Inflation cools slightly to 8.3 percent
Inflation cooled off slightly in April as the pace of both yearly and monthly price growth dropped, according to data released Wednesday by the Labor...
Diesel fuel is in short supply as prices surge — Here’s what that means for inflation
Diesel prices are surging, contributing to inflationary headwinds due to the fuel’s vital role in the American and global economy. Tankers, trains, trucks and planes...
U.S. gasoline prices soar to highest since 2008 on Russia conflict -AAA
Author of the article: U.S. gasoline prices jumped 11% over the past week to the highest since 2008 as global sanctions cripple Russia’s ability to export crude oil after its invasion of Ukraine, automobile club AAA said on Sunday. AAA said average U.S. regular grade gasoline prices hit $4.009 per gallon on Sunday, up 11%…
US consumer prices soared 7% in past year, most since 1982
WASHINGTON (AP) — Inflation jumped at its fastest pace in nearly 40 years last month, a 7 percent spike from a year earlier that is pushing up household expenses, eating into wage gains and heaping pressure on President Joe Biden and the Federal Reserve to address a growing threat to the U.S. economy.Prices have risen…
Consumer prices rose by 6.8 percent in November, as inflation hits highest pace since 1982
Consumer prices rose by 6.8 percent in November over the previous year, the highest annual inflation rate since June 1982, according to the latest Consumer Price Index data from the Bureau of Labor Statistics, released Friday.The figure exceeds the 6.2 percent year-over-year figure from October.Volatile energy prices, supply chain snarls, high consumer demand, and loose…
Fed’s Powell sees growing risk of ‘persistent’ higher inflation
Posted November 30, 2021 at 3:22pmFederal Reserve Chair Jerome Powell said Tuesday that the risk of “more persistent” higher inflation has grown as a spike in prices driven by pandemic-related supply and demand mismatches spreads across the economy.Powell fielded questions about inflation from both Democrats and Republicans at a Senate Banking hearing. He appeared alongside Treasury…
Consumer prices rise 0.9 percent in October, 6.2 percent in past year
Consumer prices grew far faster than expected in October, according to data released Wednesday by the Labor Department. The consumer price index (CPI), which tracks...
Biden talks to Walmart, UPS, Target, other CEOs on supply issues
Author of the article: WASHINGTON — President Joe Biden spoke on Tuesday with the chief executives at Walmart Inc, United Parcel Service Inc, FedEx Corp and Target Corp to discuss speeding up deliveries and lowering prices for consumers, according to a White House official. “During the conversations, President Biden received updates from these private-sector leaders…
IMF chief sees risk of sustained rise in U.S. inflation
International Monetary Fund (IMF) Managing Director Kristalina Georgieva makes remarks at an opening news conference during the IMF and World Bank’s 2019 Annual Fall Meetings of finance ministers and bank governors, in Washington, U.S., October 17, 2019. REUTERS/Mike TheilerWASHINGTON, July 7 (Reuters) – The International Monetary Fund on Wednesday said further fiscal support in the…