Latest Inflation News

Wall Street climbs to add more to its strong January

Jan. 31, 2023 16:34 PM EST

NEW YORK (AP) — Wall Street closed out a strong January with more gains on Tuesday, ahead of what many investors hope will be one of the Federal Reserve’s last hikes to interest rates for a while. Markets got a boost after a report showed that that growth for workers’ pay and...

How major US stock indexes fared Tuesday 1/31/2023

Jan. 31, 2023 16:28 PM EST

Wall Street closed out a strong January with more gains. The S&P 500 rose 1.5% Tuesday, marking its third winning month in the last four. The Dow rose 1.1% and the Nasdaq rose 1.7%. The gains came ahead of what many investors hope will be one of the Federal Reserve’s last hikes to interest...

Mexico's growth slows to 0.4% in 4Q, 3.6% in 2022

Jan. 31, 2023 11:20 AM EST

MEXICO CITY (AP) — Mexico’s economy slowed in the last quarter of 2022 but still managed to advance by 0.4%, bringing economic expansion for the full year to 3.6%, the National Statistics Institute announced Tuesday. The country’s gross domestic product had expanded by 0.9% in...

US consumer confidence lags as 2023 gets under way

Jan. 31, 2023 10:35 AM EST

American consumers are kicking off 2023 a bit less confident than they were at the end of last year as inflation and the possibility of a recession loom. The Conference Board reported Tuesday that its consumer confidence index slipped to a still-optimistic 107.1 in January, down from...

US wage growth slowed in the final quarter of 2022

Jan. 31, 2023 09:52 AM EST

WASHINGTON (AP) — Pay and benefits for America's workers grew at a healthy but more gradual pace in the final three months of 2022, a third straight slowdown, which could help reassure the Federal Reserve that wage gains won't fuel higher inflation. Wages and benefits, such as...

Europe scrapes out economic growth by dodging gas disaster

Jan. 31, 2023 09:03 AM EST

FRANKFURT, Germany (AP) — Europe’s economy scraped out meager gains at the end of last year as galloping inflation fed by high energy prices and Russia’s invasion of Ukraine deterred people from spending in shops and restaurants. Economic output crept 0.1% higher in the last...

Asian shares fall in muted trading ahead of Fed meeting

Jan. 30, 2023 23:05 PM EST

TOKYO (AP) — Asian shares mostly fell in muted trading Tuesday as investors awaited decisions on interest rates and earnings reports from around the world. Traders were awaiting the U.S. Federal Reserve’s decision on interest rates, expected on Wednesday. They are also watching...

IMF upgrades outlook for the global economy in 2023

Jan. 30, 2023 22:39 PM EST

WASHINGTON (AP) — The outlook for the global economy is growing slightly brighter as China eases its zero-COVID policies and the world shows surprising resilience in the face of high inflation, elevated interest rates and Russia's ongoing war against Ukraine. That's the view of the...

This Week: Fed rates, Alphabet earnings, employment update

Jan. 30, 2023 13:31 PM EST

A look at some of the key business events and economic indicators upcoming this week: WATCHING THE FED The Federal Reserve will meet this week and announce its latest interest rate decision on Wednesday. The central bank is expected to raise its...

Egypt Central Bank: Pound slips to new low against dollar

Jan. 30, 2023 11:17 AM EST

CAIRO (AP) — The Egyptian pound dipped to a new low Monday of just over 30 for $1, as the cash-strapped North African country continues to battle surging inflation and foreign currency shortages, authorities said. The landmark slide in Egypt's Central Bank selling rate is the...