Latest Inflation News

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...

Ex-Fed chair Ben Bernanke finds 'significant shortcomings' in Bank of England's economic forecasting

Apr. 12, 2024 08:38 AM EDT

LONDON (AP) — A review of the Bank of England's economic forecasting that was published Friday and undertaken by Ben Bernanke, the former chair of the U.S. Federal Reserve, has found “significant shortcomings” that should be addressed to better inform future interest rate decisions. ...

China's exports tumble 7.5% in March and imports also fall as demand slows

Apr. 12, 2024 07:41 AM EDT

HONG KONG (AP) — China’s exports contracted in March after growing in the first two months of the year, underscoring the uneven nature of the country's recovery from the pandemic. Customs data released Friday show exports declined 7.5% in March from a year earlier, while imports...

Stock market today: Asia stocks are mostly lower after Wall St rebound led by Big Tech

Apr. 12, 2024 00:36 AM EDT

HONG KONG (AP) — Asia stocks were mostly lower on Friday after gains for Big Tech shares helped U.S. stock indexes claw back much of their slide from the day before. U.S. futures and oil prices were higher. In Tokyo, the Nikkei 225 index was up 0.4% at 39,609.60,...

Average long-term US mortgage rate edges closer to 7%, rising to highest level since early March

Apr. 11, 2024 16:31 PM EDT

LOS ANGELES (AP) — The average long-term U.S. mortgage rate rose to its highest level in five weeks, a setback for prospective homebuyers during what's traditionally the busiest time of the year for home sales. The average rate on a 30-year mortgage rose to 6.88% from 6.82% last...

As world's central banks wrestle with when to cut rates, Europe signals it's ready to move

Apr. 11, 2024 11:11 AM EDT

FRANKFURT, Germany (AP) — The European Central Bank signalled Thursday it could cut interest rates at its next meeting in June, a big step as the rich world's central banks, including the U.S. Federal Reserve, wrestle with how soon declining inflation will let them lower credit costs for business...

US producer prices rose 2.1% from last year, most since April, but less than forecasters expected

Apr. 11, 2024 09:20 AM EDT

WASHINGTON (AP) — U.S. producer prices rose rose in March from a year earlier at the fastest pace in nearly a year, but the gain was less than economists expected. And wholesale inflation eased on a month to month basis. The Labor Department said Thursday that its producer price...

No inflation here: Affordable Masters' menu still includes $1.50 pimento cheese sandwiches

Apr. 11, 2024 09:38 AM EDT

AUGUSTA, Ga. (AP) — Jordan Janes knew when he arrived at the Masters for the first time a pimento cheese sandwich was a must-have. He wanted to soak in the Augusta National experience, and that has long included the iconic staple on the affordable Masters menu. And...