‘Uncharted territory’: Five key takeaways on US inflation
2 years, 5 months ago

‘Uncharted territory’: Five key takeaways on US inflation

Al Jazeera  

What consumers feeling the pain of rising food and fuel prices need to know. “The size of the shocks that have buffeted the economy and the speed and suddenness with which things have changed has put us in a place where it’s very challenging from a monetary policy standpoint.” Following its meeting next week, the Fed is expected to raise interest rates by three-quarters of a point. “What’s really driving inflation higher is the cost of energy and food, and the Fed does not control those prices.” The US measures inflation in two ways: headline and core readings. “It’s not a question of if, it’s a question of when,” investment banker Essele said when asked whether a US recession is likely. Beware: If inflation sticks around too long, it can lead to a ‘vicious cycle’ of high prices If inflation hangs around too long, the US may be in it for the long haul, economists warned, because when businesses get used to operating in environments where higher inflation rates are more typical, they tend to price goods and services higher to make up for a forecasted uptick in production costs.

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History of this topic

New inflation numbers threaten Trump and GOP's plans for tax cuts and tariffs: report
1 week, 6 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 …

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 …

The Trump inflation shock could be worse than the last inflation crisis, Larry Summers warns
1 month, 1 week ago

The Trump inflation shock could be worse than the last inflation crisis, Larry Summers warns

CNN  

New York CNN — Larry Summers has some unsolicited advice for President-elect Donald Trump: Don’t keep your campaign promises — unless you want to send prices skyrocketing once again. “In his first term, President Trump instituted tariffs against China that created jobs, spurred investment, and resulted in no inflation,” Karoline Leavitt, a Trump transition spokesperson, said in a statement. “President …

Soaring inflation helped lead Trump to victory – here’s why some of his policies might drive prices higher again
1 month, 2 weeks ago

Soaring inflation helped lead Trump to victory – here’s why some of his policies might drive prices higher again

New Indian Express  

President-elect Donald Trump owes his political comeback in large part to voters’ concerns over the soaring price of everything from gasoline and housing to coffee and bagels. But in an ironic twist, some of Trump’s own policies – which he heavily promoted on the campaign trail – could send inflation soaring once more if enacted. Stagnant real wages Exit poll …

US Inflation Progress Gets Harder in Last Mile Down
1 month, 2 weeks ago

US Inflation Progress Gets Harder in Last Mile Down

Live Mint  

-- US inflation probably moved sideways at best in October, highlighting the uneven path of easing price pressures in the home stretch toward the Federal Reserve’s target. For full analysis, Even so, “the story is very consistent, with inflation continuing to come down on a bumpy path,” and one or two bad reports won’t change that pattern, Fed Chair Jerome …

Inflation versus wages: Trump’s stunning comeback explained in two charts
1 month, 2 weeks ago

Inflation versus wages: Trump’s stunning comeback explained in two charts

Al Jazeera  

The rise in prices under the Biden administration proved fatal to Kamala Harris’s election hopes. In exit polls, 45 percent of voters said they were worse off than four years ago, when President Joe Biden took office, versus just 24 percent who said their financial situation had improved. Voters who named inflation as their number one concern broke for Trump …

Top conservative economists warn of huge inflation after election – ESPECIALLY if Trump wins
1 month, 3 weeks ago

Top conservative economists warn of huge inflation after election – ESPECIALLY if Trump wins

Daily Mail  

Conservative-leaning economists are warning that Donald Trump's policies could trigger a new surge in inflation. Both Trump and Vice President Kamala Harris have put forward policies that they claim will keep inflation under control, while boosting growth for the US economy. Conservative-leaning economists are warning that Donald Trump's policies could cause a spike in inflation A second Trump term would …

Fox News host fact-checks Republican governor who claimed 35 percent inflation
4 months, 1 week ago

Fox News host fact-checks Republican governor who claimed 35 percent inflation

Raw Story  

Fox News host Neil Cavuto gave New Hampshire Gov. While discussing the increased costs of living, Sununu said voters won’t look at the economy's recent strength, but rather price hikes that have come over President Joe Biden’s term. “They are going to look at what's happened over the last 4 years – That’s where you are looking at 25, 30, …

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 …

Biden polls: Inflation is not the president’s problem.
6 months, 2 weeks ago

Biden polls: Inflation is not the president’s problem.

