Inflation declined by 0.3% in August for the second monthly decline in a row thanks to cooling gasoline and energy prices, according to data released by Statistics Canada on Tuesday. The consumer price index rose by 7.0% in August on a year-over-year basis, down from a 7.6% gain in July. The easing ... READ MORE >
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U.S. August CPI: Core inflation arrives hot even as gas prices fall
Premature calls for the Federal Reserve to pause or pivot on its campaign to tame inflation should be politely dismissed given the 0.1% increase in top-line inflation in August. That gain translates into a 8.3% year-over-year increase in the headline number, according to government data released ... READ MORE >
Falling gas prices imply further inflation relief
Retail gasoline prices in the United States are poised to continue their recent decline as the summer driving season ends and households fall back into more traditional schedules. The average retail gasoline price has declined to $3.78 per gallon from a peak of $5.01 on June 13—a 21.2% drop—and ... READ MORE >
How high must unemployment rise to tame inflation?
Restoring price stability is now the paramount policy goal at the Federal Reserve. Chairman Jerome Powell went out of his way on Friday to point out the lessons of the high inflation in the 1970s and 1980s, and the sacrifice it took to wring it out of the economy after years of delays. "Our aim is to ... READ MORE >
Spending remains steady on strong income growth and inflation relief
U.S. personal income and spending in July signaled a gradual rebound of the economy in the third quarter after six months of declines in gross domestic product. The catalyst was a combination of a tight labor market with steady wage income growth and a sharp drop in inflation on the back of falling ... READ MORE >
Inflation eases amid falling gasoline prices
After a year of consecutive increases, inflation has finally begun to ease, hitting 7.6% on a year-over-year in July amid declining gasoline prices. Compared to June, inflation went up by a modest 0.1%. Nonetheless, most measures of core inflation increased, which means inflation remains pervasive ... READ MORE >
Initial jobless claims rise as producer inflation deflates for first time in 2 years
New claims for U.S. jobless benefits rose 5.6% in the first week of August to 262,000 as layoffs continued to pick up, according to Labor Department data released on Thursday. While there has been a clear upward trend in new unemployment claims, the number remained relatively low compared to the ... READ MORE >
US July CPI: Inflation posts likely peak as commodity, gas and transportation prices fall
Commodity, oil, and gasoline prices declined noticeably in July, driving the pace of top-line inflation lower even as core inflation continued to increase at a torrid pace. This will provide a large boost to overall consumption and economic activity as Americans likely spent roughly $400 million less on ... READ MORE >
Job openings drop in June amid Fed’s attempt to control inflation
Job openings in the United States fell for the third straight month in June as the labor market started to loosen up, the Bureau of Labor Statistics reported on Tuesday. Job openings—which represent labor demand—have been the main target of the Federal Reserve to lessen the second-round impact on ... READ MORE >
American spending and income eroded by multi-decade high inflation
American consumer spending barely kept up with price gains in June as the Federal Reserve's key inflation gauge—the Personal Consumption Expenditure price index—reached a new multi-decade high, according to government data released Friday. Additionally, personal income declined for the first time since ... READ MORE >