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News Articles: inflation

While food prices have risen in many parts of the world, a dramatic jump in one of Italy's staple foods has prompted the government to take action.

Tagged as: 

  • Food

Soaring pasta prices caused a crisis in Italy. What can the U.S. learn from it?

Italian officials convened crisis talks last week to address the price of pasta, which was up a whopping 17.5% year-over-year in March. But it's far from the only country seeing a rise in food prices.

May 18, 2023
|
By:
  • Rachel Treisman
A picture prior to the central bank session of the Group of Seven finance ministers and central bank governors meeting in Niigata, Japan, on Saturday, May 13, 2023.

Tagged as: 

  • World

G7 finance leaders pledge to contain inflation and to continue support for Ukraine

Finance ministers and central bank chiefs ended talks in Japan with a joint statement pledging to bring inflation under control while aiding those suffering the most from surging prices.

May 13, 2023
|
By:
  • The Associated Press
A customer shops for meat at a Safeway store in San Rafael, Calif., on April 12, 2023. Consumer prices eased slightly in April from the previous month but are still too high for the Fed's comfort.

Tagged as: 

  • Economy

Inflation stayed high last month, compounding the challenges facing the U.S. economy

Consumer prices in April were 4.9% higher than a year ago, according to the Labor Department. Prices rose 0.4% between March and April.

May 10, 2023
|
By:
  • Scott Horsley
A customer walks by a "now hiring" sign posted in front of a store in Novato, Calif., on April 7, 2023.

Tagged as: 

  • Economy

In a surprise, the job market grew strongly in April despite high interest rates

The U.S. job market may be getting a second wind. Employers added 253,000 jobs in April, a modest uptick from the month before. The unemployment rate dipped to 3.4%.

May 05, 2023
|
By:
  • Scott Horsley
Federal Reserve Chair Jerome Powell speaks during a news conference at the Federal Reserve in Washington, D.C, on March 22, 2023. The Fed raised interest rates again Wednesday but signalled it may be the last hike for a while.

Tagged as: 

  • Economy

The Fed raises interest rates again in what could be its final attack on inflation

The Federal Reserve raised interest rates by a quarter percentage point Wednesday in an effort to curb persistent inflation. It was the tenth rate hike in 14 months, and possibly the last for a while.

May 03, 2023
|
By:
  • Scott Horsley
A customer waits to order food at a Miami McDonald's on July 26, 2022. The CEO of McDonald's expects the U.S. to experience a mild recession and says customers have grown more reluctant to splurge on or supersize their orders.

Tagged as: 

  • Economy

The U.S. economy is losing steam. Bank woes and other hurdles are to blame.

The country's GDP growth is slowing as banks cut back on credit and the Federal Reserve tries to crack down on inflation.

April 27, 2023
|
By:
  • Scott Horsley
Shoppers look over mattresses at a store in Miami on March 14, 2023.

Tagged as: 

  • Economy

Inflation eased in March but prices are still climbing too fast to get comfortable

Consumer prices in March were up 5% from a year ago. While inflation has eased from a four-decade high last summer, prices are still rising faster than the Federal Reserve would like.

April 12, 2023
|
By:
  • Scott Horsley
A call for employment sign is displayed at a Taco Bell in Austin, Texas, on March 10, 2023. The labor market is slowing as higher interest rates start to filter through the economy.

Tagged as: 

  • Economy

The job market is cooling as higher interest rates and a slowing economy take a toll

U.S. employers added 236,000 jobs in March as hiring slowed from the previous month. Unemployment dipped to 3.5%, from 3.6% in February.

April 07, 2023
|
By:
  • Scott Horsley
McDonald's is closing U.S. offices this week and laying off hundreds of employees. Journalist Adam Chandler explained what the layoffs mean on Morning Edition.

Tagged as: 

  • Business

Four key takeaways from McDonald's layoffs

Hundreds of corporate employees are set to lose their jobs as McDonald's closes its U.S. offices this week. Journalist and author Adam Chandler offers his perspective on the causes of the layoffs.

April 05, 2023
|
By:
  • Ally Schweitzer
President Biden enters the Roosevelt Room on March 13 to talk about why the government backstopped all deposits at two failed banks.

Tagged as: 

  • Politics

Teetering banks put Biden between a bailout and a hard place ahead of the 2024 race

Voters hate bank bailouts. But letting them fail without a safety net for customers could have been even worse for President Biden ahead of the 2024 presidential race.

March 23, 2023
|
By:
  • Asma Khalid
Federal Reserve Chair Jerome Powell speaks during a news conference at the Federal Reserve in Washington, DC, on Feb. 1, 2023. The Fed on Wednesday raised interest rates again, opting to continue its fight against inflation despite turmoil in the banking sector.

Tagged as: 

  • Economy

The Fed raises interest rates again despite the stress hitting the banking system

The Federal Reserve raised its benchmark interest rate by a quarter percentage-point in an effort to curb high inflation. Some had called for the Fed to wait after two recent bank failures.

March 22, 2023
|
By:
  • Scott Horsley
A security guard at Silicon Valley Bank monitors a line of people outside the office in Santa Clara, Calif., on March 13, 2023. The Fed will now need to factor in the impact of the collapse of the lender, along with Signature Bank, as it makes its next decision on interest rates.

Tagged as: 

  • Economy

The Fed already had a tough inflation fight. Now, it must deal with banks collapsing

Consumer prices in February were 6% higher than a year ago, as inflation continues to ease. The data comes just days after the collapse of two regional lenders is roiling the banking system.

March 14, 2023
|
By:
  • Scott Horsley
A "Help Wanted" sign is posted at a restaurant in Los Angeles on Feb. 2, 2023. U.S. employers added 311,000 jobs last month, a number that indicates the labor market remains fairly hot.

Tagged as: 

  • Economy

The job market slowed last month, but it's still too hot to ease inflation fears

U.S. employers added 311,000 jobs in February, only a modest slowdown from the previous month, indicating the labor market remains hot. The unemployment rate rose to 3.6% from 3.4% in January.

March 10, 2023
|
By:
  • Scott Horsley
Federal Reserve Chair Jerome Powell testifies before the Senate Banking, Housing and Urban Affairs Committee on Capitol Hill in Washington, D.C., on Tuesday. Powell warned the fight against inflation still has "a long way to go," sending stock markets lower.

Tagged as: 

  • Economy

Federal Reserve Chair Jerome Powell warns inflation fight will be long and bumpy

Speaking before the Senate Banking Committee, Powell warned the central bank may have to raise interest rates even more, sending stock markets sharply lower.

March 07, 2023
|
By:
  • Scott Horsley
Savers can often find better rates on accounts from credit unions and online banks than at many major financial institutions.  Photo by Frederic J. Brown/AFP via Getty Images.

Tagged as: 

  • Your Money

Getting a measly interest rate on your savings? Here's how to score a better deal

Many big banks offer shockingly low interest rates on savings accounts. Moving your money to a smaller institution could bring better returns.

March 04, 2023
|
By:
  • Arezou Rezvani
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