Inflation is outpacing wage growth again, squeezing Americans’ paychecks
In August, consumer prices rose 3.4% over the past year while wages increased just 3.1%.
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In August, consumer prices rose 3.4% over the past year while wages increased just 3.1%.
Russia’s full-scale war in Ukraine cost Poland an estimated €113.4 billion between 2022 and 2025, according to Statistics Poland. The losses include reduced economic output, higher inflation, lower real wage growth, and increased defense and Ukraine-related spending.
Gas prices are high, mortgage rates are climbing and inflation remains well above target, complicating the president’s midterm appeal.
The ECB’s decision was largely priced in before it was announced, but mortgage rates could rise further across the eurozone’s biggest economies as banks respond to persistent inflation and elevated market rates.
With the budget looming, arguments rage over whether ministers should scrap a pledge popular with millionsThere were fresh calls this week for the state pension “triple lock” to be ditched as debate rages over whether the UK can afford it.The triple lock guarantees that the state pension goes up each year in line with inflation or wage increases or 2.5% – whichever is the highest. Continue reading...
As inflation continues to run hotter than the Federal Reserve’s 2% annual target rate, Social Security beneficiaries are…
Social Security beneficiaries could see a 3.5 per cent-3.6 per cent COLA increase in 2027, with estimates varying among analysts and groups. The official adjustment will depend on September inflation data, with the Social Security Administration expected to announce it in October.
Austrian central bank governor Martin Kocher says risk of elevated inflation is higher than it was a few months ago
The odds of a quarter-point rate increase at the Federal Reserve’s meeting next week surged to 90 percent after August’s Consumer Price Index report.
Does he not understand, or does he just not care?
Gold prices firmed over 1 percent on Friday, rebounding from recent losses and finding a short-term floor despite strong U.S. inflation data bolstering expectations of an interest rate hike by the Federal Reserve next week. Spot gold rose 1.2 percent to $4,366.69 per ounce by 11:22 a.m. EDT (1522 GMT). The metal, however, was down about 1.4 percent for the week so far. "Gold is recovering rapidly after a brief dip, as CPI data may be cementing expectations of a Fed rate hike next week. The volatility is somewhat muted, as market had a hike 70 percent priced in," said Tai Wong, an independent metals trader. "Price action here suggests that gold is finding a short-term base after the recent retreat." U.S. gold futures gained 0.1 percent to $4,409.30. Prices fell nearly 2 percent on Thursday after the U.S. Producer Price Index data showed prices increased in line with expectations in August. The Consumer Price Index increased 0.4 percent last month after edging up 0.1 percent in July, the labor department's Bureau of Labor Statistics said on Friday. Oil prices fell on Friday, but remained on c
The record price of diesel threatens to stoke inflation at a time when consumers are already price-sensitive and businesses are reeling from higher costs due to trade tensions. Why it matters: Diesel is a key cost throughout the supply chain, meaning soaring prices could eventually show up in what consumers pay for everything from groceries to household goods.Driving the news: The national average price of a gallon of diesel topped $6 for the first time ever, AAA said Friday, Axios' Ben Berkowitz reports.That's up 60% from a year earlier.Between the lines: Food prices could be among the first places consumers feel the ripple effects, executives said this week.At grocery chain Kroger, which has been trying to keep a lid on prices: "I would expect that the pressure is actually going to mount," CEO Greg Foran said Friday on an earnings call.At pork producer Smithfield Foods: "That impact is beginning to flow through in the second half of the year," CFO Mark Hall said Thursday.At Hormel Foods: "With the Iran war and the spike in diesel costs, that's been something we've had to confront," interim CEO Jeffrey Ettinger said Wednesday.But the effects extend well beyond food.For example, at Newell Brands — whose portfolio includes Rubbermaid, Sharpie and Coleman — the inflationary impacts of energy costs have far exceeded the company's initial estimates."It's either resin, which is obviously dependent on the price of oil, or it is direct transportation costs, i.e., diesel," CFO Mark Erceg said Tuesday.The big picture: Energy prices have spiked since President Trump launched the war with Iran, which prompted the closure of the Strait of Hormuz, a key shipping lane.The latest Energy Information Administration outlook expects retail diesel to average $4.40 a gallon in 2027, up 33 cents, or 8.2%, from its previous forecast of $4.07, Axios' Rebecca Falconer and Ben Geman reported.The average price of unleaded gasoline has also spiked, rising by $1.11 over the last year to $4.30 per gallon as of Friday, according to AAA.By the numbers: 47 of the 50 states have experienced an increase in average diesel prices of more than $2 per gallon over the last year, according to GasBuddy analyst Patrick De Haan.The economy is facing an extra $300 million in diesel costs every 24 hours.California is poised to become the first state with average diesel prices above $8 — with many stations already above $9, according to GasBuddy.The bottom line: Record diesel prices are turning the energy shock into a broader cost shock for businesses and consumers.