Slate  

In January of 1980, Jimmy Carter had been in office for three years, and the economy was terrible. Biden isn’t just clearing the low bar set by the Carter administration, he’s besting every other leader in the developed world, with the United States enjoying stronger wages, lower inflation, and better job growth than any nation in the G7, and its …

US inflation eased last month in the first slowdown of 2024
7 months, 1 week ago

US inflation eased last month in the first slowdown of 2024

Associated Press  

WASHINGTON — Led by lower food and auto prices, inflation in the United States cooled slightly last month after three elevated readings, likely offering a tentative sigh of relief for officials at the Federal Reserve as well as President Joe Biden’s re-election team. Instead, he stressed that the Fed’s policymakers need “greater confidence” that inflation is falling to their 2% …

Why beating inflation is turning out to be as hard as losing weight
8 months, 2 weeks ago

Why beating inflation is turning out to be as hard as losing weight

NPR  

Why beating inflation is turning out to be as hard as losing weight Enlarge this image toggle caption Scott Olson/Getty Images Scott Olson/Getty Images Beating inflation is starting to feel a lot like losing weight, at least before the Ozempic era: Losing the first pounds is generally easier — it's getting rid of the last ones that's proving hard. Enlarge …

Surprise rise in inflation to 3.2% driven by soaring gas prices - with fears cost to fill up a car will keep rising and hamper Biden's plan to cut inflation in election year
9 months, 1 week ago

Surprise rise in inflation to 3.2% driven by soaring gas prices - with fears cost to fill up a car will keep rising and hamper Biden's plan to cut inflation in election year

Daily Mail  

President Biden today welcomed new inflation data despite it showing costs have risen 3.2 percent in the last year. Pictured: during a speech at a YMCA March 11, 2024 Inflation rose slightly to 3.2 percent in February as prices were pushed up by housing costs and gas The inflation figure plays a big part in the whether the Federal Reserve …

What do rising gas prices mean for the future of US inflation? Here's what experts have to say
9 months, 1 week ago

What do rising gas prices mean for the future of US inflation? Here's what experts have to say

Hindustan Times  

A stubborn increase in gasoline prices would most likely have augmented inflation in the US to this level in February and even more so, which would favour the Fed's deliberation over adjusting the interest rate downwards. A 4% surge in February affects US inflation outlook The Fed members’ tune started changing for the better in January, when the publication of …

US consumer inflation falls to 3.1pc in January, but less than expected
10 months, 1 week ago

US consumer inflation falls to 3.1pc in January, but less than expected

Hindustan Times  

US consumer inflation cooled in January but at a slower rate than expected, resisting President Joe Biden's efforts to soothe families' cost of living concerns in an election year. U.S. President Joe Biden The closely watched Consumer Price Index rose 3.1 percent from a year ago last month, down from 3.4 percent in December, the Department of Labor said on …

US inflation slows but remains elevated in sign that price pressures are easing only gradually
10 months, 1 week ago

US inflation slows but remains elevated in sign that price pressures are easing only gradually

Associated Press  

WASHINGTON — Consumer inflation in the United States cooled last month yet remained elevated in the latest sign that the pandemic-fueled price surge is only gradually and fitfully coming under control. At his most recent news conference, Fed Chair Jerome Powell singled out persistently high services prices as a concern and indicated the central bank’s policymakers would like to see …

Inflation slows but remains elevated, a sign price pressures are easing only gradually
10 months, 1 week ago

Inflation slows but remains elevated, a sign price pressures are easing only gradually

LA Times  

U.S. consumer prices rose more than expected in January, further reducing the chances that Federal Reserve officials will start lowering interest rates soon. At his most recent news conference, Fed Chair Jerome H. Powell singled out persistently high services prices as a concern and indicated the central bank’s policymakers would like to see services inflation ease further before starting to …

Americans’ economic outlook brightens as inflation slows and wages outpace prices
11 months ago

Americans’ economic outlook brightens as inflation slows and wages outpace prices

Associated Press  

WASHINGTON — After an extended period of gloom, Americans are starting to feel better about inflation and the economy — a trend that could sustain consumer spending, fuel economic growth and potentially affect President Joe Biden’s political fortunes. A survey by the Federal Reserve Bank of New York found that Americans’ inflation expectations have reached their lowest point in nearly …

Americans' economic outlook brightens as inflation slows and wages outpace prices
11 months ago

Americans' economic outlook brightens as inflation slows and wages outpace 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 Please enter a valid email address Please enter a valid email address SIGN UP I would like to be emailed about offers, events and updates from The Independent. Please try again later {{ …

Americans’ economic outlook brightens as inflation slows and wages outpace prices
11 months ago

