FRANKFURT, Germany (AP) — Inflation in Europe has eased for the first time in more than a year as energy prices drifted down from painful highs, but the double-digit rate still hovers near a record that has robbed consumers of their spending power and led economists to predict a recession.
LONDON (AP) — Britain’s inflation rate rose to a 41-year high in October, fueling demands for the government to do more to ease the nation’s cost-of-living crisis when it releases new tax and spending plans Thursday.
BEIJING (AP) — Asian stock markets surged Friday after U.S. inflation eased by more than expected, spurring hopes the Federal Reserve might scale down plans for more interest rate hikes.
WASHINGTON (AP) — Price increases moderated in the United States last month in the latest sign that the inflation pressures that have gripped the nation might be easing as the economy slows.
Consumer inflation reached 7.7% in October from a year earlier and 0.4% from September, the government said Thursday.
ATHENS, Greece (AP) — Workers walked off the job in Greece and Belgium on Wednesday during nationwide strikes against increasing consumer prices, disrupting transportation, forcing flight cancellations and shutting down public services in the latest European protests over the rising cost of living.
ANKARA, Turkey (AP) — Annual inflation in Turkey continued to rise in October, official figures showed Thursday, pushing the price of essential goods higher and amplifying a cost-of-living crisis in the country.
FRANKFURT, Germany (AP) — The European Central Bank piled on another outsized interest rate hike aimed at squelching out-of-control inflation, increasing rates at the fastest pace in the euro currency’s history and underscoring the bank's determination to control prices despite the threat of recession.
TOKYO (AP) — Asian shares were mostly lower Friday in muted trading, as investors kept an eye on inflation.
Benchmarks fell in Tokyo, Seoul, Sydney and Hong Kong but rose in Shanghai and Mumbai.
WASHINGTON (AP) — Taxpayers will get fatter standard deductions for 2023 and all seven federal income tax bracket levels will be revised upward as the government allows people to shield more of their money from taxation because of persistently high inflation.
LONDON (AP) — British food prices rose at the fastest pace since 1980 last month, driving inflation back to a 40-year high and heaping pressure on the embattled government to balance the books without gutting help for the nation’s poorest residents.
Inflation is proving to be a stubborn, unwanted houseguest.
No one particularly likes paying more for food, fuel and other living costs. But so far, the Federal Reserve’s attempts since March to evict inflation with higher interest rates haven’t worked.
BEIJING (AP) — Asian stock markets surged Friday after Wall Street rebounded from a slump caused by worse-than-forecast inflation numbers.
Japan's market benchmark soared by an unusually wide margin of 3.4%.
WASHINGTON (AP) — Inflation in the United States accelerated in September, with the cost of housing and other necessities intensifying pressure on households, wiping out pay gains and ensuring that the Federal Reserve will keep raising interest rates aggressively.
BEIJING (AP) — Asian stock markets fell Thursday ahead of an update on U.S. inflation that investors worry will reinforce the Federal Reserve's plans for more aggressive interest rate hikes.
FRANKFURT, Germany (AP) — Inflation in the European countries using the euro currency has broken into double digits as prices for electricity and natural gas soar, signaling a looming winter recession for one of the globe's major economies as higher prices undermine consumers' spending power.
WASHINGTON (AP) — Battered by surging consumer prices and rising interest rates, the U.S. economy shrank at a 0.6% annual rate from April through June, the government announced Thursday, unchanged from its previous second-quarter estimate.
LONDON (AP) — Inflation in the United Kingdom slowed slightly last month as a drop in gasoline and diesel fuel prices gave consumers the first glimmer of hope that Britain’s cost-of-living crisis may be beginning to ease.
WASHINGTON (AP) — Lower gas costs slowed U.S. inflation for a second straight month in August, but most other prices across the economy kept rising — evidence that inflation remains a heavy burden for American households.
WASHINGTON (AP) — Inflation eased last month as energy prices tumbled, raising hopes that the surging costs of everything from gasoline to food may have peaked.
According to a Commerce Department report Friday that is closely watched by the Federal Reserve, consumer prices rose 6.3% in July from a year earlier after posting an annual increase of 6.8% in June, the biggest jump since 1982.
LONDON (AP) — Britain’s inflation rate rose to a new 40-year high of 10.1% in July, a faster pace than in the U.S. and Europe as climbing food prices in the United Kingdom tightened a cost-of-living squeeze fueled by the soaring cost of energy.
BUENOS AIRES, Argentina (AP) — Argentina reported a monthly inflation rate of 7.4% in July, the highest number in two decades for a country where citizens are used to increasing prices.
Over the past year, Argentina’s consumer prices have soared a whopping 71%, the INDEC national statistics agency said Thursday.
WASHINGTON (AP) — 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.
LONDON (AP) — The Bank of England announced its biggest interest rate increase in 27 years on Thursday as it forecast that the war in Ukraine would fuel further inflation and tip the U.K.
MOSCOW (AP) — The Russian central bank diverged from its Western counterparts by slashing its key interest rate Friday just a month after dropping it to where it was before the country sent troops into Ukraine.
LONDON (AP) — Inflation in the United Kingdom has accelerated to a new 40-year high, driven by rising food and fuel prices that are contributing to a cost-of-living crisis.
WASHINGTON (AP) — 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.
WASHINGTON (AP) — Inflation's relentless surge didn't merely persist in June. It accelerated.
For the 12 months ending in June, the government's consumer price index rocketed 9.1%, the fastest year-over-year jump since 1981.
BEIJING (AP) — Asian stock markets rose Wednesday as investors waited for U.S. inflation data some worry might lead to more interest rate hikes.
Shanghai, Tokyo, Hong Kong and Seoul rose. Sydney declined.
WASHINGTON (AP) — Federal Reserve Chair Jerome Powell said there's “no guarantee'' the central bank can tame runaway inflation without hurting the job market.
SINTRA, Portugal (AP) — The head of the European Central Bank said Tuesday that it will move gradually to combat soaring consumer prices with interest rate hikes in July and September but will keep its options open to “stamp out" inflation if it surges faster than expected.
LONDON (AP) — Britain’s inflation rate hit a new 40-year high of 9.1% in the 12 months to May, figures showed Wednesday, as Russia's war in Ukraine drove food and fuel prices ever higher.
WASHINGTON (AP) — 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.
LOS ANGELES (AP) — In President Joe Biden's estimation, the U.S. is in a strong position to overcome the worst inflation in more than 40 years. But so far, inflation just keeps getting the better of the U.S.
BANGKOK (AP) — Shares were mostly lower in Asia on Friday, with only Shanghai rising, after stocks tumbled on Wall Street on expectations central banks will double down on battling inflation with interest rate hikes.
ANKARA, Turkey (AP) — Annual inflation in Turkey hit 73.5% in May, the highest rate since 1998, according to official data released Friday as a cost-of-living crisis in the country deepens.
The Turkish Statistical Institute said the rate represented an increase of almost 70% from the month before.
WASHINGTON (AP) — The Congressional Budget Office released an economic outlook Wednesday saying high inflation will persist into next year, likely causing the federal government to pay higher interest rates on its debt.
LONDON (AP) — Britain’s inflation rate rose to the highest level in 40 years last month as Russia's war in Ukraine fueled further increases in food and fuel prices.