Inflation sees sharpest increase on record – ONS

Inflation rose to 3.2% last month from 2% in July – its largest ever recorded increase – the Office for National Statistics (ONS) said. The consumer prices index (CPI) measure of inflation for August was the highest since March 2012 – though the ONS said much of the effect was likely to be temporary. That… Continue reading Inflation sees sharpest increase on record – ONS

White House welcomes inflation data, still concerned about U.S. housing prices

WASHINGTON (Reuters) – The Biden administration on Tuesday welcomed data showing that consumer prices increased at their slowest pace in six months in August as evidence that inflation would be transitory, citing a drop in auto prices and a deceleration in food price increases.FILE PHOTO: A general view of the White House in Washington, U.S.… Continue reading White House welcomes inflation data, still concerned about U.S. housing prices

China's factory inflation hits 13-year high as materials costs soar

BEIJING (Reuters) -China’s factory gate inflation hit a 13-year high in August driven by roaring raw materials prices despite Beijing’s attempts to cool them, putting more pressure on manufacturers in the world’s second-largest economy.FILE PHOTO: Employees work on the production line of American infant product and toy manufacturer Kids II Inc. at a factory in… Continue reading China's factory inflation hits 13-year high as materials costs soar

German inflation hits fresh 13-year high in August

BERLIN (Reuters) -Germany’s annual consumer price inflation accelerated to a fresh 13-year high in August, data showed on Monday, underlining growing price pressures as Europe’s largest economy recovers from the pandemic and companies struggle with supply shortages.FILE PHOTO: Shoppers wear mask and fill Cologne’s main shopping street Hohe Strasse (High Street) in Cologne, Germany, 12,… Continue reading German inflation hits fresh 13-year high in August

U.S. Consumer Price Growth Matches Economist Estimates In July

Reflecting higher prices for shelter, food, energy, and new vehicles, the Labor Department released a report on Wednesday showing consumer prices in the U.S. increased in line with economist estimates in the month of July. The Labor Department said its consumer price index climbed by 0.5 percent in July after jumping by 0.9 percent in… Continue reading U.S. Consumer Price Growth Matches Economist Estimates In July

A top Fed official says rate increases could be warranted in 2023.

Richard H. Clarida, the Federal Reserve’s vice chair, said in speech on Wednesday that if the economy meets his expectations, he thinks it will be healed enough by the end of next year for the Fed to start raising rates in 2023 — a meaningful statement coming from one of the highest-ranking members of the… Continue reading A top Fed official says rate increases could be warranted in 2023.

Biden dismisses inflation concerns even as consumer prices surge

Inflation is ‘here to stay’: Market expert Maglan Capital President David Tawil on his outlook for inflation, oil and cryptocurrencies. President Biden on Wednesday again downplayed concerns about the recent burst of inflation, maintaining that surging consumers prices are temporary even as he cautioned that restaurants and other businesses in the hospitality sector could take… Continue reading Biden dismisses inflation concerns even as consumer prices surge

Powell says the Fed is still a ways off from altering policy, expects inflation to moderate

Federal Reserve Chairman Jerome Powell said Wednesday the economy is "a ways off" from where it needs to be for the central bank to change policy. "Conditions in the labor market have continued to improve, but there is still a long way to go," he said, adding that inflation has "increased notably" due mostly to… Continue reading Powell says the Fed is still a ways off from altering policy, expects inflation to moderate

Mounting fears over inflation as CPI spikes AGAIN to 2.5%

Mounting fears over inflation as CPI spikes AGAIN to three-year high of 2.5% with fuel and food costs soaring amid warnings rate could be DOUBLE Bank of England’s target within months Headline CPI rate of inflation was 2.5 per cent in June up from 2.1 per cent in May  The level is highest in nearly… Continue reading Mounting fears over inflation as CPI spikes AGAIN to 2.5%

U.S. consumer prices post largest gain in 13 years

WASHINGTON (Reuters) -U.S. consumer prices increased by the most in 13 years in June amid supply constraints and a continued rebound in the costs of travel-related services from pandemic-depressed levels as the economic recovery gathered momentum.FILE PHOTO: People wearing protective masks shop at Macy’s Herald Square following the outbreak of the coronavirus disease (COVID-19) in… Continue reading U.S. consumer prices post largest gain in 13 years

Inflation surges as consumer prices leap 5.4 percent, biggest jump since 2008

More On: inflation Why we’re on the path to a ’70s-like inflation disaster Inflation fears hit record high in June, warns NY Fed Hokey holiday! White House mocked for pun-filled tweet claiming cheaper July 4 cookout Inflation expected to ratchet up back-to-school costs, survey says Inflation continued to surge in June, with consumer prices accelerating at… Continue reading Inflation surges as consumer prices leap 5.4 percent, biggest jump since 2008

U.S. consumer prices surge in June

WASHINGTON (Reuters) – U.S. consumer prices rose by the most in 13 years in June amid supply constraints and a continued rebound in the costs of travel-related services from pandemic-depressed levels as the economic recovery gathered momentum.FILE PHOTO: People wearing protective masks shop at Macy’s Herald Square following the outbreak of the coronavirus disease (COVID-19)… Continue reading U.S. consumer prices surge in June

Russian central bank says inflationary pressure remains high, but is easing

FILE PHOTO: Fruit, vegetables and berries are displayed for sale at the State Department Store, GUM, in central Moscow, Russia September 21, 2017. REUTERS/Sergei KarpukhinMOSCOW (Reuters) – EMBARGO 1730 GMTInflationary pressure remains high in Russia, the central bank said in a report on Monday, but there are signs that some pressure is easing and annual… Continue reading Russian central bank says inflationary pressure remains high, but is easing

The Markets Have Prospered. Why Are So Many People Worried?

