Louis Alvarez | digitalvision | Getty Images Inflation is hovering near 40-year highs. The Consumer Price Index, a key inflation metric, increased 8.3% in April from a year ago, the largest jump since the summer of 1982, the US Department of Labor said Wednesday. While a slight reduction from the 8.5% rate in March, the […]
photo: AP (AP) canoe, an EV startup that some guy named Jason eleven had very high hopes for, said tuesday that it is worried about its future. This is sad news because, like Jason, I once was pretty hopeful about Canoo, too, which wanted to make what was more or less the anti-Cybertruck. My colleague […]
Check out what’s clicking on FoxBusiness.com. Sen. Rick Scott, R-Fla., is calling for President Biden’s resignation in light of a new Bureau of Labor Statistics report showing a Consumer Price Index increase of 8.3% over the past 12 months. In a statement released Wednesday morning, Scott blamed the Biden administration’s agenda of high government spending […]
one Russia is prepared for a “prolonged” war, a US official warned. Who said this? Avril Haines, the nation’s top intelligence official. She predicted that what happens in the next month or two in Ukraine will be significant. What else to know: The US House approved $40 billion in more aid for Ukraine yesterday. The […]
FREDERIC J. BROWNGetty Images We can’t possibly be doing this again, right? From CNBC: “Despite a slow start to this year’s spring home buying season, prospective buyers are showing some resilience to higher rates. Purchase activity has now increased for two straight weeks,” said Joel Kan, an MBA economist, in a release. “More borrowers continue […]
Sen. John Barrasso rips Biden’s blame game on record-high inflation on ‘Kudlow.’ Year-over-year April inflation numbers released Wednesday, at 8.3%, are just the latest sign that Democrats are in for a challenging midterm election, experts say, with economic issues likely to dominate the ballot box. “Republicans certainly have an opening,” James Wallner, a senior fellow […]
Data: CME; Chart: Axios Visuals Lumber prices are falling again, thanks to a big rejigger on both sides of the supply-and-demand equation. Why it matters: The price of lumber has come to symbolize our wild ride with inflation and supply chain problems over the past year or so. What’s happening: The industry adjusted to the […]
The consumer price index came in hotter than expected in April, but the CPI inflation rate finally began to pull back from the highest level in 40 years. Stocks sold off after CPI report, then fought back, with the Dow Jones solidly higher in Wednesday morning stock market action. X The CPI rose 0.3% from […]
Inflation moderated on an annual basis for the first time in months in April, but the 8.3 percent annual Consumer Price Index increase remained uncomfortably rapid — and a closely watched index that subtracts volatile food and fuel costs actually accelerated. The takeaway was that the pressures that have kept inflation elevated for months remain […]
WASHINGTON — Inflation slowed in April after seven months of relentless gains, a tentative sign that price increases may be peaking while still imposing a financial strain on American households. Consumer prices jumped 8.3% last month from 12 months earlier, the Labor Department said Wednesday. That was below the 8.5% year-over-year surge in March, which […]