inflation

WATCH: Federal Reserve Chair Powell warns interest rates could increase 'for some time'

By Christopher Rugaber, Associated Press

Federal Reserve Chair Jerome Powell delivered a stark message Friday: The Fed will likely impose more large interest rate hikes in coming months and is resolutely focused on taming the highest inflation in four decades.

This New Orleans food bank opened to serve more people. Inflation is forcing organizers to turn dozens away

By Roby Chavez

Inflation, supply chain issues, and rising gas prices impact food pantries across Louisiana. Some are now faced with imposing limits on grocery giveaways, turning people away, and even canceling food distribution.

As Zimbabwe again faces inflation, government introduces gold coins

By Farai Mutsaka, Associated Press

Rising prices and a fast depreciating currency have pushed many in Zimbabwe to the brink, reminding people of when the southern African country faced world-record inflation of 5 billion percent in 2008.

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.

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.

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.

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.

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.

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.

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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.