The markets and the economy continue to reap the benefits of the recovery from the pandemic and its associated recession. For the most part, new cases of Covid-19 keep falling, and vaccinations, jobs and economic growth keep rising. For a long stretch, the stock market has been rising, too. After sending stocks to elevated valuations… Continue reading The Markets Have Prospered. Why Are So Many People Worried?

The Markets Have Prospered. Why Are So Many People Worried?

The markets and the economy continue to reap the benefits of the recovery from the pandemic and its associated recession. For the most part, new cases of Covid-19 keep falling, and vaccinations, jobs and economic growth keep rising. For a long stretch, the stock market has been rising, too. After sending stocks to elevated valuations… Continue reading The Markets Have Prospered. Why Are So Many People Worried?

Stock Takes: Inflation is coming. What to look out for when prices rise

Inflation is coming. Results of this week’s NZIER Quarterly Survey of Business Opinion added to a growing list of leading indicators that have pointed to inflation picking up. “The increase in both costs and prices points to rising inflation pressures, which is underpinning expectations of interest rate increases from the Reserve Bank over the coming… Continue reading Stock Takes: Inflation is coming. What to look out for when prices rise

A Great Inflation Redux? Economists Point to Big Differences.

The last time big government spending, supply chain shocks and rising wages threatened to keep inflation meaningfully higher, President Biden’s top economic adviser was in diapers. Jump forward half a century, and some aspects of 2021 look a little bit like a do-over of the late 1960s and the 1970s, which many economists think laid… Continue reading A Great Inflation Redux? Economists Point to Big Differences.

Surging inflation could derail economic recovery from pandemic, IMF warns

Inflation a ‘risk’ to economic recovery: Former Fed official Former Federal Reserve Board nominee Judy Shelton argues rising inflation and inaction from the Fed will keep the economy from fully recovering. Surging inflation, particularly in the United States, has emerged as a new threat to the global economy as it faces a "worsening two-track recovery"… Continue reading Surging inflation could derail economic recovery from pandemic, IMF warns

European Commission sees the economy recovering faster than expected.

The European Commission said Wednesday that successful vaccination drives and government stimulus will allow the eurozone economy to make up the ground lost because of the pandemic by the end of the year, instead of early next year as previously forecast. The commission, the European Union’s administrative arm, said in its official summer forecast that… Continue reading European Commission sees the economy recovering faster than expected.

Inflation looks bad now, but it's pretty much sticking to the script

In the view of some quarters, inflation is following the script, rising due to one-off bottlenecks and the product of a distorted comparison to a year-ago period. The personal consumption expenditures core index – excluding food and energy costs – rose 3.4% in May on a year-over-basis, in line with Wall Street expectations but also… Continue reading Inflation looks bad now, but it's pretty much sticking to the script

Supply chain pressures are still a problem due to workforce shortages, manufacturing group says

Supply chain disruptions and inflated prices are not abating yet, National Association of Manufacturers CEO Jay Timmons told CNBC on Thursday. "We're seeing rising cost pressures" due to workforce shortages and demand exceeding supply, he said. "What that's doing is it's causing bottlenecks in a lot of the supply chain for manufacturers who make the… Continue reading Supply chain pressures are still a problem due to workforce shortages, manufacturing group says

U.S. Import Prices Jump More Than Expected Amid Spike In Fuel Prices

Reflecting a jump in fuel prices, the Labor Department released a report on Wednesday showing U.S. import prices increased by more than expected in the month of May. The Labor Department said import prices jumped by 1.1 percent in May after climbing by an upwardly revised by 0.8 percent in April. Economists had expected import… Continue reading U.S. Import Prices Jump More Than Expected Amid Spike In Fuel Prices

U.S. Producer Price Growth Reaches Record High In May

A report released by the Labor Department on Tuesday showed producer prices in the U.S. increased by more than expected in the month of May, with the annual rate of growth reaching a record high. The Labor Department said its producer price index for final demand advanced by 0.8 in May after climbing by 0.6… Continue reading U.S. Producer Price Growth Reaches Record High In May

Inflation spike could force Fed's hand on tapering asset purchases

How to protect your portfolio against inflation Orion Advisor Solutions chief invest strategist Rusty Vanneman shares his market predictions. A key inflation gauge that revealed consumer prices rose at their fastest pace in decades last month could prompt the Federal Reserve to start laying the groundwork to begin curtailing its massive monetary support to the… Continue reading Inflation spike could force Fed's hand on tapering asset purchases