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Inflation | Latest News & Reports | AP News

Inflation

The Fed is set to cut rates for a second time this year

No one knows how Tuesday’s presidential election will turn out, but the Federal Reserve’s move two days later is much easier to predict: With inflation continuing to cool, the Fed is set to cut interest rates for a second time this year.

Inflation gauge closely watched by the Fed falls to lowest level since early 2021

Russia’s central bank raises interest rate to 21% to fight inflation boosted by military spending

IMF’s view: The global fight against high inflation is ‘almost won’

Wealthier Americans are driving retail spending and powering US economy

Trump stumps for votes in Nevada and hits Harris on immigration

Donald Trump fired away at his Democratic rival, Kamala Harris, on the issue of immigration during a campaign rally in Henderson, Nevada late Thursday.

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Bill Clinton stumps for Harris at Arizona event

Dockworkers at ports from Maine to Texas go on strike

Department of Justice sues Visa, saying the card issuer monopolizes debit card markets

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This week: Consumer confidence, inflation, employment

The Conference Board publishes its consumer confidence index for October on Tuesday. The government on Thursday issues a consumer spending report that includes closely watched inflation data.

US shoppers spent more at retailers last month in latest sign consumers are driving growth

Americans stepped up their purchases at retailers last month as low unemployment, steady pay gains and rising stock and home values helped sustain their willingness to spend despite higher prices.

European Central Bank, seeing no signs of recession, cuts interest rates again

The European Central Bank, which sets interest rates for the 20 countries that use the euro currency, is not expecting the bloc to fall into recession as it cut borrowing costs once again after figures showed inflation across the bloc falling to its lowest level in more than three years and economic

UK inflation falls to lowest level in over 3 years, cementing expectations for another rate cut

Inflation in the U.K. has fallen to its lowest level in more than three years, a drop that has cemented market expectations that the Bank of England will lower interest rates at its next policy meeting.

Trump’s economic plans would worsen inflation, experts say

Donald Trump has vowed that if voters return him to the White House, “inflation will vanish completely.”

US consumer sentiment slips in October on frustration over high prices

Americans’ outlook on the economy soured a bit after two months of small gains, according to the University of Michigan’s consumer sentiment index, released Friday.

Wholesale inflation remained cool last month in latest sign that price pressures are slowing

Wholesale prices in the United States were unchanged last month in another sign that inflation is returning to something close to normal after years of pressuring America’s households in the wake of COVID-19.

Bacon hogs the spotlight in election debates, but reasons for its sizzling inflation are complex

Bacon prices have been a particular focus in this election. President Donald Trump mentioned them in his debate with Vice President Kamala Harris and again a week later during an interview on “Meet the Press.”

World Trade Organization slightly raises 2024 goods trade forecast but wary of potential setbacks

The World Trade Organization has raised its outlook for global goods trade this year slightly, but cautions that increasing geopolitical tensions and uncertainty over economic policy pose “substantial” risks to its forecast.

US inflation reaches lowest point in 3 years, though some price pressures remain

Inflation in the United States dropped last month to its lowest point since it first began surging more than three years ago, adding to a spate of encouraging economic news in the closing weeks of the presidential race.

PepsiCo lowers revenue forecast on “subdued” sales in US, China and elsewhere

PepsiCo lowered its sales forecast for the year after consumers in the U.S., China and elsewhere pulled back on its snacks and drinks.

This week: Consumer prices report, wholesale inflation data, consumer sentiment update

On Thursday , the Labor Department releases data on consumer prices for September. The government releases data prices at the wholesale level Friday, and the University of Michigan delivers October’s first snapshot of U.S. consumer sentiment.

The US could have seen shortages and higher retail prices if a dockworkers strike had dragged on

The union representing striking U.S. dockworkers has reached a deal to suspend the strike until Jan. 15 to provide time to negotiate a new contract.

Inflation in Europe falls below 2% and opens the way for faster rate cuts

Inflation in the 20 countries that use the euro fell to 1.8% in September, below the European Central Bank’s target of 2% for the first time in more than three years.

Japan’s central bank survey underpins optimism about growth

Business sentiment among Japan’s large manufacturers stood unchanged in the latest quarter from the previous quarter, according to a closely watched survey called “tankan.”

The US could see shortages and higher retail prices if a dockworkers strike drags on

U.S. ports from Maine to Texas are closed due to a strike by the union representing about 45,000 dockworkers.

Takeaways from AP’s report on how shrimp farmers are exploited as supermarkets push for low prices

An investigation focused on three of the world’s largest shrimp producers claims that as big Western supermarkets make windfall profits, their aggressive pursuit of ever-lower wholesale prices is causing misery for people on the bottom end of the supply chain.

Fed’s favored inflation gauge shows cooling price pressures, clearing way for more rate cuts

The Federal Reserve’s preferred inflation measure provided the latest sign that price pressures are easing, a trend that is expected to fuel further Fed interest rate cuts.

Richmond Fed president urges caution on interest rate cuts because inflation isn’t defeated

A Federal Reserve official says he supports reducing the central bank’s key interest rate somewhat from its current level.

US economy grew at a solid 3% rate last quarter, government says in final estimate

The American economy expanded at a healthy 3% annual pace from April through June, boosted by strong consumer spending and business investment, the government said, leaving its previous estimate unchanged.

Why diners are skipping restaurants and making more meals at home

Eating in is in and eating out is out. That’s the message that inflation-squeezed consumers have been sending to fast-food companies and other restaurants.

Trump calls for 100% tariffs on cars made in Mexico as part of US manufacturing plan

Donald Trump has pledged to stop U.S. businesses from shipping jobs overseas and to take other countries’ jobs and factories by relying heavily on sweeping tariffs.

The Fed sees its inflation fight as a success. Will the public eventually agree?

With its larger-than-usual half-point cut to its key interest rate last week, the Federal Reserve underscored its belief that it’s all but conquered inflation after three long years.

Bank of England keeps its main interest rate on hold at 5% in wake of big US Fed rate cut

The Bank of England is keeping its main interest rate unchanged at 5% despite a big cut from the U.S.

Text of the policy statement the Federal Reserve released Wednesday

WASHINGTON (AP) — Below is the statement the Federal Reserve released Wednesday after its latest policy meeting ended:

What the Fed’s rate cut could mean for you

The Federal Reserve has cut its benchmark interest rate from its 23-year high, with consequences for debt, savings, auto loans, mortgages and other forms of borrowing by consumers and businesses.

The Bank of England is widely expected to hold interest rates as inflation stays above target

The Bank of England is widely expected to keep interest rates unchanged after official figures showed Inflation in the U.K. holding steady at an annual rate of 2.2% in August, with higher airfares offset by lower fuel costs and restaurant and hotel bills.

Federal Reserve signals end to inflation fight with a sizable half-point rate cut

The Federal Reserve cut its benchmark interest rate by an unusually large half-point, a dramatic shift after more than two years of high rates that helped tame inflation but also made borrowing painfully expensive for consumers.

Will the Federal Reserve cut interest rates fast enough to deliver a ‘soft landing’?

American consumers and home buyers, business people and political leaders have been waiting for months for what the Federal Reserve is poised to announce this week: That it’s cutting its key interest rate from a two-decade peak.

US consumer sentiment ticks higher for second month but remains subdued

Americans’ outlook on the economy improved for the second straight month in September, bolstered by lower prices for long-lasting goods such as cars and furniture.