Consumer prices

‘Is he secretly working for Dems?’: JD Vance stirs controversy while trying to target Kamala Harris, trolled for ‘lying’

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‘Is he secretly working for Dems?’: JD Vance stirs controversy while trying to target Kamala Harris, trolled for ‘lying’

Donald Trump‘s running mate and Ohio Senator J.D. Vance stirred controversy by connecting rising egg prices to the policies of Vice President Kamala Harris. The incident occurred during a visit to a supermarket in Reading, Pennsylvania, where Vance, accompanied by his children, sought to highlight inflationary pressures affecting consumers. — TrumpWarRoom (@TrumpWarRoom) However, his assertions … Read more

US Inflation falls to 3-year low, clearing the way for Fed to begin cutting rates

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US Inflation falls to 3-year low, clearing the way for Fed to begin cutting rates

Year-over-year inflation reached its lowest level in more than three years in July, the latest sign that the worst price spike in four decades is fading and setting up the Federal Reserve for an interest rate cut in September. Wednesday’s report from the Labor Department showed that consumer prices rose just 0.2% from June to … Read more

US Fed meet begins today: Why will chief Powell & team choose to stay put?

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US Fed meet begins today: Why will chief Powell & team choose to stay put?

The US Federal Reserve’s two-day monetary policy meeting is slated to begin later today, and the central bank is widely expected to stay put on interest rates after the recent data on inflation. Inflation data released last week showed that consumer prices in the US rose again in February. Consumer prices rose 0.4% for the … Read more

Japan’s consumer inflation hits fresh 40-year high | CNN Business

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Japan’s consumer inflation hits fresh 40-year high | CNN Business

Japan’s core consumer inflation hit a fresh four-decade high as companies continued to pass on rising costs to households, data showed, a sign price hikes were broadening and could keep the central bank under pressure to whittle down massive stimulus. Months before Tuesday’s surprise tweak to its yield control policy, Bank of Japan (BOJ) policymakers … Read more

Mortgage rates fall for the second week in a row | CNN Business

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Mortgage rates fall for the second week in a row | CNN Business

Mortgage rates dropped again this week, after plunging nearly half a percentage point last week. The 30-year fixed-rate mortgage averaged 6.58% in the week ending November 23, down from 6.61% the week before, according to Freddie Mac. A year ago, the 30-year fixed rate was 3.10%. Mortgage rates have risen throughout most of 2022, spurred … Read more

The Fed isn’t about to back down from its inflation fight | CNN Business

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The Fed isn’t about to back down from its inflation fight | CNN Business

A version of this story first appeared in CNN Business’ Before the Bell newsletter. Not a subscriber? You can sign up right here. You can listen to an audio version of the newsletter by clicking the same link. London CNN Business  —  Twelve days from now, the Federal Reserve will meet again, and expectations for the … Read more

US consumer spending rose in August as gas prices fell | CNN Business

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US consumer spending rose in August as gas prices fell | CNN Business

CNN Business  —  Another month of falling gas prices gave Americans’ wallets a bit of a reprieve in August. That sent consumers back to stores last month. The Census Bureau reported Thursday that a key measure of August US retail sales rose unexpectedly by 0.3% on a monthly basis, following a revised decrease of 0.4% … Read more

Euro zone economy posts record slump in second quarter, inflation ticks up

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Euro zone economy posts record slump in second quarter, inflation ticks up

BRUSSELS – The euro zone’s economy recorded its deepest contraction on record in the second quarter, preliminary estimates showed on Friday, while the bloc’s inflation unexpectedly ticked up in July. In the months from April to June, gross domestic product in the 19-country currency bloc shrank by 12.1% from the previous quarter, the European Union‘s … Read more