Americans’ economic outlook brightens as inflation slows and wages outpace prices

LA Times  

A customer checks prices while shopping at a grocery store last week in Wheeling, Ill. A typical basket of groceries now costs 20% more than in February 2021, just before inflation began to take off. After an extended period of gloom, Americans are starting to feel better about inflation and the economy — a trend that could sustain consumer spending, …

Slowing inflation suggests that Biden’s policies are helping, but American voters are still hurting
11 months, 1 week ago

Slowing inflation suggests that Biden’s policies are helping, but American voters are still hurting

Associated Press  

WASHINGTON — President Joe Biden can make an increasingly strong case that he’s helped fix inflation — if only he can get voters to believe him. Leading GOP lawmakers such as Rep. Jason Smith of Missouri, chairman of the House Ways and Means Committee, greeted the latest inflation numbers as evidence that voters are still suffering from high prices: “President …

What’s pushing inflation down? More goods, workers and housing
1 year, 1 month ago

What’s pushing inflation down? More goods, workers and housing

Associated Press  

WASHINGTON — Long past its painful peak, inflation in the United States may be heading steadily back toward its pre-pandemic levels, without the need for further interest rate hikes by the Federal Reserve. Overall inflation didn’t rise from September to October, the first time that consumer prices collectively haven’t budged from one month to another in more than a year. …

Inflation drops to 3% and Biden hopes to turn a weakness with voters into a strength
1 year, 5 months ago

Inflation drops to 3% and Biden hopes to turn a weakness with voters into a strength

Associated Press  

WASHINGTON — The politics of inflation took a sharp turn Wednesday with a report showing consumer prices rose at the slowest pace since the early months of Joe Biden’s presidency. “It is particularly notable and highly consistent with Bidenomics to see this steep a decline in the rate of inflation while employment remains so uniquely strong.” The president was quick …

US inflation eases but stays high, putting Fed in tough spot
1 year, 9 months ago

US inflation eases but stays high, putting Fed in tough spot

Associated Press  

WASHINGTON — U.S. consumer price increases eased slightly from January to February but still pointed to an elevated inflation rate that is posing a challenge for the Federal Reserve at a delicate moment for the financial system. Even though prices are rising much faster than the Fed wants, some economists expect the central bank to suspend its year-long streak of …

US economy sending mixed signals: Here’s what it all means
1 year, 9 months ago

US economy sending mixed signals: Here’s what it all means

Associated Press  

WASHINGTON — Maybe it was just too good to be true. Fed Chair Jerome Powell was expected to warn Congress Tuesday that the central bank will have to raise interest rates even higher than it’s previously signaled if inflation keeps running hot. By June 2022, consumer prices were 9.1% higher than they’d been a year earlier — the hottest year-over-year …

Inflation rocked Biden’s second year as president. There’s more economic trouble on the horizon
1 year, 11 months ago

Inflation rocked Biden’s second year as president. There’s more economic trouble on the horizon

The Independent  

Sign up for the daily Inside Washington email for exclusive US coverage and analysis sent to your inbox Get our free Inside Washington email Get our free Inside Washington email SIGN UP I would like to be emailed about offers, events and updates from The Independent. open image in gallery President Joe Biden listens during an event about infrastructure in …

High inflation and efforts to tame it defined 2022 economy
2 years ago

High inflation and efforts to tame it defined 2022 economy

Associated Press  

WASHINGTON — For the economy, 2022 was a throwback year. The Fed’s officials, it turns out, underestimated how pay increases, federal aid, supply shortages and a pent-up desire by consumers to spend would conspire to accelerate inflation — and keep it high. “We will see much better inflation numbers over the course of the next 12 to 18 months.’’ Yet …

Stock market surges after inflation report shows the pain of high prices may ease
2 years, 1 month ago

Stock market surges after inflation report shows the pain of high prices may ease

NPR  

Stock market surges after inflation report shows the pain of high prices may ease Enlarge this image toggle caption FREDERIC J. BROWN/AFP via Getty Images FREDERIC J. BROWN/AFP via Getty Images Stocks surged in their biggest rally in two years on Thursday, after a better-than-expected inflation report showed that the galloping price increases that consumers have endured all year are …

As the causes of US inflation grow, so do the dangers
2 years, 2 months ago

As the causes of US inflation grow, so do the dangers

Associated Press  

WASHINGTON — What keeps driving inflation so high? Thursday’s report on consumer prices in September came in hotter than expected even as some previously big drivers of inflation — gas prices, used cars — fell for a third straight month. “The profile of who’s buying used is a dramatically upper-scale type of customer.” SERVICES INFLATION TAKES OVER Rising prices can …

