The persistence of inflation makes wealthy consumers more price-sensitive, leading them to seek bargains at Walmart, which is gaining an edge over Amazon in shopping convenience.
The US Federal Reserve should keep interest rates at their current elevated levels for longer than previously expected due to disappointing recent inflation data, a senior bank official said Monday.
The European Commission expects inflation to fall to 2.5 percent in 2024, down from a previous forecast of 2.7 percent -- news that will be welcomed by the European Central Bank (ECB).
Last week's rally followed the previous two weeks' rally and was driven by better earnings from semiconductor giant Taiwan Semiconductor and steady bond yields.
The figures are unlikely to stop the European Central Bank (ECB) from cutting interest rates in June as expected, according to economists despite the growth figure.
Price pressures remained elevated in March, fresh data from the Commerce Department showed Friday, as the personal consumption expenditures (PCE) price index exceeded forecasts.
Inflation for branded essential consumer goods is easing, helping slow down the rising cost of living that has undermined household budgets nationwide, according to Procter & Gamble Company's (P&G) third-quarter earnings report released last Friday.
The London index has in recent weeks been lifted by weakening of the pound, particularly against the dollar, as markets anticipate cuts to UK interest rates in the coming months thanks to slowing price rises.
Consumer price data released by the U.S. Bureau of Labor Statistics (BLS) shows that car insurance premiums rose at a whopping annual rate of 22.2% in March, well above the 3.5% rise in the Consumer Price Index (CPI).
The US Federal Reserve's ongoing fight against inflation could take "longer than expected," the head of the US central bank said Tuesday, further paring back the chances of early rate cuts.
According to the Consumer Price Index (CPI), a broad measure of the average change over time in the price of a market basket of consumer goods and services, inflation headed in the wrong direction again in March, up rather than down.
US Federal Reserve officials raised concerns at their March interest rate meeting about the recent "broad-based" rise in inflation, but still said they expected cuts to start this year, according to minutes of the meeting published Wednesday.
The latest CPI report for March unveils a sharp uptick in inflation to 3.5%, posing a significant test to the resilience of the economy.
Inflation could remain elevated for longer than expected, posing a risk to the US economy's near-term health, JPMorgan Chase Chief Executive Jamie Dimon said Monday.
One catalyst behind Wall Street's heighten volatility during the week was higher oil prices, growing Middle East tensions, and more robust economic data from China early in the week.
Global food prices rose in March, the first increase since July, pulled higher by cooking oil prices despite the cost of grains continuing to ease, the UN's Food and Agricultural Organization said Friday.
Insights from a comprehensive survey spanning nine countries reveal widespread financial stress and retirement challenges globally.
The recent rise in US inflation hasn't stalled the Federal Reserve's ongoing fight against rising prices, Fed chair Jerome Powell said Friday, shortly after the publication of fresh government data.
Inflation remains stable while consumer spending exceeds estimates, signaling economic resilience.
The US central bank should either scale back or delay its interest rate cuts in response to "disappointing" inflation data, a senior Federal Reserve official said Wednesday.
The surge in immigration has sparked a complex interplay between economic growth, labor dynamics, and housing challenges.
Japan's central bank on Tuesday scrapped its negative interest rate as it finally began unwinding one of the world's most aggressive monetary easing programs.