NEW YORK — U.S. stocks are rebounding Friday and clawing back much of their losses for the week after oil prices eased off their recent spurt. An update on inflation across the United States that came in close to economists’ expectations, even if prices are still rising too quickly for everyone's liking, also helped calm the market. The S&P 500 climbed 1 percent and was on track to break a four-day losing streak, its longest since June. The Dow Jones Industrial Average was up 479 points, or 0.9 percent, as of 10:30 a.m. Eastern time, and the Nasdaq composite was 1.2 percent higher. They got help from a pullback in oil prices, which had jumped to their highest levels since May because of the ongoing war with Iran. The price for a barrel of Brent crude, the international standard, fell 2.5 percent to $104.93 after getting near $110 overnight. That took a bit of pressure off inflation, which remains stubbornly high. A report on Friday showed that U.S. consumers had to pay prices for gasoline, food and other costs of living that were 3.4 percent higher last month than a year earlier. Whi
Stubborn inflation, corporate demand for capital and big public debts are squeezing holders of government bonds
The Labor Department’s consumer price index held steady last month, rising as expected for the year ending in August.
The cost of diesel hit $6 a gallon for the first time ever this week. It could be another blow to consumers already feeling the sting of high inflation.
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The latest data suggest inflation by the Fed's targeted measure, above the target 2% for 5-1/2 years, is again moving in the wrong direction.
A driver refuels a vehicle at a Chevron gas station in Miami, Florida, Sept. 3, 2026. Zak Bennett/Bloomberg…
Resilient start to third quarter comes as surging oil price reignites inflation fears
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Stubborn inflation, corporate demand for capital and big public debts are squeezing holders of government bonds
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 percent last month compared with a year ago, the Labor Department said Friday, just like July. But inflation quickened month to month as costs jumped 0.4 percent from July, quadrupling the 0.1 percent registered in the previous month. Inflation remains stubbornly elevated more than five years after prices soared as the economy emerged from the pandemic. Friday's report increases pressure on the inflation-fighters at the Federal Reserve to boost their benchmark interest rate next week, which could lift mortgage and auto loan costs in the months ahead. Federal Reserve Chair Kevin Warsh and other Fed officials have signaled they would need to see continuing disinflation to leave rates where they are. "Today’s August report did not deliver that,” said Kathy Bostjancic, chief economist at Nationwide. Price
Price for the crop dropped dramatically this summer after the cyclospora outbreak caused demand to wiltAt the Republicans’ midterm convention held earlier this week, Donald Trump said that “food prices and almost every other item are rapidly going down”. Fresh inflation data on Friday told a different story – but in one specific case, costs have been chopped.The price of lettuce dropped dramatically this summer after the cyclospora outbreak caused demand to wilt, with prices dropping even further in August, according to new data released on Friday. Continue reading...
Inflation remained stubbornly elevated at 3.4% in August at the end of a week of surging oil prices
US consumer prices rose 3.4% in the year to August, unchanged from July and exactly in line with expectations, but the monthly increase of 0.4% was the sharpest since May, a sign the energy shock is starting to bite four days before a Federal Reserve decision markets expect will deliver a rate hike.
Sen. Ted Cruz (R-Texas) has suggested the giveaway could be "structured as a tax refund" for working Americans.
