Despite a three-month annualized top-line inflation pace of 1.8% and a six-month rate of 3.3%, prices in the service sector, which comprises 62% of the overall index, increased by 5% on a year-ago basis. … READ MORE >
Inflation
U.S. income and spending see strong gains as year nears an end
November had a 0.4% increase in nominal income and spending, while inflation-adjusted spending advanced at a 0.3% pace, according to Commerce Department data released on Friday. … READ MORE >
Consumer confidence ends the year on a positive note
The increase in confidence was broad-based in December, with the overall index rising to 110.7 from 101. … READ MORE >
Inflation in Canada stayed steady at 3.1%
Food and housing remain primary drivers of inflation. On a year-over-year basis, mortgage interest costs spiked by a whopping 29.7%—the largest contributor to inflation. … READ MORE >
Fed signals end of rate hikes and projects cuts in 2024
The Federal Reserve signaled at its meeting on Wednesday that it is done raising its policy rate and is poised to reduce it by 75 basis points next year, with more cuts after that. … READ MORE >
U.S. November Consumer Price Index: Inflation continues to abate
Inflation continued to abate in November as energy prices declined by 2.3% and gasoline prices dropped by 6%, resulting in a 0.1% monthly advance in the CPI. … READ MORE >
U.S. November jobs report: This is what a soft landing looks like
Through November this year, the American economy has produced 2.58 million jobs as inflation has eased from 6.4% to 3.2% all while the unemployment rate has remained below 4%. … READ MORE >
FOMC preview and the logic of Fed rate cuts in 2024
After nearly two years of raising the federal funds policy rate to restore price stability, the Federal Reserve is poised to all but declare that campaign to be over at its meeting next week. … READ MORE >
Bank of Canada holds at 5% as excess demand is stomped out
With the economy having contracted in the third quarter, the Bank of Canada on Wednesday shifted its tone on monetary policy from hawkish to neutral as it held its policy rate steady at 5 per cent. … READ MORE >
U.S. economic outlook: Expansion continues into 2024
Expect the economy to settle into its long-term growth rate of around 1.8% next year. Read our forecasts for growth, inflation, unemployment, the dollar, interest rates and fiscal policy. … READ MORE >