Inflation climbed 8.5% in July as prices cool but remain near record high

  • August 10, 2022
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The Labor Department said Wednesday that the consumer price index rose 8.5% in July from a year ago, below the 9.1% year-over-year surge recorded in June.

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US economy adds 528,000 jobs in July, surging past expectations

  • August 5, 2022
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U.S. job growth unexpectedly accelerated in July, defying fears of a slowdown in hiring even as the labor market confronts the twin threats of scorching-hot inflation and rising interest rates. Employers added 528,000 jobs in July, the Labor Department said in its monthly payroll report released Friday, blowing past the 250,000 jobs forecast by Refinitiv economists.

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Fed raises interest rates by 75 basis points in historic move to battle inflation

  • July 27, 2022
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The Federal Reserve on Wednesday raised its benchmark interest rate by 75 basis points for the second straight month as it tries to bring scorching-hot inflation under control, a move that threatens to slow U.S. economic growth and exacerbate financial pressure on Americans. The three-quarter percentage point hikes in June and July – the first

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June retail sales climb more than expected as Americans confront searing-hot inflation

  • July 15, 2022
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Americans ramped up their spending at retail stores in June, a sign that consumers are still opening their wallets even as inflation persists at a 40-year high. Retail sales, a measure of how much consumers spent on a number of everyday goods, including cars, food and gasoline, rose 1% in June from the prior month,

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Inflation spikes more than expected, hits new 40-year high

  • July 13, 2022
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Inflation accelerated to a new four-decade high in June as the price of everyday necessities remains painfully high, exacerbating a financial strain for millions of Americans and worsening a political crisis for President Biden.

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US economy added 372,000 jobs in June, beating estimates; unemployment rate holds at 3.6%

  • July 8, 2022
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The U.S. labor market remained solid in June as hiring paced ahead of expectations. U.S. employers added 372,000 jobs during the month compared with 390,000 in the prior month signaling inflation is having a limited impact on hiring thus far. The unemployment rate held steady at 3.6% for the third month in a row. Industries leading

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U.S. stocks close out the worst week since the pandemic.

  • June 17, 2022
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The Nasdaq Composite and S&P 500 led a mixed market Friday, while the Dow Jones Industrial Average pulled back as investors wrapped the worst stretch since the pandemic amid inflation and recession fears. In commodities, oil fell 9.2% to $109.56 per barrel for the week.

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Retail sales drop in May as inflation spooks shoppers

  • June 15, 2022
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May retail sales unexpectedly decline as consumers confront sizzling hot inflation.  Economists expected retail sales to rise modestly in May, despite sky-high inflation. Retail Sales -0.3 vs 0.2 Ex Autos 0.5 vs 0.8 Import Prices MOM 0.6 vs 1.1 Empire MFG -1.2 vs 3

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Wholesale inflation climbs 10.8% in May

  • June 14, 2022
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The Labor Department said Tuesday that its producer price index, which measures inflation at the wholesale level before it reaches consumers, climbed 10.8% in May from the previous year. On a monthly basis, prices grew by 0.8%.

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Inflation surges by most in 13 years as energy prices spike

  • October 13, 2021
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U.S. consumer prices last month accelerated at their fastest annual pace in 13 years as energy prices surged. The consumer index price index rose 5.4% year over year in September, according to the Labor Department, matching the July reading for the hottest print since 2008. Prices increased 0.4% month over month. Analysts surveyed by Refinitiv

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