Prices
Inflation is still soaring — but here’s why it’s less likely to hurt some retirees
Inflation has continued to rise, but some retirees won’t feel the brunt of many soaring costs, experts say. Annual inflation jumped by 9.1% in June, growing at the fastest pace since late 1981, the U.S. Department of Labor reported Wednesday. Higher prices have many worried, even those earning six figures. Some 65% of Americans making […]
Read More
Inflation jumped by 9.1% in June, the fastest since 1981. How does your ‘personal inflation rate’ compare?
Grocery shopping in Rosemead, California on April 21, 2022. Frederic J. Brown | Afp | Getty Images Inflation jumped to a new 40-year high in June, the U.S. Bureau of Labor Statistics reported Wednesday. That means the prices Americans pay at the gas pump, grocery store and elsewhere have been rising much faster than normal this year. That […]
Read More
How are rising costs impacting your household? Here’s how to calculate your personal inflation rate
Skynesher | E+ | Getty Images It’s likely no surprise to hear that prices have been rising across the U.S. economy, whether at the grocery store or the gas pump. But just how much have your personal household costs increased, and how does that stack up against the average American’s? Calculating your personal inflation rate […]
Read More
Goldman slashes GDP forecast for the second quarter to just barely above water
A Goldman Sachs Group Inc. logo hangs on the floor of the New York Stock Exchange in New York, U.S., on Wednesday, May 19, 2010. Daniel Acker | Bloomberg | Getty Images Amid heightened concerns that a recession is looming, Goldman Sachs economists expect that the U.S. economy barely grew in the second quarter. The […]
Read More
European markets close 2% higher; UK’s Johnson resigns as prime minister
LONDON — European stocks closed sharply higher on Thursday, building on gains in the previous session. The pan-European Stoxx 600 provisionally closed up 2%, with mining stocks jumping 5.6% to lead gains while food and beverages stocks dropped 0.1%. In terms of individual share price movement, Danish shipping giant Maersk climbed 7.1% on the back […]
Read More
Euro continues to slide toward dollar parity — and could fall even further
A financial trader monitors data as a television shows euro currency banknotes at the Frankfurt Stock Exchange in Germany. Martin Leissl | Bloomberg | Getty Images The euro dropped below $1.02 this week, continuing its slide to new 20-year lows and potential parity with the U.S. dollar. The euro traded as low as $1.0165 on […]
Read More
Malaysia fuel subsidies offer some reprieve from inflation, says economist
Malaysia is in an “enviable” position because fuel subsidies have shielded households from higher oil prices, according to an economist. “Even though we’re seeing this acceleration in inflation, and we’re going to see higher inflation going forward, particularly into the second half … households have in some way been shielded because of these fuel subsidies,” […]
Read More
Switzerland surprised markets with a rate hike. But Japan could cause a much more violent reaction
Japan’s national flag flies atop the Bank of Japan building on November 12, 2019 in Tokyo, Japan. Tomohiro Ohsumi | Getty Images Japan’s central bank is nearing an inflection point. It comes as policymakers around the world scramble to tighten monetary policy in an effort to rein in record-high inflation. The Swiss National Bank was […]
Read More
There’s a battle over inflation-linked pay adding to European port contagion
The growing congestion at ports in Germany and the Netherlands, which could delay car and furniture shipments to the U.S. for weeks, shows no signs of clearing up as the latest round of labor negotiations between the Central Association of German Seaport Companies (ZDS) and ver.di, the German labor union, ended with no agreement. A […]
Read More
Fed sees ‘more restrictive’ policy as likely if inflation fails to come down, minutes say
Federal Reserve officials in June emphasized the need to fight inflation even if it meant slowing an economy that already appears on the brink of a recession, according to meeting minutes released Wednesday. Members said the July meeting likely also would see another 50- or 75-basis point move. A basis point is one one-hundredth of […]
Read More