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News Articles: inflation

High inflation has been particularly tough for people who rely on Social Security for their income.

Tagged as: 

  • Economy

Social Security recipients will get a smaller increase in benefits as inflation cools

Social Security beneficiaries will receive a 3.2% cost of living adjustment next year. Inflation has been moderating recently, with consumer prices in September up 3.7% from a year ago.

October 12, 2023
|
By:
  • Scott Horsley
People walk past a restaurant, with a hiring sign outside in Washington, D.C., on Oct. 5, 2023. Employers added 336,000 jobs in September, far more than what analysts had predicted.

Tagged as: 

  • Economy

How to make sense of the country's stunningly strong job market

U.S. employers added about twice as many jobs in September as forecasters expected. That's good for people looking for work, but the strong report could complicate the Fed's effort to curb inflation.

October 06, 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. Employers added far more jobs than expected in September, showcasing the country's resilient jobs market.

Tagged as: 

  • Business

The job market was stunningly strong in September

Employers added 336,000 jobs in September, far more than expected. It's good news for people looking for work, but the strong labor market could complicate the Fed's fight against inflation.

October 06, 2023
|
By:
  • Scott Horsley
Fed Chair Jerome Powell speaks during a news conference at the Federal Reserve in Washington, D.C., on July 26, 2023.

Tagged as: 

  • Economy

The Federal Reserve holds interest rates steady but hints at more action this year

The Federal Reserve left interest rates unchanged Wednesday, despite stubborn inflation, although it left the door open to an additional rate hike in November or December.

September 20, 2023
|
By:
  • Scott Horsley
A car accident is cleared at an intersection without power in Charlotte, N.C., on Dec. 24, 2022. Auto insurance costs are soaring — well outpacing overall inflation.

Tagged as: 

  • Economy

4 reasons why your car insurance premium is soaring

The cost of car insurance has jumped more than 19% in the last year, far outpacing overall inflation. There are several reasons why that's happening.

September 13, 2023
|
By:
  • Scott Horsley
Federal Reserve Chair Jerome Powell arrives for a meeting of financial regulators in Washington, D.C., on July 28, 2023. Powell warned on Friday the fight against inflation still "has a long way to go."

Tagged as: 

  • Economy

Fed Chair Jerome Powell warns the fight against inflation is far from over

Federal Reserve Chair Jerome Powell said interest rates could stay elevated for an extended period to bring inflation to the central bank's 2% target.

August 25, 2023
|
By:
  • Scott Horsley
Mortgage rates have been surging, making home ownership a lot less affordable for many people. The higher rates have also made people reluctant to sell their current homes, since many would likely have to pay more in mortgages for their next house.

Tagged as: 

  • Economy

Mortgage rates just hit their highest since 2002

The average cost of a 30-year fixed-rate mortgage jumped to 7.09% this week, the highest in over two decades. Rising interest rates have put homes out of reach for many would-be buyers.

August 17, 2023
|
By:
  • Scott Horsley
The latest inflation report is reinforcing hopes about a soft landing in the economy — or when inflation eases without sparking a downturn.

Tagged as: 

  • Economy

Here's where inflation stands today — and why it's raising hope about the economy

Consumer prices rose 3.2% in July from a year ago, higher than the 3% gain seen in June — but it was largely due to math. Overall, inflation continues to ease, raising optimism about the economy.

August 10, 2023
|
By:
  • Scott Horsley and
  • David Gura
Annual inflation accelerated slightly in July, although the uptick was modest and within expectations.

Tagged as: 

  • Business

Inflation got a little higher in July as prices for rent and gas spiked

Consumer prices rose 3.2% in July from a year ago, up slightly from the 3% annual rise see in June — but still within analyst expectations

August 10, 2023
|
By:
  • Scott Horsley
The latest employment data for July is bolstering hopes about the economy after employers continued to add jobs at a solid clip.

Tagged as: 

  • Economy

The case for a soft landing in the economy just got another boost

U.S. employers added 187,000 jobs in July, a slower but still solid pace of growth, suggesting the Federal Reserve may be able to curb inflation without triggering a recession.

August 04, 2023
|
By:
  • Scott Horsley
It wasn't too long ago that a lot of experts were fearing a recession. It hasn't quite turned out that way – but that doesn't mean recession fears are over.

Tagged as: 

  • Economy

Could the U.S. still see a recession? We got big clues this week on where it's headed

Consumers kept spending and businesses investing in the first half of the year, leading to healthy growth in the U.S. GDP. But there's still some apprehension about a possible recession. Here's why.

July 27, 2023
|
By:
  • David Gura and
  • Scott Horsley
A person pumps gas at a BP gas station in Brooklyn, N.Y., on June 12. Annual inflation eased to 3% in June, the lowest in over two years, and there's hope that it could go lower.

Tagged as: 

  • Economy

Why inflation is losing its punch — and why things could get even better

Annual inflation fell to 3% in June, the lowest since March 2021. That probably won't stop the Federal Reserve from raising rates again, but this month's expected hike could be the last.

July 13, 2023
|
By:
  • Scott Horsley
People shop at a market in Brooklyn, New York City, on June 12, 2023.

Tagged as: 

  • Business

Inflation eases to its lowest in over two years, but it's still running a bit high

Consumer inflation hit 3% in June, the lowest since March 2021. Though easing prices will be comforting to the Federal Reserve, inflation is still running higher than the central bank would like.

July 12, 2023
|
By:
  • Scott Horsley
Many back-to-school shoppers are relying on sales to save money, especially as inflation continues to strain people's wallets.

Tagged as: 

  • Business

It's back-to-school shopping time, and everyone wants a bargain

Spending on back-to-school supplies is predicted to decline this year, for the first time since 2014. With inflation top of mind, parents and teachers are looking for ways to save money.

July 12, 2023
|
By:
  • Erin Kenney
A 'Now Hiring' sign is displayed outside a check cashing shop in Los Angeles on June 2, 2023. Employers added 209,000 jobs last month, slowing down from previous months but still marking respectable growth.

Tagged as: 

  • Economy

The job market is cooling but still surprisingly strong. Is that a good thing?

U.S. employers added 209,000 jobs in June. That's a solid number, but fewer than the month before. Here are the 5 things we took away from the report.

July 07, 2023
|
By:
  • Scott Horsley
  • Load More

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