Latest Inflation News

UK inflation falls to lowest level since late 2021 as food prices ease further

Apr. 17, 2024 03:17 AM EDT

LONDON (AP) — Inflation in the U.K. fell to its lowest level in two and a half years in March after a further easing in food prices, official figures showed Wednesday, a development which could further pave the way for a welcome cut in interest rates soon. Consumer prices rose by...

Stock market today: Asian benchmarks trade mixed amid expectations for US rates to stay high

Apr. 16, 2024 22:21 PM EDT

TOKYO (AP) — Asian shares were trading mixed Wednesday, as expectations resurfaced that U.S. interest rates may stay high for a while. Japan's benchmark Nikkei 225 dipped 0.6% in morning trading to 38,226.39. Australia's S&P/ASX 200 edged up 0.2% to 7,624.70. South Korea's...

Fed's Powell: Elevated inflation will likely delay rate cuts this year

Apr. 16, 2024 15:39 PM EDT

WASHINGTON (AP) — Federal Reserve Chair Jerome Powell cautioned Tuesday that persistently elevated inflation will likely delay any Fed interest rate cuts until later this year, opening the door to a period of higher-for-longer rates. “Recent data have clearly not given us...

IMF: Outlook for world economy is brighter, though still modest by historical standards

Apr. 16, 2024 12:21 PM EDT

WASHINGTON (AP) — The International Monetary Fund has upgraded its outlook for the global economy this year, saying the world appears headed for a “soft landing” — reining in inflation without much economic pain and producing steady if modest growth. The IMF now envisions...

A top Federal Reserve official opens door to keeping rates high for longer

Apr. 16, 2024 10:43 AM EDT

WASHINGTON (AP) — Federal Reserve Vice Chair Philip Jefferson suggested Tuesday that the central bank's key rate may have to remain at its peak for a while to bring down persistently elevated inflation. In a speech, Jefferson said he expects inflation to continue to slow this...

Retail sales surge 0.7% in March as Americans seem unfazed by higher prices with jobs plentiful

Apr. 15, 2024 10:24 AM EDT

NEW YORK (AP) — Americans boosted spending at a hotter-than-expected pace in March, underscoring how shoppers remain resilient despite inflationary pressures and other economic challenges. Retail sales rose 0.7% last month — almost double what economists had forecast — after...

Global smartphone shipments climb nearly 8% in 1st quarter as Samsung retakes the lead

Apr. 15, 2024 09:22 AM EDT

Global smartphone shipments rose nearly 8% in the first quarter, according to preliminary data from International Data Corp. It's the third straight quarter of shipment growth and marks the return of Samsung to No. 1. There were 289.4 million units shipped in the period, according to...

Stock market today: Wall Street falls sharply to close out its worst week since October

Apr. 12, 2024 16:39 PM EDT

NEW YORK (AP) — U.S. stocks tumbled Friday following a mixed start to earnings reporting season. Worries about potentially escalating tensions in the Middle East rattled financial markets, pushing investors to look for safer places for their money. The S&P 500 sank 1.5% to...

Big banks warn of uncertain year ahead after mixed financial performances in the first quarter

Apr. 12, 2024 12:24 PM EDT

NEW YORK (AP) — Big banks warned of an “uncertain” year ahead after mixed financial results during the first quarter in an environment of stubbornly high inflation and geopolitical clashes in Europe, the Middle East and elsewhere. JPMorgan reported a modest 6% rise in profits...

US consumer sentiment falls slightly as outlook for inflation worsens

Apr. 12, 2024 11:10 AM EDT

WASHINGTON (AP) — Consumer sentiment about the U.S. economy has ticked down but remains near a recent high, with Americans' outlook largely unchanged this year. The University of Michigan’s consumer sentiment index, released Friday in a preliminary version, slipped to 77.9 this...