Wall Street is on track on to break a four-day losing streak.
The Centers for Disease Control and Prevention declared the Cyclospora outbreak related to Taylor Farms lettuce over Friday, though the Food and Drug Administration says its investigation remains ongoing.The big picture: Thousands of people fell ill as the outbreak rapidly surged throughout the country this summer as federal authorities searched for its origin amid a backdrop of overlapping food safety investigations.Driving the news: "This outbreak has ended. The number of recent infections linked to the outbreak has significantly declined," the CDC said in a Friday update, noting the "contaminated lettuce linked to this outbreak is no longer available in stores or restaurants."This is a breaking news story and will be updated.
Next week’s decision remains a close call, but there is little sign in the inflation data of continued disinflation
U.S. inflation accelerated last month as gas prices spiked in the wake of renewed fighting in the Middle East, underscoring the affordability challenges among American voters.
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explicare.deThe price of U.S. diesel fuel hit to a new high over mounting fears that fighting in the Middle East could further threaten oil supplies.
Inflation overall in August rose by 0.4% month-over-month to an annual rate of 3.4%, which was unchanged from July.
Korea's economy continues to show solid signs of recovery, supported by robust exports and improving domestic consumption, the finance ministry said Friday. The Ministry of Finance and Economy offered the assessment in its monthly economic report, known as the Green Book, maintaining its positive assessment from the August report while noting that uncertainties surrounding the war in the Middle East persist. "Recently, the South Korean economy has been showing solid signs of recovery, supported by a substantial increase in exports and improving domestic consumption," the report said. Korea's exports surged 68.7 percent in August from a year earlier, buoyed by strong semiconductor shipments. "However, as uncertainties related to the war in the Middle East have widened somewhat, pressure on people's livelihoods continues amid inflation caused by high oil prices and employment difficulties faced by vulnerable groups and sectors," it added. In August, Korea added 184,000 jobs from a year earlier, while the unemployment rate remained unchanged at 2 percent. The increase marked the largest gain
Annualized inflation rate was 3.4%, same as July, and core inflation, which omits energy and food prices, was up to 2.4%US consumer prices remained stubbornly high in August as the end of the ceasefire between the US and Iran pushed energy prices up, according to data from the US Bureau of Labor Statistics released on Friday.The annualized inflation rate was 3.4%, the same as it was in July. The most recent peak was seen in May, when the inflation rate hit a three-year high at 4.2%. Core inflation, which strips out volatile energy and food prices, increased to 2.4% in August. Continue reading...
The Consumer Price Index rose 3.4% on an annual basis, still stubbornly above the Fed’s 2% goal but the same rate as July, the Bureau of Labor Statistics said Friday. On a monthly basis, it rose at a 0.4% pace.
Oil near $100 could further squeeze leveraged private credit borrowers as investors weigh the risk that inflation could push interest rates higher again.
In recent weeks, the United States has succeeded in loosening Iran's grip over the Strait of Hormuz while virtually shutting down Iran's own oil exports, accelerating its economic free fall. But the war launched by the U.S. and Israel in February — intended to last a few weeks — is still far from over, and the stalemate is costly for both sides. An agreement reached in June quickly crumbled , with no sign of diplomatic progress since then. Low-level fighting persists, and the U.S. does not seem to have an exit strategy. The mounting economic pressure on Iran has yet to stoke an uprising, and if its leaders are backed into a corner, they may opt for military escalation rather than capitulation. Their Houthi allies in Yemen have meanwhile stepped up attacks on Saudi Arabia , helping to push oil prices back up. The price of a barrel of Brent crude, the international benchmark, surged above $100 this week, and diesel — heavily used in transport and farming — hit a record, potentially stoking inflation. U.S. President Donald Trump has acknowledged that gas prices are likely to stay h
Long-term European government bond yields remain close to multi-decade highs, as inflation and interest-rate concerns keep driving the sell-off.
Global interest rate hikes are predicted as oil prices spark inflation fears.
Insee has cut its 2026 growth forecast from 0.7% to 0.4%. After a weak first half, sluggish consumption, falling investment and rising inflation darken prospects for year-end.