Spiking energy leads wholesale prices up 0.5% in February
Over the past year, wholesale prices are up 2.8%, the largest 12-month gain at the wholesale level in more than two years.
Inflation
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Consumer prices increase 0.4%, but core prices moderate
Consumer prices are up 1.7% over the past year, a still moderate performance for inflation, which is running below the Federal Reserve’s 2% target for price increases.
Powell stresses commitment to full employment, low rates
Federal Reserve Chairman Jerome Powell on Wednesday underscored the Fed’s commitment to reducing unemployment to multi-decade lows, while signaling little concern about the risk of potentially high inflation or financial market instability.
Consumer prices up 0.4% in December, led by higher gas prices
Inflation for all of 2020 rose a modest 1.4%, well below the Federal Reserve’s 2% target. Analysts believe inflation will remain subdued with the U.S. economy still unable to break out of a pandemic-induced downturn.
U.S. consumer prices rise 0.2% as cost of used vehicles spike
Prices for used cars and trucks are up 10.3% in the past 12 months. The September increase in used vehicle prices was the largest monthly increase since February 1969.
Consumer prices up 0.4% in August as used car prices surge
The Labor Department reported Friday that the August increase in the consumer price index reflected some moderation following big gains of 0.6% in both June and July.
Powell edges toward loosening the Fed’s stance on inflation
Behind the Fed’s new thinking is an ailing economy in the grip of a viral pandemic and a stubbornly low inflation rate that has long defied the Fed’s efforts to raise it.
U.S. consumer prices up only slightly in September
Consumer prices edged up a slight 0.1 percent in September as energy prices retreated after a big gain in August.
U.S. inflation sees biggest increase in six years
Consumer prices rose in June from a year earlier at the fastest pace since February 2012, lifted by more expensive gas, car insurance and higher rents.
U.S. consumer prices show modest monthly increase
Consumer prices increased at 0.2 percent pace in February, underscoring that inflation pressures appear to be muted for now.
Is U.S. economic recovery nearing its end after 8 years?
The chief investment strategist for Fifth Third Bank says the economy is in the seventh inning of its recovery, which is "good news." But headwinds in the labor market could be limiting the potential for growth.
‘Twelve Days of Christmas’ to cost a tad more this year
The prices for nine of the 12 gifts listed in the holiday carol stayed the same or became cheaper this year, according to the 33rd annual PNC Wealth Management Christmas Price Index released Thursday.
Growth in Hoosier wages lagging inflation
Pay raises were a pipe dream for many Hoosiers last year—as the median wage in Indiana inched up 0.8 percent, to $31,990, according to federal data released this month.
’12 Days of Christmas’ items top $114,000
The price of lords-a-leaping and ladies dancing has spiked this holiday season, but other items mentioned in the carol "The Twelve Days of Christmas" still cost the same as they did last year.
Items in ’12 Days of Christmas’ increase to $107,000
If you get buy all 364 items repeated throughout “The Twelve Days of Christmas” carol, you’ll pay 6.1 percent more this year, according to the so-called Christmas Price Index that PNC Wealth Management updates annually.
Bernanke: Economy growing much too slowly to put people back to work
Federal Reserve Chairman Ben Bernanke told a local lunch crowd that he expects the economy to keep growing, but he said the growth is so slow that it could create a "permanent group" of underemployed Americans.
Rising gas prices put a crimp in Americans’ spending
The Federal Reserve this week took steps to boost economic growth. But those stimulus measures are also pushing oil prices up. If gas prices follow, consumers will have less money to spend elsewhere.
Cost of Thanksgiving meal jumps 13 percent on food inflation
The cost of a Thanksgiving dinner in the U.S. will jump 13 percent this year, the biggest gain in two decades, as prices rose for everything from turkey to green peas to milk, the American Farm Bureau Federation said.
Economy growing at slowest pace since recession
The economy expanded at a meager 1.3-percent annual rate in the spring after scarcely growing at all in the first three months of the year, the Commerce Department said Friday. The combined growth for the first six months of the year was the weakest since the recession ended two years ago.
HICKS: Inflation delays visit, but it’ll arrive eventually
All economists know that, at its core, inflation is caused solely by too much money chasing too few goods.