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Inflation

FILE - United States Postal Service letter carrier Gabriel Peña carries mail in Los Angeles on March 22, 2024. On Friday, June 7, 2024, the U.S. government issues its May jobs report. (AP Photo/Damian Dovarganes, File)

US hiring and wage growth picked up last month in sign of sustained economic health

America’s employers added a strong 272,000 jobs in May, accelerating from April and a sign that companies are still confident enough in the economy to keep hiring despite persistently high interest rates.
 
FILE - Salesmen examine an unsold 2024 Cooper Clubman S utility vehicle at a Mini dealership May 1, 2024, in Highlands Ranch, Colo. On Friday, May 31, 2024, the Commerce Department issues its report on consumer spending for April. (AP Photo/David Zalubowski, File)

An inflation gauge closely tracked by Federal Reserve rises at slowest pace this year

 
FILE - The European Central Bank is pictured next to containers in Frankfurt, Germany, on April 9, 2024. Inflation ticked up to an annual 2.6% in Europe in May, according to official figures on Friday, May 31, 2024. That's more than expected as a painful spike in consumer prices takes its time to fade away.(AP Photo/Michael Probst, File)

Inflation ticked up in Europe in May. That likely won’t stop a central bank rate cut next week

 
Specialist Meric Greenbaum works at his post on the floor of the New York Stock Exchange, Thursday, May 30, 2024. Most U.S. stocks are rising following mixed profit reports from big companies and signals that the economy may be cooling. (AP Photo/Richard Drew)

Stock market today: Wall Street rallies to close out a bloom-filled May

 
FILE - A 2024 Ford F-150 truck is assembled at the Dearborn Truck Plant, Thursday, April 11, 2024, in Dearborn, Mich. On Thursday, May 30, 2024, the Commerce Department issues its second estimate of how the U.S. economy performed in the first quarter of 2024. (AP Photo/Carlos Osorio, File)

US economic growth last quarter is revised down from 1.6% rate to 1.3%, but consumers kept spending

 

UN chief António Guterres aims at the fossil fuel industry and calls for windfall tax on profits

UN chief António Guterres aims at the fossil fuel industry and calls for windfall tax on profits
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CEOs got hefty pay raises in 2023, widening the gap with the workers they oversee

Subway fares surge almost four times in Buenos Aires as part of Argentina’s austerity campaign

Argentina reports its first single-digit inflation in 6 months as markets swoon and costs hit home

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Ambulance services for some in New Mexico will rise after state regulators approve rate increase

Ambulance rates will rise for some in New Mexico, particularly those without health insurance after state regulators approved a rate hike for a Presbyterian-affiliated nonprofit ambulance company.
 
FILE - A McDonald's sign is seen, March 14, 2024, in Wheeling, Ill. McDonald’s is fighting back against viral tweets and media reports that it says have exaggerated its price increases. (AP Photo/Nam Y. Huh, File)

McDonald’s says $18 Big Mac meal was an ‘exception’ and news reports overstated its price increases

McDonald’s is fighting back against media reports it says have exaggerated its price increases. In a post on the company’s website Wednesday, McDonald’s U.S. president said reports suggesting the price of the average Big Mac has doubled since 2019 were false.
 
A line of unsold 2024 Edge utility vehicles sit at a Ford dealership Sunday, May 19, 2024, in Denver. Policymakers' willingness to keep their key rate at a two-decade peak — thereby keeping costs painfully high for mortgages, auto loans and other forms of consumer borrowing — carries its own risks.(AP Photo/David Zalubowski)

Inflation pressures lingering from pandemic are keeping Fed rate cuts on pause

Hopes for interest rate cuts this year by the Federal Reserve are steadily fading, with a stream of recent remarks by Fed officials underscoring their intention to keep borrowing costs high as long as needed to curb persistently elevated inflation.
 
A line of unsold 2024 F150 pickup trucks sit at a Ford dealership Sunday, May 19, 2024, in Denver. The Conference Board reports on U.S. consumer confidence for May on Tuesday, May 28, 2024. (AP Photo/David Zalubowski)

US consumer confidence rises in May after three months of declines

Consumer confidence in the U.S. rose in May following three straight months of declines, but Americans remain anxious about elevated inflation and interest rates.
 
