Latest Inflation News

Stocks end mostly lower, extending losing streak for S&P 500

May. 16, 2022 16:38 PM EDT

NEW YORK (AP) — Stocks closed a wobbly day of trading mostly lower on Wall Street Monday, extending a losing streak for markets. The broader market is in the midst of a slump as investors try to gauge how companies and consumers are dealing with higher prices and whether central...

A Bezos-Biden squabble: Can corporate taxes tame inflation?

May. 16, 2022 16:05 PM EDT

WASHINGTON (AP) — Jeff Bezos this weekend became the latest centibillionaire to launch a political fight on Twitter by denouncing a tweet from President Joe Biden about corporate taxes as “disinformation” and "misdirection." The White House quickly retorted Monday that Bezos...

Bank of England governor rejects criticism on inflation

May. 16, 2022 15:09 PM EDT

LONDON (AP) — Bank of England Gov. Andrew Bailey on Monday rejected criticism that the institution didn’t move quickly enough to quash inflationary pressures, telling a parliamentary committee that monetary policymakers weren’t able to predict wars. Bailey has come under sharp...

EU cuts forecast for economic growth as war's fallout widens

May. 16, 2022 09:53 AM EDT

BRUSSELS (AP) — The European Union has slashed its forecasts for economic growth in the 27-nation bloc amid the prospect of a drawn-out Russian war in Ukraine and disruptions to energy supplies. The EU’s gross domestic product will expand 2.7% this year and 2.3% in 2023, the...

GOP's new midterm attack: Blaming Biden for formula shortage

May. 14, 2022 00:32 AM EDT

AUSTIN, Texas (AP) — Republicans aiming to retake control of Congress have already sharpened a message centering around blaming Democrats for high inflation, expensive gas, migrants crossing the U.S.-Mexico border and violent crime in some cities. But GOP leaders landed on an...

Stocks rally, but still mark their 6th straight losing week

May. 13, 2022 17:12 PM EDT

NEW YORK (AP) — Wall Street closed out another volatile week of trading with a broad rally Friday, though it wasn't nearly enough to keep the market from its sixth straight weekly drop, the longest such streak since 2011. The S&P 500 climbed 2.4%. More than 90% of the companies...

Bitcoin tumbles, a stablecoin plunges in wild week in crypto

May. 13, 2022 17:00 PM EDT

NEW YORK (AP) — It’s been a wild week in crypto, even by crypto standards. Bitcoin tumbled, stablecoins were anything but stable and one of the crypto industry's highest-profile companies lost a third of its market value. Here's a look at some major developments in...

Pricey tortillas: LatAm's poor struggle to afford staples

May. 13, 2022 15:03 PM EDT

MEXICO CITY (AP) — No item is more essential to Mexican dinner tables than the corn tortilla. But the burst of inflation that is engulfing Latin America and the rest of the world means that people like Alicia García, a cleaner at a restaurant in Mexico City, have had to cut back. ...

Spain, Portugal sign off on plans to temper energy prices

May. 13, 2022 12:22 PM EDT

MADRID (AP) — Spain and Portugal on Friday signed off on a temporary cap on natural gas prices, in a coordinated move described by Portugal’s environment minister as an “unprecedented” bid to temper soaring energy prices and inflation. As energy prices surge across Europe,...

Asian shares bounce back, shrugging off inflation concerns

May. 13, 2022 01:06 AM EDT

Asian shares bounced back Friday from losses earlier in the week, shrugging off data showing U.S. wholesale prices soared 11% in April from a year earlier. The regional rally followed a mixed and muted close on Wall Street. Oil prices and U.S. futures also were higher. ...