labor department
Inflation worsened last month to 3.7% in sign that prices remain elevated as midterm elections near
WASHINGTON | U.S. inflation accelerated last month as gas, clothes, and air fares got more expensive, evidence that rising prices remain an economic challenge just a few weeks before the midterm elections. The consumer price index rose 3.7% in September compared with a year ago, the Labor Department said Wednesday, up from 3.4% in August. […]
Americans’ view of the economy sinks to the lowest level since 2014, Conference Board survey says
WASHINGTON | Americans’ confidence in the economy sank to the lowest level in more than a decade this month as prices remain elevated and wages stagnate amid the ongoing Iran war. The Conference Board said Tuesday that its consumer confidence index tumbled 6.7 points to 81.9 in September, down from 88.6 in August. That’s the […]
Americans’ view of the economy sinks to the lowest level since 2014, Conference Board survey says
WASHINGTON | Americans’ confidence in the economy sank to the lowest level in more than a decade this month as prices remain elevated and wages stagnate amid the ongoing Iran war. The Conference Board said Tuesday that its consumer confidence index tumbled 6.7 points to 81.9 in September, down from 88.6 in August. That’s the […]
Claims for unemployment benefits drop to 197,000, the lowest since mid-July as layoffs remain rare
WASHINGTON | Fewer people applied for U.S. unemployment benefits last week, as U.S. jobless claims remain at historically low levels and most Americans enjoy job security. The Labor Department said Thursday that 197,000 applied for unemployment checks last week, the fewest since mid-July and down from a revised 198,000 the week before. The four-week average […]
US inflation accelerated last month as gas prices spiked, squeezing Americans’ finances
WASHINGTON | U.S. inflation accelerated last month as gas prices spiked in the wake of renewed fighting in the Middle East, underscoring the affordability challenges that are top of mind for many voters with midterm elections now just seven weeks away. The consumer price index rose 3.4% last month compared with a year ago, the […]
US wholesale prices rise in latest sign of stubborn inflation as oil prices continue to climb
WASHINGTON | Wholesale inflation picked up last month after cooling earlier this summer as higher oil and gas prices stemming from the Iran war keep costs elevated. The Labor Department’s producer price index — which captures inflation before it reaches consumers — rose 5.4% in August from a year ago, up from 4.8% in July, […]
Wholesale price inflation slows last month as gas, food costs fall
WASHINGTON | Wholesale inflation dropped last month as gas prices reversed some of their Iran war spike and other costs also cooled, a sign that consumer inflation could grind lower in the months ahead. The Labor Department’s producer price index — which captures inflation before it reaches consumers — rose 4.7% in July from a […]
Inflation cooled last month as gas prices fell, though costs remain elevated
WASHINGTON | U.S. inflation slowed last month and a measure of underlying price pressures also cooled, suggesting higher oil and gas prices from the Iran war are only having a limited impact on broader costs in the economy. Consumer prices rose 3.4% in July from a year ago, down slightly from 3.5% in June, the […]
Inflation cools more than expected in June as gas costs fall, underlying prices ease
WASHINGTON | U.S. inflation cooled last month as the cost of gas, clothes, and used cars fell, providing some relief to consumers, while underlying price pressures also cooled more than expected. Prices dropped 0.4% from May to June, the largest monthly drop in four years, the Labor Department said Tuesday. On a yearly basis, inflation […]
Inflation likely reached 3-year high last month as Iran war spikes gas prices
WASHINGTON | Consumer prices probably jumped in May for the third straight month, heightening concerns for the inflation fighters at the Federal Reserve and underscoring the threat that rising costs pose for the Trump administration as midterm elections near. Inflation is expected to reach 4.2% in May from a year earlier when the Labor Department […]