Inflation, federal reserve
Digest more
Inflation, Bank of England
Digest more
Sterling, inflation and Data
Digest more
Federal Reserve Chair Jerome Powell said that recent data point to less concern that new White House tariffs will lead to a spiral of higher inflation. "The case for there being a persistent inflation outbreak is less,
The 12-month inflation rate edged up to 2.9 percent in August, according to data released last week by the Department of Labor.
Inflation accelerated in August as Americans paid more for gasoline and groceries. Over the last 12 months, consumer prices have risen 2.9%.
A YouGov poll, released earlier this month, found inflation as the reigning issue among all Americans. According to the poll, respondents — including Democrats, independents and Republicans — were most likely to name inflation and prices, at 24%, as well as jobs and the economy, at 14%, as their most important issues.
6don MSN
Rising inflation and a deteriorating job market puts the Fed and Americans in a difficult spot
Inflation rose last month as the price of gas, groceries, and airfares jumped, while a measure of layoffs also increased, putting the Federal Reserve in a tough spot as it prepares to cut rates at its meeting next week despite persistent price pressures.
British inflation in August held at 3.8%, official data showed on Wednesday, the highest among major advanced economies and reinforcing expectations that the Bank of England will not cut interest rates until next year.
Ghana’s central bank is set to deliver another supersized interest-rate cut as inflation is expected to return to its target range before year-end.