Aug 17 Egypt’s central bank governor resigns as economic struggles mount By Samy Magdy, Aya Batrawy, Associated Press The Middle East's most populous nation has struggled to curb inflation triggered by Russia's war in Ukraine, high oil prices and a drop in tourism. Continue reading
Aug 17 July retail sales were flat, as customers weather inflation By Paul Wiseman, Anne D'Innocenzio, Associated Press The pace of sales at U.S. retailers was unchanged last month as persistently high inflation and rising interest rates forced many households to spend more cautiously. Continue reading
Aug 11 U.S. wholesale inflation fell in July for first time in 2 years By Christopher Rugaber, Associated Press Prices at the wholesale level fell from June to July, the first month-to-month drop in more than two years and a sign that some of the U.S. economy's inflationary pressures cooled last month. Continue reading
Aug 10 U.S. inflation at 8.5 percent, slips from from 40-year high By Christopher Rugaber, Associated Press Falling gas prices gave Americans a slight break from the pain of high inflation last month, though the surge in overall prices slowed only modestly from the four-decade high it reached in June. Continue reading
Aug 03 High inflation makes back-to-school spending harder for many families By Anne D'Innocenzio and Claire Savage, Associated Press This back-to-school shopping season, parents are focusing on the basics while also trading down to cheaper stores as surging inflation takes a toll on their household budgets. Continue reading
Jul 29 Watch 5:39 Manufacturers use ‘shrinkflation’ to pass costs on to consumers By Paul Solman, Diane Lincoln Estes With inflation at a 40-year high in the U.S., we are all spending more when we go to the store. But there is another dimension of inflation these days called "shrinkflation." Economics correspondent Paul Solman explains. Continue watching
Jul 28 WATCH: Biden downplays troubling economic report, focuses on measures to tame inflation By Josh Boak, Zeke Miller, Associated Press Republicans say Thursday's report showing the economy shrank for the second consecutive quarter is evidence of a "Biden recession." Biden pointed to near-record-low unemployment and signs of continued business investment in the economy. Continue reading
Jul 28 Watch 9:19 Senate agreement on climate change, health care revives Biden’s legislative agenda Senate Democrats are lauding a deal on a spending package to reduce the deficit, lower health care costs, raise corporate taxes and combat climate change. It's a stunning development after more than a year of negotiations had failed to win… Continue watching
Jul 28 Watch 9:02 U.S. economy shrank for the second straight quarter, stoking fears of a recession New data out Thursday shows the U.S. economy shrank for the second straight quarter, raising concerns that the nation might be nearing, if not already in, a recession. The White House pushed back against that idea, pointing to strong job… Continue watching
Jul 28 How to know when a recession has begun By Christopher Rugaber, Associated Press The U.S. economy has contracted for two straight quarters, intensifying fears that it is on the cusp of a recession, if not already in one, barely two years after the pandemic downturn officially ended. Continue reading