Latest Inflation News

Some Arizona customers to see monthly fees increase for rooftop solar, advocates criticize rate hike

Feb. 24, 2024 17:26 PM EST

PHOENIX (AP) — About 1.4 million customers in Arizona will be paying more for electricity now that regulators have approved a rate hike proposed by the state’s largest utility, and an extra fee for customers with rooftop solar systems is prompting more criticism. The average...

Stock market today: Wall Street clings to modest gains and marks another winning week

Feb. 23, 2024 16:40 PM EST

NEW YORK (AP) — Stocks clung to modest gains on Wall Street Friday, giving the market another record high and a winning week. The listless day for stocks capped off a mostly solid week of earnings where the technology sector once again powered the market higher. The sector has been...

Federal Reserve officials caution against cutting US interest rates too soon or too much

Feb. 22, 2024 19:48 PM EST

WASHINGTON (AP) — Several Federal Reserve policymakers warned Thursday against cutting U.S. interest rates too soon or by too much in the wake of recent data showing inflation stayed unexpectedly high in January. Their comments echoed the minutes from the Fed's last meeting in...

Average long-term US mortgage rose again this week to highest level since mid December

Feb. 22, 2024 12:26 PM EST

LOS ANGELES (AP) — The average long-term U.S. mortgage rate rose this week for the third time in as many weeks, driving up home loan borrowing costs in just as the spring homebuying season ramps up. The average rate on a 30-year mortgage rose to 6.90% from 6.77% last week, mortgage...

Turkish central bank keeps its key interest rate unchanged, pausing a series of hikes

Feb. 22, 2024 08:09 AM EST

ANKARA, Turkey (AP) — Turkey’s central bank left its key interest rate unchanged at 45% on Thursday, pausing a series of aggressive rate hikes aimed at taming high inflation. The central bank said it was keeping the benchmark one-week repo rate on hold, according to a statement....

Stock market today: Japan's benchmark briefly reaches all-time high after rally on Wall Street

Feb. 21, 2024 22:57 PM EST

BANGKOK (AP) — Japan’s Nikkei 225 share index surged briefly to an all-time high on Thursday, bypassing its previous record set in December 1989. By midday Thursday, the index was up 1.6% at 38,861.98 after earlier trading as high as 38,924.88. The Nikkei 225's previous record...

Federal Reserve minutes: Officials worried that progress on inflation could stall in coming months

Feb. 21, 2024 14:42 PM EST

WASHINGTON (AP) — Federal Reserve officials acknowledged at their most recent meeting in January that there had been “significant progress” in reducing U.S. inflation. But some of the policymakers expressed concern that strong growth in spending and hiring could disrupt that progress. ...

Robots and happy workers: Productivity surge helps explain US economy's surprising resilience

Feb. 21, 2024 07:47 AM EST

WASHINGTON (AP) — Trying to keep up with customer demand, Batesville Tool & Die began seeking 70 people to hire last year. It wasn't easy. Attracting factory workers to a community of 7,300 in the Indiana countryside was a tough sell, especially having to compete with big-name manufacturers...

Japan's exports surged nearly 12% in January in 2nd straight month of gains

Feb. 21, 2024 03:01 AM EST

TOKYO (AP) — Japan's exports surged a stronger than expected nearly 12% in January, helped by robust demand for vehicles, auto parts and machinery. That helped the nation’s trade deficit shrink to 1.76 trillion yen ($12 billion), or about half of what it was a year earlier. ...

Stock market today: Asian stocks mixed after Tech stocks pull Wall Street lower with focus on Nvidia

Feb. 20, 2024 23:06 PM EST

HONG KONG (AP) — Asian stocks were mixed Wednesday after technology stocks led Wall Street broadly lower on Tuesday, with investors waiting for chipmaker Nvidia's quarter earning report. The report, which will come out later in the day, will put stock markets in Hong Kong, China...