Driven by consumers, US inflation grows more persistent
2 years, 3 months ago

Driven by consumers, US inflation grows more persistent

Associated Press  

WASHINGTON — U.S. inflation is showing signs of entering a more stubborn phase that will likely require drastic action by the Federal Reserve, a shift that has panicked financial markets and heightens the risks of a recession. Instead, inflation has now sp On Tuesday, the government said inflation ticked up 0.1% from July to August and 8.3% from a year …

Why we need less food in our inflation basket
2 years, 3 months ago

Why we need less food in our inflation basket

Live Mint  

After declining for three consecutive months, retail inflation rose in August to 7% from 6.71% in July. While the rise in headline inflation is small, inflation in food and beverage was a much higher 7.57%. In contrast, core inflation inched up only 6 basis points to 6.01%, which may not offer much relief, as the Reserve Bank of India’s rate-setting …

Inflation falls to 8.3% - the second drop in a row - but still sits near 40-year high
2 years, 3 months ago

Inflation falls to 8.3% - the second drop in a row - but still sits near 40-year high

Daily Mail  

Inflation in the US dipped again in August to an 8.3 percent annual rate, thanks largely to falling gas prices, but remained near a four-decade high even as President Joe Biden says he is making progress on the issue. Falling gas prices led the retreat in August's inflation figures, with gasoline dropping 10.6 percent on the month, though pump prices …

How high is inflation and what causes it? What to know
2 years, 4 months ago

How high is inflation and what causes it? What to know

Live Mint  

U.S. inflation eased slightly to 8.5% in July, but remained close to a four-decade high despite cooling energy prices. Higher prices in one sector also don’t necessarily lead to general inflation across the economy. The readings, however, show that price increases are widespread and well above policy makers’ targets for annual inflation, which hover around 2% on average. Entrenched inflation …

EXPLAINER: Mixed US inflation signs. Where are prices going?
2 years, 4 months ago

EXPLAINER: Mixed US inflation signs. Where are prices going?

Associated Press  

WASHINGTON — Consumers struggling with skyrocketing prices for food, gas, autos and rent got a tantalizing hint of relief last month, when prices didn’t budge at all from June after 25 straight months of increases. When that happened last fall, Federal Reserve Chair Jerome Powell was forced to jettison his description of higher prices as being merely “transitory” and to …

Lower prices offer Americans slight reprieve from inflation
2 years, 4 months ago

Lower prices offer Americans slight reprieve from inflation

Associated Press  

WASHINGTON — Falling prices for gas, airline tickets and clothes gave Americans a little bit of relief last month, though overall inflation is still running at close to its highest level in four decades. Last month’s declines in travel-related prices helped lower core inflation, a measure that excludes the volatile food and energy categories and provides a clearer picture of …

Eurozone inflation surges to record high in fresh blow to Lagarde
2 years, 4 months ago

Eurozone inflation surges to record high in fresh blow to Lagarde

The Telegraph  

Inflation in the eurozone has soared to a new record high, piling more pressure on the European Central Bank as price rises show no signs of slowing. “Going forward, the path for inflation is very dependent on what happens with Russian gas flows, and hence energy prices, but in any case it isn’t expected to come down fast,” she added. …

US economy sending mixed signals: Here’s what it all means
54 years, 11 months ago

US economy sending mixed signals: Here’s what it all means

Associated Press  

WASHINGTON — The U.S. economy is caught in an awkward, painful place. Here’s a look at the economic vital signs that are sending frustratingly mixed signals to policymakers, businesses and forecasters: ___ THE OVERALL ECONOMY As measured by the nation’s gross domestic product — the broadest gauge of output — the economy has looked positively sickly so far this year. …

US economy sending mixed signals: Here’s what it all means
2 years, 4 months ago

US economy sending mixed signals: Here’s what it all means

Associated Press  

WASHINGTON — The U.S. economy is caught in an awkward, painful place. Here’s a look at the economic vital signs that are sending frustratingly mixed signals to policymakers, businesses and forecasters: ___ THE OVERALL ECONOMY As measured by the nation’s gross domestic product — the broadest gauge of output — the economy has looked positively sickly so far this year. …

US inflation surges again in June, raising risks for economy
2 years, 5 months ago