FILE - Cashiers process purchases at a Walmart Supercenter in North Bergen, N.J., on Feb. 9, 2023. Retailers, including Walmart and Target, are stepping up discounting heading into the summer of 2024, as they hope to offer frustrated shoppers some relief from higher prices and entice them to open their wallets.(AP Photo/Eduardo Munoz Alvarez, File)

Major retailers are offering summer deals to entice inflation-weary shoppers

Americans who spend Memorial Day scouting sales online and in stores may find more reasons to celebrate the return of warmer weather.
 

This week: Consumer confidence, Dick’s Sporting Goods earnings and the latest US inflation reading

The Conference Board on Tuesday issues its consumer confidence index for May. On Wednesday, Dick’s Sporting Goods releases its latest financial results and on Friday the Commerce Department delivers its April data on U.S. consumer spending and inflation.
 
FILE - Tourists gather near the New York Stock Exchange on May 16, 2024, in New York. Shares retreated in Europe and Asia on Friday, May 24, 2024, after unexpectedly strong reports on the U.S. economy raised the possibility that interest rates may stay painfully high. (AP Photo/Peter Morgan, File)

Stock market today: Nasdaq sets another record as Wall Street wins back earlier losses

U.S. stocks rose in a bounce back from Wall Street’s worst day since April. The S&P 500 gained 0.7% to win back all its losses from earlier in the week.
 
FILE - Federal Reserve Board Chair Jerome Powell speaks at a news conference at the Federal Reserve in Washington, May 1, 2024. On Wednesday, May 22, 2024, the Federal Reserve releases minutes from its most recent policy meeting. (AP Photo/Susan Walsh, File)

Federal Reserve minutes: Policymakers saw a longer path to rate cuts

After several unexpectedly high inflation readings, Federal Reserve officials concluded at a meeting earlier this month that it would take longer than they previously thought for inflation to cool enough to justify reducing their key interest rate, now at a 23-year high.
 
FILE - Merchandise is displayed at a Target store Nov. 15, 2023, in Orlando, Fla. Target reports earnings on Wednesday, May 22, 2024. (AP Photo/John Raoux, File)

Target sales decline to start the year, but it sees improvement

Target is reporting a decline in quarterly revenue as still-stubborn inflation cuts into shoppers’ spending.
 
A general view of the Bank of England in London, Thursday May 9, 2024. The Bank of England has kept its main U.K. interest rate at a 16-year high of 5.25% with several policymakers still worrying about some key inflation measures. In a statement Thursday, the bank’s nine-member Monetary Policy Committee voted 7-2 to keep rates unchanged, with the 2 dissenters backing a quarter-point reduction. (Yui Mok/PA via AP)

UK inflation lowest in 3 years. Prime Minister Sunak makes it a focus in election call for July 4

Inflation in the U.K. fell sharply to its lowest level in nearly three years in April on the back of big declines in domestic bills.
 

Norwegian Cruise Line, Wix.com rise; Cushman & Wakefield, Target fall, Monday, 5/20/2024

Stocks that traded heavily or had substantial price changes on Monday: Norwegian Cruise Line, Wix.com rise; Cushman & Wakefield, Target fall.
 
Commuters wait to board a subway car, in Buenos Aires, Argentina, Friday, May 17, 2024. Argentine commuters in Buenos Aires on Friday were hit by an abrupt 360% increase in subway fares, as part of President Javier Milei's budget austerity campaign. (AP Photo/Rodrigo Abd)

Subway commuters in Buenos Aires see fares spike by 360% as part of austerity campaign in Argentina

Commuters in Buenos Aires are being hit by an abrupt 360% increase in subway fares. It’s one of the most dramatic price hikes in libertarian President Javier Milei’s harsh budget austerity campaign in Argentina.
 

Walmart, Canada Goose rise; Deere, Freeport-McMoRan fall, Thursday, 5/16/2024

Stocks that traded heavily or had substantial price changes on Thursday: Walmart, Canada Goose rise; Deere, Freeport-McMoRan fall.
 
