The government said nearly all of July’s inflation reflected higher rental prices and other housing costs, a trend that, according to real-time data, is easing.
inflation
Posted inBusiness
Americans’ refusal to keep paying higher prices may deal final blow to inflation
The reluctance of consumers to keep paying more has forced companies to slow their price increases – or even to cut them. The result is a cooling of inflation pressures.
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Food companies feel the pain as consumers reject higher prices
Faced with revenue and unit sales declines in recent months, snack giants PepsiCo and Conagra confront the reality of “value-seeking behavior.”
Posted inBusiness, Nation & World
U.S. inflation cools again, potentially paving way for Fed to cut interest rates soon
In a better-than-expected report, consumer prices declined 0.1% from May to June – the first monthly decline in overall inflation since May 2020.
Posted inBusiness, Nation & World, News
Fed’s Powell highlights slowing job market in signal that rate cuts may be nearing
Chair Jerome Powell’s written testimony Tuesday marked a shift in emphasis away from the Fed’s single-minded fight against inflation that suggests it’s moving closer to cutting interest rates.
Posted inBusiness
Fed chair: U.S. inflation cooling again, though it isn’t yet time to cut rates
If the Fed cuts rates too soon, inflation could re-accelerate. But if it waits too long to reduce borrowing costs, it risks weakening the economy so much as to potentially cause a recession.
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Federal Reserve’s favored inflation gauge slows, supporting case for cut
At the same time, household spending rebounded, and incomes showed solid growth, offering some hope that price pressures can be tamed without lasting damage to consumers.
Posted inBusiness, Nation & World, News
Federal Reserve sees progress on inflation but envisions just 1 rate cut this year
The policymakers said the economy is growing at a solid pace, while hiring has ‘remained strong’ and there has been ‘modest’ further progress toward its 2% inflation target.
Posted inBusiness, Nation & World, News
Inflation pressures lingering from pandemic are keeping Fed rate cuts on pause
In the U.S., a big reason why inflation remains above the Fed’s target is that distortions stemming from the pandemic are still keeping prices elevated.
Posted inBusiness, Nation & World, News
Major retailers are offering summer deals to entice inflation-weary shoppers
Target, Walmart and other chains have rolled out price cuts – some permanent, others temporary – with the stated aim of giving their customers some relief.