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Rising prices for housing, food and energy, with a sharp increase also for used autos, pushed the Consumer Price Index up at a 3% annual rate in January versus 2.9% the month before.
And hotel rates fell 1%, partly reversing a 3.2% increase the previous month. Some goods prices also moderated. Appliances slid 2.9% while furniture slipped nearly 1% and apparel inched up just 0.1%.
Consumer prices overall increased 2.7% from a year ago, up from 2.6% in October, according to the Labor Department’s consumer price index, a popular measure of goods and services costs.
On a "core" basis, which strips out the more volatile costs of food and gas, prices in January climbed 0.4% over the prior month, higher than December's 0.2% monthly gain and the largest monthly ...
An inflation gauge closely tracked by the Federal Reserve rose in August, boosted mainly by higher gas prices. Excluding volatile food and energy prices, though, “core” inflation rose by the ...
Another quarter-point rate increase on Wednesday would leave the Fed's key rate at 5.1% — a 16-year high and a full 5 percentage points higher than in March 2022.
Officials paused in June but signaled a willingness to raise rates again to tame inflation. Federal Reserve holds interest rates steady, forecasts two more rate hikes this year [Video] Skip to ...
A price gauge closely monitored by the Fed rose just 3% in June from a year earlier. ... the figures provided the latest signs that the Federal Reserve's drive to tame inflation may succeed ...