FILE - A worker carries bananas inside the Walmart Supercenter on Feb. 9, 2023, in North Bergen, New Jersey. Walmart reports earnings on Thursday, May 17, 2024. (AP Photo/Eduardo Munoz Alvarez, File)

Walmart’s strong first quarter driven by consumers seeking bargains with inflation still an issue

Walmart is reporting another quarter of strong results as its low prices pull in shoppers scouring for discounts with inflation stubbornly high.
 
FILE - A customer checks out of a Walmart store Wednesday, Feb. 21, 2024, in Englewood, Colo. On Wednesday, May 15, 2024, the Commerce Department releases U.S. retail sales data for April. (AP Photo/David Zalubowski, File)

Retail sales were unchanged in April from March as inflation and interest rates curb spending

Americans unexpectedly paused their spending in April from March as inflation continued to sting and elevated interest rates made taking on debt more burdensome.
 
Currency traders work near the screen showing the Korea Composite Stock Price Index (KOSPI) at the foreign exchange dealing room of the KEB Hana Bank headquarters in Seoul, South Korea, Thursday, May 16, 2024. (AP Photo/Ahn Young-joon)

Stock market today: Asian shares advance after another round of Wall St records

Asian shares are higher after U.S. stocks rallied to records on hopes that inflation is heading back in the right direction.
 
A sign trumpets discounts available in a clothing store in a mall Monday, April 29, 2024, in Lone Tree, Colo. On Wednesday, May 15, 2024, the Labor Department issues its report on inflation at the consumer level in April. (AP Photo/David Zalubowski)

US inflation eased last month in the first slowdown of 2024

Led by lower food and auto prices, inflation in the United States cooled slightly last month after three elevated readings, likely offering a tentative sigh of relief for officials at the Federal Reserve as well as President Joe Biden’s re-election team.
 
President Joe Biden speaks in the Rose Garden of the White House in Washington, Tuesday, May 14, 2024, announcing plans to impose major new tariffs on electric vehicles, semiconductors, solar equipment and medical supplies imported from China. (AP Photo/Susan Walsh)

New US tariffs on Chinese electric vehicles, batteries and solar cells could raise consumer prices

New tariffs on Chinese electric vehicles and batteries, solar cells, medical equipment and other goods are intended to protect U.S. jobs and manufacturers.
 
A vendor waits for customers at the central market for fruit and vegetables in Buenos Aires, Argentina, Friday, May 10, 2024. (AP Photo/Natacha Pisarenko)

Argentina reports its first single-digit inflation in 6 months as markets swoon and costs hit home

Government data in Argentina says the country’s monthly inflation rate has eased sharply to a single-digit rate in April for the first time in half a year.
 
FILE - Federal Reserve Board Chair Jerome Powell appears before the House Financial Services Committee on Capitol Hill, March 6, 2024, in Washington. Powell said Tuesday, May 14, that the central bank is unlikely to hike its key interest rate in response signs of stubborn inflation, and underscored his view that price increases would soon start to cool again. (AP Photo/Mark Schiefelbein, file)

Fed’s Powell downplays potential for a rate hike despite higher price pressures

Federal Reserve Chair Jerome Powell said Tuesday that the central bank is unlikely to raise its key interest rate in response to signs of stubborn inflation and underscored his view that price increases would soon start to cool again.
 
FILE - Rubila Clemente waters green onions, on April 19, 2024, at Christopher Farm in Modoc, Ind. On Tuesday, May 14, 2024, the Labor Department releases producer prices data for April. (AP Photo/Joshua A. Bickel)

Wholesale price increases accelerated in April as inflation remains sticky

U.S. wholesale prices rose sharply last month, a sign that stubbornly high inflation may persist after three elevated readings in consumer prices to start the year.
 
