US inflation jumped 7.5% in the past year, a 40-year high
2 years, 10 months ago

US inflation jumped 7.5% in the past year, a 40-year high

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy Inflation soared over the past year at its highest rate in four decades, hammering America’s consumers, wiping out pay raises and reinforcing the Federal Reserve’s decision to begin raising borrowing rates across the economy. The Labor Department said Thursday that consumer prices jumped 7.5% last month compared with 12 months earlier, the steepest year-over-year increase since February 1982. “More small business owners started the new year raising prices in an attempt to pass on higher inventory, supplies and labor costs,” said Bill Dunkelberg, the NFIB’s chief economist. “In addition to inflation issues, owners are also raising compensation at record-high rates to attract qualified employees to their open positions.” Those pay gains could eventually force additional price hikes as companies seek to cover the costs of the higher wages.

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History of this topic

U.S. consumer spending rises in November; monthly inflation subsides
3 days, 3 hours ago

U.S. consumer spending rises in November; monthly inflation subsides

The Hindu  

U.S. consumer spending increased in November, underscoring the economy's enduring strength, which prompted the Federal Reserve this week to project fewer interest rate cuts in 2025 than it had three months ago. Consumer spending, which accounts for more than two-thirds of U.S. economic activity, rose 0.4% last month after a downwardly revised 0.3% gain in October, the Commerce Department's Bureau …

U.S. economy grows at 3.1% pace in third quarter, an upgrade from previous estimate
5 days, 6 hours ago

U.S. economy grows at 3.1% pace in third quarter, an upgrade from previous estimate

Associated Press  

WASHINGTON — The American economy grew at a healthy 3.1% annual clip from July through September, propelled by vigorous consumer spending and an uptick in exports, the government said in an upgrade to its previous estimate. Third-quarter growth in U.S. gross domestic product — the economy’s output of goods and services — accelerated from the April-July rate of 3% and …

Where inflation accelerated in November – and where it eased
6 days, 6 hours ago

Where inflation accelerated in November – and where it eased

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Some products swung the other way last month, from …

U.K. Inflation rises further above Bank of England's target in November
6 days, 11 hours ago

U.K. Inflation rises further above Bank of England's target in November

The Hindu  

Inflation in the U.K. has risen to its highest level since March, driven by an increase in fuel prices last month, official figures showed on Wednesday. Rate-setters had anticipated a pick-up in inflation when the central bank last cut rates in early November as price pressures eased earlier in the year — in September, inflation had fallen to its lowest …

UK inflation increase solidifies expectations interest rates will be kept on hold
6 days, 12 hours ago

UK inflation increase solidifies expectations interest rates will be kept on hold

Associated Press  

LONDON — Inflation in the U.K. rose to its highest level in eight months during November, official figures showed Wednesday, a development that has cemented market expectations that the Bank of England will opt against cutting borrowing costs this week. It said stubbornly high inflation in the crucial services sector, which accounts for around 80% of the U.K. economy, and …

US wholesale inflation accelerated in November in sign that some price pressures remain elevated
1 week, 5 days ago

US wholesale inflation accelerated in November in sign that some price pressures remain elevated

Associated Press  

WASHINGTON — Wholesale costs in the United States picked up sharply last month, signaling that price pressures are still evident in the economy even though inflation has tumbled from the peak levels it hit more than two years ago. The Labor Department reported Thursday that its producer price index — which tracks inflation before it reaches consumers — rose 0.4% …

Retail inflation slows slightly at 5.48%
1 week, 5 days ago

Retail inflation slows slightly at 5.48%

Hindustan Times  

Retail inflation rose to 5.48% last month, a slower pace of increase compared to 6.21% in October, data from the Ministry of Statistics and Programme Implementation showed on Thursday. Despite the slowing pace of growth in prices, the Consumer Price Index-based rate of retail inflation stayed above the Reserve Bank of India’s 4% tolerance level, with two percentage points of …

US wholesale inflation surged higher in November
Trending News
1 week, 5 days ago

