Latest Inflation News

Fitch ups Greece's rating to a notch below investment grade

Jan. 27, 2023 18:45 PM EST

NEW YORK (AP) — Credit ratings company Fitch has raised Greece’s credit rating to one notch below investment grade. In a report issued Friday, Fitch estimates that Greece's deficit will shrink to 1.8% of its gross domestic product in 2024 from an estimated 3.8% last year. ...

Wall Street adds more to its big January after strong week

Jan. 27, 2023 16:27 PM EST

NEW YORK (AP) — A strong week for Wall Street closed out with modest gains Friday, sending the stock market to its highest level since early December. The S&P 500 rose 0.2% to clinch its third winning week in the last four and was near its highest level since the summer,...

US inflation and consumer spending cooled in December

Jan. 27, 2023 11:32 AM EST

WASHINGTON (AP) — The Federal Reserve's preferred inflation gauge eased further in December, and consumer spending fell — the latest evidence that the Fed's series of interest rate hikes are slowing the economy. Friday’s report from the Commerce Department showed that prices...

An inflation gauge closely tracked by the Federal Reserve slowed in December, and consumer spending fell

Jan. 27, 2023 08:34 AM EST
WASHINGTON (AP) — An inflation gauge closely tracked by the Federal Reserve slowed in December, and consumer spending fell.

UK Treasury chief: Tax cuts must wait for inflation to fall

Jan. 27, 2023 08:05 AM EST

LONDON (AP) — Britain’s Treasury chief said Friday that taming inflation is more important than cutting taxes, resisting calls from some in the governing Conservative Party for immediate tax breaks for businesses and voters. At a speech in London, Chancellor of the Exchequer...

US home sellers get while the gettin's good

Jan. 26, 2023 12:15 PM EST

LOS ANGELES (AP) — Homeowners who held off on selling their home in 2022 as the housing market slowed missed out on a windfall and may have to settle for slimmer profits if they opt to sell this year. The sale of a median-priced U.S. home last year translated into a profit of...

Average long-term mortgage rate at lowest level in 4 months

Jan. 26, 2023 12:07 PM EST

The average long-term U.S. mortgage rate fell to its lowest level in more than four months, giving some relief to homebuyers faced with higher prices for just about everything, including homes. Mortgage buyer Freddie Mac reported Thursday that the average on the benchmark 30-year...

Walmart's Sam's Club to add 30 stores in next few years

Jan. 26, 2023 11:37 AM EST

NEW YORK (AP) — Walmart said Thursday it plans to open more than 30 Sam's Club locations in the next few years, marking the first expansion since 2017. The nation's largest retailer, based in Bentonville, Arkansas, plans to open the first Sam's Club location as part of the...

How will we know if the US economy is in a recession?

Jan. 26, 2023 09:49 AM EST

WASHINGTON (AP) — The second consecutive quarter of economic growth that the government reported Thursday underscored that the nation isn't in a recession despite high inflation and the Federal Reserve's fastest pace of interest rate hikes in four decades. Yet the U.S. economy is...

Fewer Americans file for jobless claims last week

Jan. 26, 2023 08:54 AM EST

WASHINGTON (AP) — Fewer Americans filed for unemployment benefits last week as the labor market remains tight, even as the Federal Reserve has tried to cool the economy and inflation by raising interest rates. Applications for jobless aid in the U.S. for the week ending Jan. 21...