Latest Inflation News

Stock market today: Wall Street opens slighlty higher but is still heading for a losing week

May. 24, 2024 09:41 AM EDT

NEW YORK (AP) — Stocks are opening modestly higher following Wall Street’s worst day since April. The S&P 500 was up 0.3% in early trading Friday, but it may still be heading for its first losing week in the last five. The Dow Jones Industrial Average was up 101 points, and the Nasdaq...

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. ...

Target sales decline to start the year, but it sees improvement

May. 22, 2024 10:07 AM EDT

NEW YORK (AP) — Target on Wednesday posted a decline in quarterly revenue as still higher prices on essentials cut into shopper spending. The Minneapolis retailer also delivered profit results that were below analyst expectations and issued a muted profit outlook. It posted its...

How is the violent unrest in New Caledonia impacting global nickel prices?

May. 22, 2024 06:57 AM EDT

JAKARTA, Indonesia (AP) — Global nickel prices have soared since deadly violence erupted in the French Pacific territory of New Caledonia last week. The overseas territory, which has been under French rule for over 170 years, is a major global producer of the critical material...

Stock market today: Asian shares mostly higher after Wall Street sets more records

May. 22, 2024 00:04 AM EDT

HONG KONG (AP) — Asian markets were mixed in cautious trading on Wednesday, with most of the regions’ benchmarks climbing after U.S. stocks hit new record highs. U.S. futures rose while oil prices slipped. Tokyo’s Nikkei 225 fell 0.6% to 38,719.35 after Japan...