Right before the election, inflation rose to 2.6 percent annual rate
The bulk of October’s monthly increase was driven by a rise in shelter costs, which were up 0.4 percent last month and grew by 4.9 percent annually.
Inflation
Articles
Restaurants, other services still in grip of high inflation
While prices for most goods have been falling throughout the year, inflation for food services and home and auto insurance remain stubbornly high.
Key U.S. inflation gauge, spending pick up in mixed economic report
The Federal Reserve’s preferred measure of underlying U.S. inflation posted its biggest monthly gain since April, bolstering the case for a slower pace of interest-rate cuts following last month’s outsize reduction.
Inflation hits lowest point in three years, but core prices remain elevated
Excluding volatile food and energy costs, “core” prices, a gauge of underlying inflation, remained elevated in September, driven up by rising costs for medical care, clothing, auto insurance and airline fares.
Fed’s favored inflation gauge shows cooling price pressures
The ongoing decline in inflation makes it even more likely that the Federal Reserve will cut its key benchmark rate further in the coming months.
Federal Reserve cuts key interest rate by a sizable half-point, signaling end to its inflation fight
The rate cut, the Fed’s first in more than four years, reflects its new focus on bolstering the job market, which has shown clear signs of slowing.
Federal Reserve set to cut interest rates for first time in 4 years
At issue is how fast the Fed wants to lower interest rates to a point where they’re no longer acting as a brake on the economy—nor as an accelerant. Where that so-called “neutral” level falls isn’t clear.
Traders bet on quarter-point Fed cut this month after rise in core inflation
The so-called core consumer price index, which excludes food and energy costs, increased 0.3% from July and 3.2% from a year ago, Bureau of Labor Statistics figures showed Wednesday.
U.S. economic growth for last quarter revised up to 3% annual rate
The Commerce Department had previously estimated that the nation’s gross domestic product—the total output of goods and services—expanded at a 2.8% rate from April through June.
Fed leader Powell: ‘The time has come’ for Fed to begin reducing interest rates
Federal Reserve Chair Jerome Powell emphasized that inflation, after the worst price spike in four decades inflicted pain on millions of households, appears largely under control.
Annual inflation level falls to 3-year low, setting up Fed for expected rate cut
For nearly a year, 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.
Americans’ refusal to keep paying higher prices may be final blow to US inflation spike
Some of America’s largest companies say their customers are increasingly seeking cheaper alternative products and services, searching for bargains or just avoiding items they deem too expensive.
U.S. added just 114,000 jobs in July; unemployment rate rises to 4.3%
Friday’s report from the Labor Department showed that employers added 35% fewer jobs than forecasters had expected and the unemployment rate hit its highest level since October 2021.
Paychecks grew more slowly in second quarter, Labor Department says
Higher wages and benefits are good for employees, but slower pay growth will likely reassure Federal Reserve officials that inflation is steadily falling back to their 2% target.
Fed’s preferred inflation gauge cools, adding to likelihood of September rate cut
Inflation has fallen steadily for the past year. Even so, the costs of everyday necessities like groceries, gasoline and rent remain much higher than they were three years ago.
Powell says Federal Reserve more confident inflation slowing toward target
In his remarks Monday, Federal Reserve Chair Jerome Powell stressed that the Fed did not need to wait until inflation actually reached 2% to cut borrowing costs.
U.S. wholesale inflation picked up in June more than expected
The increase, the sharpest year-over-year increase since March 2023, comes at a time when other price indicators are showing that inflation has continued to ease.
Food companies feel the pain as consumers reject higher prices
PepsiCo’s and Conagra’s latest quarterly results suggest that consumers frustrated by rising prices are now spending less on established brands, particularly in the snack and soda aisles.
Inflation cools again, potentially paving way for Fed to cut interest rates soon
The June figures will qualify as another installment of the more good inflation data the central bank has been seeking. Should inflation remain low through the summer, most economists expect the Fed to begin cutting its benchmark rate in September.
Is inflation still cooling? Thursday’s report on June prices will provide clues.
Optimism is rising among economists, investors and Federal Reserve officials that U.S. inflation is nearly under control, with the latest report on consumer prices expected to show another month of mild increases.