US wholesale inflation surged higher in November

CNN  

CNN — US wholesale inflation shot higher last month, an unwelcome sign that some prices could be heating up before they come down the pike to consumers. A closely watched gauge of underlying wholesale inflation grew more modestly and a chunk of November’s increase could be attributed to a spike in egg prices as a deadly bird flu ripples through …

New inflation numbers threaten Trump and GOP's plans for tax cuts and tariffs: report
1 week, 5 days ago

New inflation numbers threaten Trump and GOP's plans for tax cuts and tariffs: report

Raw Story  

New Labor Department data released Wednesday showed stubborn inflation continued, which could make it difficult for President-elect Donald Trump and his GOP allies to pass certain legislation they've planned. While the consumer price index increased 2.7 percent in November from 2023, it was also larger than September's 2.4 percent rise, The Washington Post reported. "While Trump criticized President Joe Biden’s …

US inflation rose for second straight month: What are the challenges for Trump now?
1 week, 6 days ago

US inflation rose for second straight month: What are the challenges for Trump now?

Firstpost  

President-elect Donald Trump has made tackling inflation and reducing the cost of living a cornerstone of his campaign. However, the recent uptick in inflation suggests the road ahead may be more complex than anticipated Inflation in the United States ticked up for the second consecutive month in November. The consumer price index, a key measure of inflation, rose to 2.7 …

US inflation rises 2.7% YoY in November, logs highest gain in seven months; Wall Street awaits US Fed verdict
1 week, 6 days ago

US inflation rises 2.7% YoY in November, logs highest gain in seven months; Wall Street awaits US Fed verdict

Live Mint  

US Inflation Report November 2024: US inflation accelerated for a second straight month in November 2024, reporting the steepest gain in the last seven months amid higher food prices and other sectors. US Inflation Report November 2024: Key Metrics The CPI rose 0.3 per cent last month, the largest gain since April after advancing 0.2 per cent for four straight …

US inflation ticked up last month as some price pressures remain persistent
Trending News
1 week, 6 days ago

US inflation ticked up last month as some price pressures remain persistent

Associated Press  

WASHINGTON — Fueled by pricier used cars, hotel rooms and groceries, inflation in the United States moved slightly higher last month in the latest sign that some price pressures remain elevated. Though inflation is now way below its peak of 9.1% in June 2022, average prices are still about 20% higher than they were three years ago — a major …

Inflation heated up last month as consumer prices rose 2.7%, underscoring the slog ahead
1 week, 6 days ago

Inflation heated up last month as consumer prices rose 2.7%, underscoring the slog ahead

CNN  

CNN — Inflation heated back up again in November, but it likely wasn’t bad enough to keep the Federal Reserve from cutting rates next week. “We have some PTSD around egg prices from the pandemic and certainly lingering avian flu outbreaks; but those prices being up almost 40% year over year certainly is another thing people will look at in …

Rising costs of used cars and groceries push US inflation higher in November
1 week, 6 days ago

Rising costs of used cars and groceries push US inflation higher in November

India Today  

WASHINGTON: Fueled by pricier used cars, hotel rooms and groceries, inflation in the United States moved slightly higher last month in the latest sign that some price pressures remain elevated. Though inflation is now way below its peak of 9.1% in June 2022, average prices are still about 20% higher than they were three years ago — a major source …

U.S. inflation ticked up last month as some price pressures persist
1 week, 6 days ago

U.S. inflation ticked up last month as some price pressures persist

LA Times  

Fueled by pricier used cars, hotel rooms and groceries, inflation in the United States moved slightly higher last month in the latest sign that some price pressures remain elevated. Though inflation is now way below its peak of 9.1% in June 2022, average prices are still about 20% higher than they were three years ago — a major source of …

US Economy Expands 2.8% In Q3, Driven By Strong Consumer Spending
3 weeks, 5 days ago

US Economy Expands 2.8% In Q3, Driven By Strong Consumer Spending

ABP News  

The US economy grew at a robust annual rate of 2.8 per cent from July to September, driven by solid consumer spending and a surge in exports, the government reported on Wednesday. Consumer spending, which drives about 70 per cent of US economic activity, accelerated to a 3.5 per cent annual rate in the third quarter, up from 2.8 per …

