New inflationary record: Producer prices surpassed 8.3% annual increase

U.S. 09/10/21, 21:34

Producer prices (PPI) rose at an annual rate of 8.3% in August, unprecedented in the United States, at least since this index began to be measured by the Labor Department.  On Friday, Sept. 10, the federal agency reported that its producer price index, which measures inflationary pressures before reaching consumers, rose ...

Rising prices are citizens’ biggest concern, says University of Michigan survey

U.S. 07/17/21, 17:17

The increase in prices of goods necessary for daily life during the Biden administration has reached records not seen since the 1960s, constituting the top concern of Americans.   "Consumers' complaints about rising prices on homes, vehicles, and household durables has reached an all-time record," reported University of Michigan consumer survey chief ...

Rep. Kevin McCarthy: US crisis due to Democrat reckless policies

U.S. 06/14/21, 18:53

House Minority Leader Kevin McCarthy (R-Calif.) has claimed that the United States is in crisis as the Democrats’ policies push the country into economic uncertainty, historic increases in violent crime, a worsening border crisis, and unsolved consequences of the COVID-19 pandemic. In a letter sent to House Republicans on Sunday, June ...

Powell says Fed stands ready to respond to trade conflicts

Business 06/04/19, 09:41

Chairman Jerome Powell said Tuesday that the Federal Reserve is prepared to respond to the Trump administration's trade conflicts to protect the U.S. economic expansion if it decides that would be necessary. Powell's comments came at a conference in Chicago on how the central bank can make its interest rate policy ...

Nonprofits turn to cryptocurrency to help needy Venezuelans

America 05/21/19, 23:00

Andreina Cordero started the year skipping meals so her three kids could eat. Her husband, a construction worker, was out of a job. And the family's savings had been devastated by the nation's hyperinflation, limiting Cordero's children to a diet of rice, beans, pasta and fried corn patties.But the family ...

Eurozone inflation ticks up in hopeful sign for central bank

Europe 05/03/19, 04:40

Inflation rose in April in the 19-country eurozone, at first glance an encouraging sign for the European Central Bank in its struggle to sustainably raise prices.The European Union's statistics agency Eurostat said Friday that annual inflation rose to 1.7% in April from 1.4% in March. Core inflation, which excludes volatile ...

Asian stocks mixed as Fed steers clear of signaling rate cut

Business 05/02/19, 01:52

Asian stocks were mixed on Thursday after the U.S. Federal Reserve kept its benchmark interest rate intact and steered clear of suggesting that a cut was possible this year. Trading was light with markets in Japan and mainland China closed.Hong Kong's Hang Seng rose 0.6% to 29,882.20 while Australia's S&P ...

Fed seen as sure to leave rates alone despite Trump pressure

Business 04/30/19, 23:56

The Federal Reserve is all but sure to keep interest rates on hold Wednesday — and for the foreseeable future — even as President Donald Trump keeps up his attacks on the Fed for not cutting rates. The Fed will likely reiterate a message that has reassured consumers and investors since ...

Money games: Revised LA Olympics budget nearly $7 billion

Sports 04/30/19, 08:41

The price tag on the Los Angeles 2028 Olympics is now $6.88 billion, a $1.36 billion increase that comes mainly because of accounting measures designed to better reflect inflation over the long lead-up to those games.Most key numbers the organizing committee released Tuesday are essentially the same as those in ...

Fed likely to underscore a message: No rates hikes in 2019

Business 04/29/19, 10:26

The Federal Reserve this week will likely reinforce a theme that has cheered consumers and investors since the start of the year: No interest rates hikes are likely anytime soon. The prospect of continued low rates is keeping borrowing costs low for households and companies. It is helping drive record highs ...

US consumer spending surges 0.9% in March

Business 04/29/19, 08:15

U.S. consumer spending surged 0.9% in March, the biggest gain in nearly a decade, as inflation pressures remain non-existent.The March gain was the biggest monthly increase since August 2009, the Commerce Department reported Monday. That's a marked improvement after three months of lackluster readings in this key segment of the ...

Argentina to freeze prices of goods in bid to tame inflation

America 04/17/19, 16:09

Argentina's government is freezing the prices of 60 essential products and some services in a bid to tame spiraling inflation.President Mauricio Macri announced Wednesday that the goods affected include flour, oil, rice and personal hygiene items. He also said prices for services such as telephone plans will not be raised.Macri ...

US consumer prices rose 0.4% in March on higher gas costs

Business 04/10/19, 10:46

U.S. consumer prices climbed 0.4% in March, an increase caused mostly by higher costs for gasoline, electricity and shelter. The Labor Department said Wednesday that the consumer price index rose a healthy 1.9% last month from a year ago, a sharp jump from the annual pace of 1.5% in February. Inflation has ...

India’s central bank cuts lending rate to 6%

Business 04/04/19, 06:20

India's central bank cut its key interest rate by a quarter of a percentage point to 6% on Thursday, moving to prop up economic growth ahead of a national election next week.The interest rate is what the federal bank charges on lending to commercial banks.Lower interest rates help borrowers, though ...

Eurozone economy gets double dose of bad news

Business 04/01/19, 04:38

The eurozone economy received a double dose of bad news Monday as inflation fell further away from the European Central Bank's target and a closely monitored survey showed the crucial manufacturing sector shrinking at its fastest rate in six years.The developments suggest Europe is struggling to cope with global trade ...

Homelessness rises in Argentina’s capital amid crisis

America 03/29/19, 00:04

A smiling two-year-old Valentina Aleman runs down a sidewalk in Buenos Aires, dodging cardboard boxes, a worn-out sofa and a broken refrigerator without noticing the cars zooming dangerously close to her and others risks of living on the streets.A makeshift tent of cardboard and plastic bags on the side of ...

US wholesale prices ticked up 0.1 percent in February

Business 03/13/19, 07:48

U.S. wholesale prices barely increased last month after falling for three straight months, a sign there is little inflation pressure in the economy.The producer price index — which measures price changes before they reach the consumer — rose 0.1 percent in February, the Labor Department said Wednesday. It slipped 0.1 ...

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