A customer shops at a Safeway store on June 11, 2024 in Mill Valley, California. Justin Sullivan | Getty Images The rate of price increases for food has subsided in recent months, according to the latest government inflation data. However, shoppers still report feeling burdened by the prices they’re seeing in the grocery store aisles. … Read more
(NewsNation) — U.S. home sales in May dropped to the third-lowest level in a decade as homebuyers continue to face elevated mortgage rates, record-high prices and low inventory. Last month, 407,959 homes were sold, down roughly 3% from a year ago, according to real estate brokerage Redfin. To put that in perspective, only two months … Read more
The balmy days of dovish monetary policy that fuelled a rally in emerging-market bonds looks to be over as central banks across the developing world turn more hawkish. Returns from emerging-market local-currency debt are trailing their dollar-denominated peers by the most in two years as resurgent inflation has damped the prospect of further interest-rate cuts … Read more
Elevated U.S. interest rates are pressuring the U.S. retail sector, where shares of many companies have been dented by months of tight monetary policy while a select few have soared. The S&P 500 Consumer Discretionary Distribution & Retail index is up nearly 14% this year, roughly keeping pace with the S&P 500’s year-to-date gain. Much … Read more
Taylor Swift performs on stage during during “Taylor Swift | The Eras Tour” at Anfield on June 13, 2024 in Liverpool, England. Gareth Cattermole/tas24 | Getty Images Entertainment | Getty Images LONDON — Taylor Swift’s record-shattering Eras Tour is continuing to supercharge consumer spending as it enters its U.K. leg, suggesting that the Bank of … Read more
The Bank of Japan kept ultra-low interest rates on Friday but decided to start trimming its huge bond purchases in a slow but steady retreat from its massive monetary stimulus. While it will continue to buy government bonds at the current pace of roughly 6 trillion yen ($38 billion) per month, the central bank decided … Read more
A measure of wholesale prices unexpectedly decreased in May, adding another piece of evidence that inflation is pulling back. The producer price index, a gauge of prices that producers get for their goods and services in the open market, declined 0.2% for the month, the Labor Department’s Bureau of Labor Statistics reported Thursday. That reversed … Read more
(NewsNation) — By the end of the decade, the world will have more oil than it knows what to do with, according to a new report. Global oil demand will peak by 2029 and then contract while supply is expected to grow, the International Energy Agency (IEA) said in its new oil market outlook. If … Read more
CHRISTOPHER RUGABER, Associated Press Updated: Jun 12, 2024 / 07:58 AM CDT Unsold 2024 Colorado pickup trucks sit in a row outside a Chevrolet dealership Sunday, June 2, 2024, in Lone Tree, Colo. On Wednesday, June 12, 2024, the Labor Department issues its report on prices at the consumer level in May. (AP Photo/David Zalubowski) … Read more
The consumer price index showed no increase in May as inflation slightly loosened its stubborn grip on the U.S. economy, the Labor Department reported Wednesday. The CPI, a broad inflation gauge that measures a basket of goods and services costs across the U.S. economy, held flat on the month though it increased 3.3% from a … Read more
