Stubbornly high rents and food prices boost US inflation in August

The consumer price index increases by 0.1% in August Rents, food and health care explain the rise in the CPI Core CPI jumped 0.6%; increased 6.3% year-over-year WASHINGTON, Sept 13 (Reuters) – U.S. consumer prices rose unexpectedly in August and core inflation accelerated amid rising rent and health care costs, giving the Federal Reserve ammunition … Read more

ECB raises rates by an unprecedented 75 basis points to fight inflation

Join now for FREE unlimited access to Reuters.com Register Increases deposit rate to 0.75% from zero Eurozone inflation uncomfortably high and rising New ECB forecasts show higher inflation and weaker growth Other rate hikes reported Lagarde will speak at 12:45 GMT FRANKFURT, Sept 8 (Reuters) – The European Central Bank raised key rates by a … Read more

Britain’s new leader Liz Truss finalizes huge electricity subsidy plan

Join now for FREE unlimited access to Reuters.com Register Truss will announce an energy support plan on Thursday The new Prime Minister rules out the exceptional tax on electricity companies Pound falls to lowest since 1985 against US dollar Kwarteng says borrowing will be higher BoE says support for energy could help calm inflation LONDON, … Read more

Britain’s new PM faces an ’80s playlist: recession, riots and runaway prices

UK inflation higher than all major economies Truss the favorite to become the next Prime Minister The town of Runcorn shows the scale of the challenge RUNCORN, England, Sept 2 (Reuters) – Britain’s prime minister-in-waiting Liz Truss is imitating Margaret Thatcher, judging by her photo shoots that echo famous images of the country’s first female … Read more

Fed officials see US interest rates rising further

John C. Williams, President and Chief Executive Officer of the Federal Reserve Bank of New York, speaks at the Economic Club of New York in the Manhattan borough of New York, U.S., March 6, 2019. REUTERS/Lucas jackson Join now for FREE unlimited access to Reuters.com Register Aug 30 (Reuters) – U.S. Federal Reserve officials on … Read more

Central banks will not be able to control inflation without better fiscal policy, study finds

The exterior of the Marriner S. Eccles Federal Reserve Board Building is seen in Washington, DC, U.S., June 14, 2022. REUTERS/Sarah Silbiger/File Photo Join now for FREE unlimited access to Reuters.com Register JACKSON HOLE, Wyo., Aug 27 (Reuters) – Central banks will fail to control inflation and could even push price growth higher unless governments … Read more

Lower gasoline prices are dampening consumer spending in the United States; monthly inflation slows down sharply

Consumer spending increases by 0.1% in July The decline in gas stations explains the slight increase The Core PCE price index edged up 0.1%; up 4.6 year-over-year WASHINGTON, Aug 26 (Reuters) – U.S. consumer spending barely rose in July as falling gasoline prices hurt sales at gas stations, but monthly inflation slowed sharply, which could … Read more

UK household energy bills will jump 80% to over $4,000 a year

A gas cooker is seen in Boroughbridge, northern England, November 13, 2012. REUTERS/Nigel Roddis Join now for FREE unlimited access to Reuters.com Register Price cap for 24 million households to increase from October Even higher prices expected in January Regulator calls for urgent government intervention ‘This is a national emergency,’ says opposition Labor LONDON, Aug … Read more

Biden Forgives Millions in Student Loans; critics fear inflation

WASHINGTON, Aug 24 (Reuters) – President Joe Biden said on Wednesday the U.S. government would forgive $10,000 in student loans to millions of indebted former students, fulfilling a promise he made during the 2020 campaign to the White House. The move could bolster support for his fellow Democrats in November’s congressional elections, but some economists … Read more

Fed minutes show more rate hikes in the pipeline, but pace could slow

The Federal Reserve Board building on Constitution Avenue is pictured in Washington, U.S., March 27, 2019. REUTERS/Brendan McDermid/File Photo Register now for FREE unlimited access to Reuters.com Register WASHINGTON, Aug 17 (Reuters) – Federal Reserve officials saw “little evidence” late last month that U.S. inflation pressures were easing, and steeled themselves to force the economy … Read more