US consumer price increases accelerated last month with inflation pressures resilient
3 weeks, 6 days ago

US consumer price increases accelerated last month with inflation pressures resilient

Associated Press  

WASHINGTON — Consumer price increases accelerated last month, the latest sign that inflation’s steady decline over the past two years has stalled in recent months. According to the Federal Reserve’s preferred inflation gauge, consumer prices rose 2.3% in October from a year earlier, the Commerce Department said Wednesday. Yet excluding the volatile food and energy categories, so-called “core” prices also …

Soft landing? Not so fast: Inflation heated back up in October
3 weeks, 6 days ago

Soft landing? Not so fast: Inflation heated back up in October

CNN  

CNN — The Federal Reserve’s favored inflation gauge just moved in the wrong direction. “The big picture is inflation is still a risk; that hasn’t changed,” Elizabeth Renter, senior economist at NerdWallet, told CNN in an interview. “The disinflationary trend that we saw earlier this year has effectively stalled as we head into what’s likely going to be a bumpy …

US wholesale inflation picks up slightly in sign that some price pressures remain elevated
1 month, 1 week ago

US wholesale inflation picks up slightly in sign that some price pressures remain elevated

Associated Press  

WASHINGTON — Wholesale prices in the United States rose last month, remaining low but suggesting that the American economy has yet to completely vanquish inflationary pressure. Thursday’s report from the Labor Department showed that its producer price index — which tracks inflation before it hits consumers — rose 0.2% from September to October, up from a 0.1% gain the month …

US Dollar rises to near 7-month high as inflation data hints Fed’s rate cuts strategy
1 month, 1 week ago

US Dollar rises to near 7-month high as inflation data hints Fed’s rate cuts strategy

Live Mint  

The United States dollar rose to nearly a seven-month high against major currencies on Wednesday, November 13, after the U.S. inflation data for October showed an increase, in line with market expectations and hinted that the Federal Reserve would keep cutting rates, reported the news agency Reuters. The US dollar rose to its highest level since April 16, fueled by …

US inflation stays firm for third month with 0.3 percent core CPI gain
1 month, 1 week ago

US inflation stays firm for third month with 0.3 percent core CPI gain

Hindustan Times  

A measure of underlying US inflation remained firm in October, underscoring the ongoing risks Federal Reserve officials face in trying to bring price pressures fully under control. The US central bank will also have to contend with a new set of policies under President-elect Donald Trump, with companies already considering raising prices in anticipation of the higher tariffs he’s promised …

US inflation may have picked up in October after months of easing
Trending News
1 month, 1 week ago

US inflation may have picked up in October after months of easing

Associated Press  

WASHINGTON — Annual inflation may have risen in October for the first time in seven months, a sign that price increases might be leveling off after steadily cooling for more than two years. From September to October, core prices are expected to have risen 0.3% for a third straight month — a pace that, if sustained, would exceed the Federal …

U.S. inflation rose slightly last month after 2 years of steady cooling but remained low
1 month, 1 week ago

U.S. inflation rose slightly last month after 2 years of steady cooling but remained low

LA Times  

Inflation in the United States ticked up in October, driven by costlier rents, used cars and air fares, a sign that price increases might be leveling off after having slowed in September to their lowest pace since 2021. Consumer inflation, which peaked at 9.1% in 2022, has since fallen steadily, though overall prices are still about 20% higher than they …

Fed up with high prices? Here's where things stand with inflation
1 month, 1 week ago

Fed up with high prices? Here's where things stand with inflation

NPR  

Fed up with high prices? Here's where things stand with inflation toggle caption Justin Sullivan/Getty Images By the numbers, inflation in America continues in the same direction: Easing largely — but still sticky. "We both make decent wages, but with the way that inflation has increased, it's like our dollar just doesn't go as far," says Spangler, who helps manage …

