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Inflation Report Is Better Than Expected

It cools off in October to 3.2%

(Newser) - The new inflation report is out, and it's likely to make the Federal Reserve pretty happy: It cooled down last month in a sign that the Fed's interest rate hikes are having the desired effect, per the AP .
  • Key numbers: Tuesday's report from the Labor Department showed

At 140%, Inflation Changes Clothes Shopping in Argentina

Secondhand markets boom: 'We simply can't buy new things'

(Newser) - With Argentina in its worst economic crisis in decades, shopping for clothes has become more complicated. "You can't just go to the mall and buy something you like as you did before," said Aylen Chiclana, 22, a student in Buenos Aires. "Today prices are unthinkable."...

'It Doesn't Make Sense to Me to Spend $100 on Candy'

Ahead of Halloween trick-or-treaters, inflation for gum, other sweet treats reaches double digits

(Newser) - Spooked by the high price of Halloween candy? There's not much relief in sight. For the second year in a row, US shoppers are seeing double-digit inflation in the candy aisle. Candy and gum prices are up an average of 13% this month compared to last October, more than...

Prices Continue to Rise More Than the Fed Wants

But in general, inflation continues its slow downward trend

(Newser) - The latest inflation report shows that prices are still rising faster than the Federal Reserve would like, though inflation generally remains on a slow and uneven downward trajectory:
  • Key numbers: Prices in the US increased 0.4% from August to September, down from a faster pace the previous month,

Wholesale Inflation Rose More Than Expected Last Month

Producer prices rose at the fastest rate since April

(Newser) - US wholesale prices rose last month at the fastest pace since April, suggesting that inflationary pressures remain despite a year and a half of higher interest rates, reports the AP . The Labor Department reported Wednesday that its producer price index—which measures inflation before it hits consumers by looking at...

Gas Prices Drive Latest Inflation Increase

Labor Dept.'s new report is a mixed bag, with signs of continued cooling in consumer prices

(Newser) - A spike in gas prices pushed up inflation in August, yet most other costs rose at a more modest pace, evidence that consumer price increases overall are still cooling. In a set of conflicting data on Wednesday, the Labor Department said the consumer price index rose 3.7% in August...

Yellen: Signs Point Away From Recession

Treasury secretary expresses confidence about economy

(Newser) - Polls show Americans are feeling a bit better about the US economy lately, per the Wall Street Journal , and that includes Treasury Secretary Janet Yellen. Asked if the nation will be able to head off a recession while keeping inflation under control, she told Bloomberg , "I think you'd...

Yearlong Streak of Inflation Decline Has Come to an End

Inflation in US ticked up by 0.2% from June, with consumer prices up 3.2% from a year earlier

(Newser) - Inflation in the United States rose in July after 12 straight months of declines, boosted by costlier housing. But excluding volatile food and energy prices, so-called core inflation rose just 0.2% from June, matching the smallest monthly increase in nearly two years, per the AP . The inflation figure the...

Fed Hikes Interest Rates to a 22-Year High

Quarter-point increase is 11th in 17 months

(Newser) - The expectation was that the Federal Reserve would lift its key interest rate for the 11th time in 17 months, and that's exactly what came to pass on Wednesday. The quarter-point hike brings the the Fed's short-term rate to roughly 5.3%, the highest level since 2001. As...

Finally, the Curves Flip on Paychecks, Inflation

After 2 years, wages hikes are finally rising faster than inflation

(Newser) - Generally speaking, Americans have been getting pay raises over the last two years—it just hasn't felt like it because prices were rising even more. Finally, however, wage increases have begun to outpace inflation, reports the Wall Street Journal . Average hourly wages, after being adjusted for inflation, rose 1....

June's Inflation Number Is a Welcome One

At 3%, it's lowest since March 2021

(Newser) - After two years of painfully high prices, inflation in the United States has reached its lowest point since March 2021—3% in June compared with 12 months earlier—a sign that the Federal Reserve's interest rate hikes have steadily slowed price increases across the economy, reports the AP . The...

Strong Jobs Numbers Put Dow in a Sour Mood

Job openings fall below 10M, but they remain historically high

(Newser) - US job openings slipped in May but remained at levels high enough to illustrate that the American labor market remains resilient in the face of sharply higher interest rates. Employers posted 9.8 million job vacancies, down from 10.3 million in April, the Labor Department said Thursday. But layoffs...

Swedish Economist Blames Inflation on Beyonce

Stockholm concerts created a small but noticeable uptick, he says

(Newser) - The start of Beyonce's world tour was an event so big in Sweden that it produced a bump in the inflation rate, according to Danske Bank's chief economist in the country. Michael Grahn says the star's two concerts in Stockholm last month added around 0.2 percentage...

Inflation Has Cooled. So Has This Social Security Estimate

Recipients may see 2024 cost-of-living adjustment of just 2.7%, down from this year's 8.7%

(Newser) - This year's Social Security cost-of-living adjustment, or COLA, was the highest in four decades, coming in at 8.7% to account for record inflation. Beneficiaries shouldn't expect quite such a boost for 2024. According to new government data, the annual inflation rate fell in May to its lowest...

New Inflation Numbers Likely to Ward Off Rate Hike

Prices continue to cool as Fed meets to assess policy

(Newser) - Consumer prices in the United States cooled last month, rising just 0.1% from April to May and extending the past year's steady easing of inflation. Still, inflation remains well above normal levels, and some measures of underlying price pressures remained high.
  • Annual slowdown: Measured year over year, inflation

10 US Cities Where Inflation Is Rising the Most

Sorry, Miami residents

(Newser) - Inflation isn't rising as fast as it was a year ago nationwide, but it remains near a historically high rate of 5%. Some areas of the country are feeling it more than others, and WalletHub crunched data related to the Consumer Price Index to determine the cities where inflation...

Wall Street Likes Latest News on Consumer Prices

4.9% inflation was a tad less than expected

(Newser) - Consumer prices in the United States rose again in April, and measures of underlying inflation stayed high, suggesting that rising costs could persist for months to come—but the annual increase came in a hair under what was expected, cheering investors. The major points:
  • Prices rose 0.4% from March

Inflation Comes in Lower Than Expected

Year-over-year rate in March was 5% after small bump in March

(Newser) - US consumer inflation eased in March, with less expensive gas and lower food prices providing some relief to households that have struggled under the weight of surging prices for nearly two years, per the AP .
  • Smaller than expected: The government said Wednesday that consumer prices rose just 0.1% from

Surprise OPEC Move May Complicate Fed's Strategy

Decision to limit output expected to raise gas prices, along with fears about inflation

(Newser) - Oil prices soared nearly 6% on Monday after Saudi Arabia and other major oil producers said they will cut production by 1.15 million barrels per day from May until the end of the year, per the AP . The move by members of the so-called OPEC+ group of oil exporting...

Amid Yearlong Price Pressures, an 'Encouraging Sign'

Federal Reserve's favored inflation gauge slowed sharply last month

(Newser) - The Federal Reserve's favored inflation gauge slowed sharply last month, an encouraging sign in the Fed's yearlong effort to cool price pressures through steadily higher interest rates. Friday's report from the Commerce Department showed that consumer prices rose 0.3% from January to February, down from a...

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