FILE - A view of the exterior of the Home Depot improvement store, in Niles, Ill., on Feb. 19, 2022. Home Depot reports earnings on Tuesday, Nov. 14, 2023. Home Depot's sales continued to soften in the first quarter as the nation's largest home improvement retailer not only was constrained by high mortgage rates and customers dealing with inflation concerns, but it also had to deal with a delayed start to spring. (AP Photo/Nam Y. Huh, File)

Home Depot’s sales continue to soften in 2024 as inflation, delayed start to spring weigh on sales

Home Depot’s sales continued to soften in the first quarter as the nation’s largest home improvement retailer not only was constrained by high mortgage rates and customers dealing with inflation concerns, but it also had to deal with a delayed start to spring.
 
A person on a bicycle pauses in front of an electronic stock board showing Japan's Nikkei 225 index at a securities firm Wednesday, May 15, 2024, in Tokyo. (AP Photo/Eugene Hoshiko)

Stock market today: Asian markets follow Wall Street higher ahead of U.S. key inflation update

Asian stocks have advanced after equities rose on Wall Street, with the Nasdaq composite hitting a record high. Markets in Hong Kong and Seoul were closed for holidays.
 

This Week: Producer prices, inflation check, April retail sales

The Labor Department releases producer price data for April on Tuesday, and its April report on consumer prices on Wednesday.
 
A currency trader gives a thumps up near the screen showing the Korea Composite Stock Price Index (KOSPI) at the foreign exchange dealing room of the KEB Hana Bank headquarters in Seoul, South Korea, Tuesday, May 14, 2024. Asian shares were mixed in muted trading Tuesday, after U.S. stock indexes drifted to a mixed finish. (AP Photo/Ahn Young-joon)

Stock market today: Asian shares mixed in muted trading after Wall Street barely budges

Asian shares are mixed in muted trading after U.S. stock indexes were little changed. Investors are waiting for updates on inflation in the U.S.
 
FILE - A shopper passes a display of televisions at a Costco warehouse on April 29, 2024, in Lone Tree, Colo. On Friday May 10, 2024, the University of Michigan releases its preliminary reading of consumer sentiment for May. (AP Photo/David Zalubowski, File)

US consumer sentiment drops to 6-month low on inflation, unemployment fears

Consumer sentiment fell sharply in May to the lowest level in six months as Americans cited concerns about stubbornly high inflation and interest rates and fears that unemployment could rise.
 
FILE - A beam is measured and marked at a housing site in Madison County, Miss., Tuesday, March 16, 2021. Homeowners have been spending more for renovations in recent years, as high interest rates and inflation drove up costs for everything from flooring to refrigerators. (AP Photo/Rogelio V. Solis, File)

Spending on home renovations slows, but high remodeling costs mean little relief in sight for buyers

Homeowners have been spending more for renovations in recent years, as high interest rates and inflation drove up costs for everything from flooring to refrigerators.
 
A woman pays with cash as she buys from a street vendor, Sept. 26, 2017 in New York. Despite numbers showing a healthy economy overall, lower-income spenders are showing the strain. (AP Photo/Mark Lennihan)

Despite numbers showing a healthy economy overall, lower-income spenders are showing the strain

Cracks are showing in one of the main pillars keeping the economy out of a recession: resilient spending by U.S. households.
 
A general view of the Bank of England in London, Thursday May 9, 2024. The Bank of England has kept its main U.K. interest rate at a 16-year high of 5.25% with several policymakers still worrying about some key inflation measures. In a statement Thursday, the bank’s nine-member Monetary Policy Committee voted 7-2 to keep rates unchanged, with the 2 dissenters backing a quarter-point reduction. (Yui Mok/PA via AP)

Bank of England edges closer to rate cut, possibly in June, as it predicts below-target inflation

The Bank of England is keeping its main U.K. interest rate at a 16-year high of 5.25% though it gave a broad hint that a reduction could be on the cards as soon as June as inflation is forecast to fall below target.
 
FILE - The Bank of England in London, is shown on Dec. 15, 2022. The bank is expected to maintain interest rates at a 16-year high of 5.25%, but a cut wouldn't be a huge surprise as inflation falls from multi-decade highs. (AP Photo/Alastair Grant, File)

Bank of England expected to wait for more evidence that inflation is under control before rate cut

The Bank of England is expected to maintain interest rates at a 16-year high of 5.25% Thursday, but a cut wouldn’t be a huge surprise as inflation falls from multi-decade highs.
 
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