Inflation hit a bump in October after slowing for six straight months
1 month, 1 week ago

Inflation hit a bump in October after slowing for six straight months

CNN  

CNN — The annual rate of inflation moved higher last month for the first time since March, as expected — but economists say the underlying trend remains favorable for another round of interest rate cuts. Consumer prices rose 0.2% last month and were up 2.6% from the year before, according to the latest Consumer Price Index data released Wednesday by …

Grocery inflation rises as supermarket trips hit four-year high
1 month, 1 week ago

Grocery inflation rises as supermarket trips hit four-year high

The Independent  

Get the free Morning Headlines email for news from our reporters across the world Sign up to our free Morning Headlines email Sign up to our free Morning Headlines email SIGN UP I would like to be emailed about offers, events and updates from The Independent. Supermarket prices were 2.3% higher than a year ago last month, up slightly on …

America’s economy explains a lot about why Trump got reelected
1 month, 2 weeks ago

America’s economy explains a lot about why Trump got reelected

CNN  

CNN — Donald Trump’s decisive election victory was about many things: a global rejection of incumbents, a rise in the Republican electorate and a battle for the future of America’s democracy. Why the US economy stings so much Housing: America’s home prices have reached new record highs for 15 straight months. That’s a healthy pace by any measure, and it’s …

Inflation gauge closely watched by the Fed falls to lowest level since early 2021
1 month, 3 weeks ago

Inflation gauge closely watched by the Fed falls to lowest level since early 2021

LA Times  

As a presidential race profoundly shaped by Americans’ frustration with high prices nears its end, the government said Thursday that an inflation gauge closely watched by the Federal Reserve has dropped to near pre-pandemic levels. Inflation peaked at 7.1% in June 2022 after the economy had accelerated out of the pandemic recession at a time of severe shortages of parts …

Column: American economists and consumers got inflation wrong during its recent surge. They still do
2 months, 3 weeks ago

Column: American economists and consumers got inflation wrong during its recent surge. They still do

LA Times  

Sen. JD Vance tried to blame the $4 price of a dozen eggs on Kamala Harris in this campaign video. The “strong policy response” Powell referred to was the Fed’s raising of short-term interest rates 11 times, a total of 5.25 percentage points, from March 2022 through July 2023. In November 2021, however, Powell told Congress that it was “probably …

US inflation falls to 2.5% in August, reaches 3-year low as Federal Reserve set to cut interest rates
3 months, 1 week ago

US inflation falls to 2.5% in August, reaches 3-year low as Federal Reserve set to cut interest rates

Hindustan Times  

The post-pandemic spike in U.S. inflation eased further last month as year-over-year price increases reached a three-year low, clearing the way for the Federal Reserve to cut interest rates next week. Excluding volatile food and energy costs, so-called core prices rose 3.2% in August from a year ago, the same as in July. A key reason for last month's drop …

US inflation reaches a 3-year low as Federal Reserve prepares to cut interest rates
3 months, 1 week ago

US inflation reaches a 3-year low as Federal Reserve prepares to cut interest rates

Politico  

For months, cooling inflation has provided gradual relief to America’s consumers, who were stung by the price surges that erupted three years ago, particularly for food, gas, rent and other necessities. A key reason for last month’s drop in overall inflation was the third decline in gas prices in the past four months: Average gas prices fell 0.6% from July …

U.S. inflation reaches a 3-year low as Federal Reserve prepares to cut interest rates
3 months, 1 week ago

U.S. inflation reaches a 3-year low as Federal Reserve prepares to cut interest rates

LA Times  

Wednesday’s report from the Labor Department showed that consumer prices rose 2.5% in August from a year earlier, down from 2.9% in July. The post-pandemic spike in U.S. inflation eased further last month as year-over-year price increases reached a three-year low, clearing the way for the Federal Reserve to cut interest rates next week. Excluding volatile food and energy costs, …

U.S. shoppers sharply boosted spending at retailers in July despite higher prices
4 months, 1 week ago

U.S. shoppers sharply boosted spending at retailers in July despite higher prices

