. 15, 2021 16:46 PM EDT

Wall Street added to its recent gains Friday as stocks closed higher, driving the S&P 500 to its best week since July. The S&P 500 rose 0.7% for its third straight gain and ended the week 1.8% higher. The Dow Jones Industrial Average rose 1.1% and the Nasdaq...

Asian shares rise after technology-powered rally on Wall St

Oct. 14, 2021 23:58 PM EDT

Asian shares were higher Friday after technology companies powered the biggest gain on Wall Street since March. All major regional indexes advanced, with Tokyo gaining 1.4%. Taiwan shares jumped 2.2% on news that computer chip maker TSMC upgraded...

US average mortgage rates jump; 30-year loan at 3.05%

Oct. 14, 2021 20:26 PM EDT

WASHINGTON (AP) — Average long-term mortgage rates jumped this week, with the benchmark 30-year loan again breaching 3%. Mortgage buyer Freddie Mac reported Thursday that the average rate for a 30-year mortgage rose to 3.05% from 2.99% last week. That is its highest...

IMF warns economy recovery threatened by virus, inflation

Oct. 14, 2021 16:17 PM EDT

WASHINGTON (AP) — The International Monetary Fund is warning of rising threats to the global economic recovery posed by the ongoing coronavirus pandemic and an outbreak of inflation. The lending agency called Thursday for greater efforts from wealthy nations to boost...

US wholesale prices rose record 8.6% over 12 months

Oct. 14, 2021 10:10 AM EDT

WASHINGTON (AP) — Inflation at the wholesale level rose 8.6% in September compared to a year ago, the largest advance since the 12-month change was first calculated in 2010. The Labor Department reported Thursday that the monthly increase in its producer price index,...

‘Make-or-break quarter’ on Wall Street as earnings roll in

Oct. 14, 2021 09:31 AM EDT

NEW YORK (AP) — Crunch time is coming to Wall Street. Throughout this gilded year for investors, growth has kept accelerating for all kinds of forces that boost stock prices, sending the S&P 500 to more than 40 records. Now, though, investors are preparing for life...

Turkish lira at new lows after Erdogan fires bank officials

Oct. 14, 2021 06:28 AM EDT

ANKARA, Turkey (AP) — The Turkish lira hit record lows against the dollar Thursday after President Recep Tayyip Erdogan fired senior central bank officials, heightening concerns over the Turkish leader’s interference in the bank’s activities. Erdogan dismissed...

Asian shares rise as Wall Street tech gain boosts optimism

Oct. 14, 2021 00:08 AM EDT

TOKYO (AP) — Asian shares were mostly higher on Thursday, tracking an overnight rally on Wall Street as investors sought out bargains, including technology stocks. Benchmarks rose in Tokyo, Seoul and Sydney in morning trading. Markets in Hong Kong were closed for a...

Biden tries to tame inflation by having LA port open 24/7

Oct. 13, 2021 22:33 PM EDT

WASHINGTON (AP) — President Joe Biden tried to reassure Americans on Wednesday that he can tame high inflation, announcing a deal to expand operations at the Port of Los Angeles as prices keep climbing and container ships wait to dock in a traffic jam threatening the U.S. economy and...