Latest Inflation News
Cost of building a super-size Alabama prison rises to more than $1 billion
MONTGOMERY, Ala. (AP) — The cost of a new Alabama super-size prison now under construction rose to more than $1 billion, complicating the state's plans to build two of the behemoth facilities. The Alabama Corrections Institution Finance Authority approved a final price Tuesday of...
US government estimates economy grew last quarter at a 2.1% rate, unchanged from previous projection
WASHINGTON (AP) — The U.S. economy grew at a 2.1% annual pace from April through June, extending its sturdy performance in the face of higher interest rates, the government said Thursday, leaving its previous estimate unchanged. The second-quarter expansion of the nation's gross...
Stock market today: Wall Street yo-yos to a mixed close as oil and bond markets raise the pressure
NEW YORK (AP) — Wall Street yo-yoed to a mixed finish Wednesday after rising oil prices and bond yields cranked up the pressure even higher on the stock market. After taking several U-turns through the day, the S&P 500 inched up by 0.98, or less than 0.1%, to 4,274.51 and...
Rising poverty grips Argentina as runaway inflation takes its toll
BUENOS AIRES, Argentina (AP) — With tired faces, residents of a homeless shelter in Argentina’s capital pass through the main entrance and line up to receive a hot drink and a slice of cake for an afternoon snack. Places like the Bepo Ghezzi Social Inclusion Center in the Parque...
US consumer confidence tumbles in September as American anxiety about the future grows
WASHINGTON (AP) — The confidence of American consumers slipped this month, particularly about the future, as expectations persist that interest rates will remain elevated for an extended period. The Conference Board, a business research group, said Tuesday that its consumer...
Interest rates will stay high 'as long as necessary,' the European Central Bank's leader says
FRANKFURT, Germany (AP) — The head of the European Central Bank said Monday that interest rates will stay high enough to restrict business activity for “as long as necessary” to beat back inflation. Still, she sympathized with homeowners who have seen their mortgage payments jump. ...
Japan's Kishida unveils the gist of a new economic package as support for his government dwindles
TOKYO (AP) — Japanese Prime Minister Fumio Kishida on Monday unveiled the gist of his new economic package that focuses on wage increases and measures to soften the impact of rising prices. Support for his Cabinet has dwindled despite the latest reshuffle less than two weeks ago. ...
EU Commission blocks Booking's planned acquisition of flight booking provider Etraveli
BRUSSELS (AP) — The European Union's executive arm said Monday it is blocking leading U.S. online travel agency Booking from acquiring Sweden's flight booking provider Etraveli Group because it would have allowed it to increase its dominant position on the market on the continent. ...
Kimberly Palmer: 7 saving strategies you may not have tried yet
With the holiday shopping season just starting and prices of many consumer goods continuing to rise, saving money can seem impossible. But those financial pressures also make doing so even more important. “Saving is your margin,” says Eric Maldonado, a certified financial planner...
Oil prices have risen. That's making gas more expensive for US drivers and helping Russia's war
FRANKFURT, Germany (AP) — Oil prices have risen, meaning drivers are paying more for gasoline and truckers and farmers more for diesel. The increase also complicates the global fight against inflation and feeds Russia's war chest. That poses problems for politicians as well as the...