LA Times  

Americans stepped up their spending at retailers last month by the most in a year and a half, easing concerns that the economy might be weakening under the pressure of higher prices and elevated interest rates. The Commerce Department reported Thursday that retail sales jumped 1% from June to July, the biggest such increase since January 2023, after having declined …

U.S. inflation slowed again in July, clearing the way for the Fed to begin cutting rates
4 months, 1 week ago

U.S. inflation slowed again in July, clearing the way for the Fed to begin cutting rates

LA Times  

A sale sign is displayed on a store clothes rack. Wednesday’s report from the Labor Department showed that consumer prices rose just 0.2% from June to July after dropping slightly the previous month for the first time in four years. At a news conference last month, Powell said that cooler inflation data this spring had strengthened the Fed’s confidence that …

Something is happening to the US economy only seen once before
4 months, 4 weeks ago

Something is happening to the US economy only seen once before

Daily Mail  

The US economy accelerated last quarter, with consumers and businesses increasing their spending despite the continual pressure of high interest rates. GDP rose at an annual rate of 2.8 percent for the quarter from April through June 2024 The GDP report showed that businesses are continuing to invest and household spending remains strong. Alongside the growth of the economy, inflation …

US economic growth increased last quarter to a healthy 2.8% annual rate
4 months, 4 weeks ago

US economic growth increased last quarter to a healthy 2.8% annual rate

Associated Press  

WASHINGTON — The nation’s economy accelerated last quarter at a strong 2.8% annual pace, with consumers and businesses helping drive growth despite the pressure of continually high interest rates. The central bank’s favored inflation gauge rose at a 2.6% annual rate last quarter, down from 3.4% in the first quarter of the year. the Fed thinks that it’s getting close …

U.S. economic growth increased last quarter to a healthy 2.8% annual rate
4 months, 4 weeks ago

U.S. economic growth increased last quarter to a healthy 2.8% annual rate

LA Times  

Amazon employees in South Gate load packages on carts before putting them on trucks for delivery last week as part of the company’s Prime Day event. The nation’s economy accelerated last quarter at a strong 2.8% annual pace, with consumers and businesses helping drive growth despite the pressure of continually high interest rates. The central bank’s favored inflation gauge rose …

UK inflation stays at 2% despite surge in hotel prices
5 months, 1 week ago

UK inflation stays at 2% despite surge in hotel prices

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy Inflation in the UK held …

US wholesale inflation picked up in June in sign that some price pressures remain elevated
5 months, 1 week ago

US wholesale inflation picked up in June in sign that some price pressures remain elevated

Associated Press  

WASHINGTON — Wholesale prices in the United States rose by a larger-than-expected 2.6% last month from a year earlier, a sign that some inflation pressures remain high. The Labor Department said Friday that its producer price index — which tracks inflation before it reaches consumers — rose 0.2% from May to June after being unchanged the month before. The increase …

Food prices are no longer rising as much — but here's why it might not feel that way
5 months, 1 week ago

Food prices are no longer rising as much — but here's why it might not feel that way

NPR  

Food prices are no longer rising as much — but here's why it might not feel that way toggle caption Justin Sullivan/Getty Images North America Grocery prices are no longer climbing as much as they did in the last two years — but many Americans are still frustrated by what it costs to put food on the table. Here are …

Sticker shock: How the supermarket has become a potent symbol of inflation in America
5 months, 2 weeks ago

Sticker shock: How the supermarket has become a potent symbol of inflation in America

NPR  

Sticker shock: How the supermarket has become a potent symbol of inflation in America toggle caption Chase Castor for NPR For Ellie Currence, every trip to the grocery store brings a moment of sticker shock. "Everything is more expensive, which is a huge bummer because it's the essentials I need," says Currence, who lives in Belton, Mo., outside Kansas City. …

Cost of living and the rising price of political survival
5 months, 2 weeks ago

Cost of living and the rising price of political survival

New Indian Express  

Across the Atlantic Ocean in Canada, headed for polls next year, the ruling Liberals suffered a shock 590-vote defeat in a byelection for a traditionally conservative seat. In the US, which will vote in November, inflation is the top concern for over half the voters, followed by the economy, homelessness, federal debt, immigration, drug use and social security. A recent …