US inflation surges again in June, raising risks for economy

Associated Press  

WASHINGTON — U.S. inflation surged to a new four-decade high in June because of rising prices for gas, food and rent, squeezing household budgets and pressuring the Federal Reserve to raise interest rates aggressively -- trends that raise the risk of a recession. The government’s consumer price index soared 9.1% over the past year, the biggest yearly increase since 1981, …

EXPLAINER: Why US inflation is so high, and when it may ease
2 years, 5 months ago

EXPLAINER: Why US inflation is so high, and when it may ease

Associated Press  

WASHINGTON — Inflation’s relentless surge didn’t merely persist in June. Even if you toss out food and energy prices — which are notoriously volatile and have driven much of the price spike — so-called core inflation soared 5.9% over the past year. The inflation of the 1970s and early 1980s peaked at 14.8% in March 1980 before the Fed exorcized …

U.S. inflation reached a new 40-year high of 9.1% in June
2 years, 5 months ago

U.S. inflation reached a new 40-year high of 9.1% in June

LA Times  

U.S. inflation surged to a new four-decade high in June because of rising prices for gas, food and rent, squeezing household budgets and pressuring the Federal Reserve to raise interest rates aggressively — trends that raise the risk of a recession. The government’s consumer price index soared 9.1% in June from June 2021, the biggest year-over-year increase since 1981, with …

US inflation jumps 9.1 percent in June to fresh four-decade high
2 years, 5 months ago

US inflation jumps 9.1 percent in June to fresh four-decade high

Al Jazeera  

The rise in the CPI gives the Federal Reserve – the US central bank – free rein to hike interest rates further later this month. US inflation roared again to a fresh four-decade high last month, likely strengthening the Federal Reserve’s resolve to aggressively raise interest rates that risks upending the economic expansion. The consumer price index rose 9.1% from …

US inflation at new 40-year high as price increases spread
2 years, 6 months ago

US inflation at new 40-year high as price increases spread

Associated Press  

WASHINGTON — The prices of gas, food and most other goods and services jumped in May, raising inflation to a new four-decade high and giving American households no respite from rising costs. Consumer prices surged 8.6% last month from a year earlier, faster than April’s year-over-year increase of 8.3%, the Labor Department said Friday. Friday’s report underscored fears that inflation …

Biden vows to battle inflation as prices keep climbing
2 years, 6 months ago

Biden vows to battle inflation as prices keep climbing

Associated Press  

LOS ANGELES — In President Joe Biden’s estimation, the U.S. is in a strong position to overcome the worst inflation in more than 40 years. Biden on Friday pledged to keep fighting against inflation while touring the Port of Los Angeles, America’s busiest port and a place that the White House said last October would be key for reducing price …

U.S. inflation hit a new 40-year high last month of 8.6%
2 years, 6 months ago

U.S. inflation hit a new 40-year high last month of 8.6%

The Hindu  

The costs of gas, food, and other necessities jumped in May, raising inflation to a new four-decade high and giving American households no respite from rising costs. Consumer prices surged 8.6% last month from 12 months earlier, faster than April’s year-over-year surge of 8.3%, the Labour Department said Friday. America’s rampant inflation is imposing severe pressures on families, forcing them …

US inflation hit a new 40-year high in May of 8.6 percent
2 years, 6 months ago

US inflation hit a new 40-year high in May of 8.6 percent

Al Jazeera  

President Joe Biden will talk about inflation and his administration’s efforts to lower prices on Friday in Los Angeles. The costs of petrol, food and other necessities jumped in May, raising inflation in the United States to a new four-decade high and giving American households no respite from rising costs. Consumer prices surged 8.6 percent last month from 12 months …

U.S. inflation hit 8.6% last month, a new 40-year high
2 years, 6 months ago

U.S. inflation hit 8.6% last month, a new 40-year high

LA Times  

The costs of gas, food and other necessities jumped in May, raising inflation to a four-decade high. The costs of gas, food and other necessities jumped in May, raising inflation to a new four-decade high and giving American households no respite from rising costs. Consumer prices surged 8.6% last month from 12 months earlier, faster than April’s year-over-year surge of …

Janet Yellen: ‘Unacceptable’ inflation is a global problem
2 years, 6 months ago

Janet Yellen: ‘Unacceptable’ inflation is a global problem

CNN  

New York CNN — US Treasury Secretary Janet Yellen conceded on Tuesday that inflation is at “unacceptable levels,” but she also sought to underscore that this is not a problem exclusive to the United States. I do expect inflation to remain high, although I very much hope it will be coming down.” Echoing comments she made last week to CNN’s …

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