Oct 19 U.K. inflation at 10.1 percent, 40-year high as food prices rise By Danica Kirka, Jill Lawless, Associated Press British food prices rose at the fastest pace since 1980 last month, driving inflation back to a 40-year high and heaping pressure on the embattled government to balance the books without gutting help for the nation's poorest residents. Continue reading
Oct 18 Industries across France strike in push for pay hikes amid inflation By Nicolas Garriga, Boubacar Diallo, Associated Press Rail and other transportation workers, trucking and bus companies, some high school teachers and public hospital employees have heeded a call by an oil workers’ union for French industry to push for salary increases and protest government intervention in the… Continue reading
Oct 16 British Prime Minister Liz Truss goes from triumph to trouble in six weeks on the job By Jill Lawless, Associated Press In just six weeks, the prime minister’s libertarian economic policies have triggered a financial crisis, emergency central bank intervention, multiple U-turns and the firing of her Treasury chief. Continue reading
Oct 14 Watch 9:09 Why gas prices are so much higher in California and how the state is reacting By William Brangham, Courtney Norris Gas prices in much of the country have dropped substantially this fall. But in California, it’s been just the opposite. Prices there are pushing some residents to the edge, and the record costs are raising concerns about whether price gouging… Continue watching
Oct 14 How inflation spread across different sectors, making it harder to tame By Christopher Rugaber, Associated Press What keeps driving inflation so high? The answer, it seems, is nearly everything. Continue reading
Oct 13 Watch 3:58 Inflation remains stubbornly high despite Federal Reserve's efforts to stabilize costs By Amna Nawaz The latest inflation numbers are still above 8%, a 40-year high with prices rising for housing, medical care, new cars, air travel and more. It will almost surely mean another significant interest rate hike in a few weeks. Economist Diane… Continue watching
Oct 13 Watch 5:36 Will the bump in Social Security benefits be enough to offset inflation? By Paul Solman, Ryan Connelly Holmes, Karina Cuevas For older Americans and retirees, there was some helpful news to accompany the latest inflation report. Americans taking Social Security will see an 8.7% bump in their benefits. That's starting in January thanks to the 2023 cost of living adjustment,… Continue watching
Oct 13 After rocky morning, stocks mount biggest comeback in years By Stan Choe, Damian J. Troise, Alex Veiga, Associated Press The S&P 500 jumped to a gain of 2.6 percent, a stunning reversal after earlier being down as much as 2.4 percent and touching its lowest level in nearly two years. Continue reading
Oct 13 Costs of housing and services accelerated U.S. inflation in September By Christopher Rugaber, Associated Press The jump in inflation last month is a sign that the Fed’s five rate hikes this year have so far done little to cool inflation pressures. Continue reading
Oct 13 Social Security benefits to get historic 8.7 percent boost next year By Fatima Hussein, Associated Press It's welcome news for American retirees and others, but also tempered by the fact that it’s fueled by high inflation that’s raised the cost of everyday living. Continue reading