31%: The surge in food prices irking voters in the UK election
5 months, 3 weeks ago

31%: The surge in food prices irking voters in the UK election

Al Jazeera  

The cost of living is a key issue in an election expected to end 14 years of Conservative Party governance. While inflation has finally returned to the central bank’s target of 2 percent after hitting double-digit highs in 2022 and 2023, people are still paying much more for essentials, including food, than they were just a few years ago. Food …

Federal Reserve’s preferred inflation gauge shows price pressures easing further
5 months, 3 weeks ago

Federal Reserve’s preferred inflation gauge shows price pressures easing further

Associated Press  

WASHINGTON — A measure of prices that is closely tracked by the Federal Reserve suggests that inflation pressures in the U.S. economy are continuing to ease. Excluding volatile food and energy prices, so-called core inflation rose 0.1% from April to May, the smallest increase since the spring of 2020, when the pandemic erupted and shut down the economy. The presumptive …

US economic growth for last quarter is revised up slightly to a 1.4% annual rate
5 months, 3 weeks ago

US economic growth for last quarter is revised up slightly to a 1.4% annual rate

Associated Press  

WASHINGTON — The American economy expanded at a 1.4% annual pace from January through March, the slowest quarterly growth since spring 2022, the government said Thursday in a slight upgrade from its previous estimate. The Commerce Department had previously estimated that the gross domestic product — the economy’s total output of goods and services — advanced at a 1.3% rate …

US inflation eases to 3.3% in May, defying expectations for slight rise
6 months, 1 week ago

US inflation eases to 3.3% in May, defying expectations for slight rise

Hindustan Times  

Stock markets surged Wednesday after data showed US inflation slowed in May, raising hopes the Federal Reserve will cut interest rates later this year. "The cool inflation numbers should boost investor confidence for a Fed rate cut in the second half of 2024," said Bret Kenwell, US investment analyst at trading platform eToro. With inflation slowing and other recent data …

US inflation cooled in May in a sign that price pressures may be easing
6 months, 1 week ago

US inflation cooled in May in a sign that price pressures may be easing

Associated Press  

WASHINGTON — Inflation in the United States eased in May for a second straight month, a hopeful sign that an acceleration of prices that occurred early this year may have passed. Consumer prices excluding volatile food and energy costs — the closely watched “core” index — rose 0.2% from April to May, the government said Wednesday. Fed officials, who will …

Discounting is back in fashion, as Americans get tired of paying more
6 months, 3 weeks ago

Discounting is back in fashion, as Americans get tired of paying more

NPR  

Discounting is back in fashion, as Americans get tired of paying more toggle caption Scott Olson/Getty Images After two years of paying more for things, Americans are growing more cautious about how they spend their money and are forcing retailers to offer more discounts. “It’s a cautious consumer,” said CEO Todd Vasos, describing Dollar General's typical shopper. That newfound caution …

An inflation gauge closely tracked by the Federal Reserve rises at slowest pace this year
6 months, 3 weeks ago

An inflation gauge closely tracked by the Federal Reserve rises at slowest pace this year

LA Times  

A price gauge closely tracked by the Federal Reserve cooled slightly last month, a sign that inflation may be easing after running high in the first three months of this year. Inflation fell sharply in the second half of last year before sticking well above the Fed’s 2% target in the first few months of 2024. Friday’s report also showed …

US economic growth last quarter revised down from 1.6% to 1.3%, inflation cools
6 months, 3 weeks ago

US economic growth last quarter revised down from 1.6% to 1.3%, inflation cools

Hindustan Times  

The U.S. economy grew more slowly in the first quarter than previously estimated after downward revisions to consumer and equipment spending and a key measure of inflation ticked down, keeping the Federal Reserve on track to possibly begin cutting interest rates before the end of the year. Details of the report showed that consumer spending growth, revised down by 0.5 …

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