inflation
Republicans hold Merrick Garland in contempt. This has long been true, but on Wednesday the GOP-controlled House of Representatives made it official. In a near-total party-line vote, with only Rep. Dave Joyce (R–Ohio) crossing the aisle, House Republicans voted to hold the attorney general in contempt of Congress for refusing to release recordings of an interview President Joe Biden did with Special Counsel Robert Hur as part of the president's classified documents case. Back in February, Hur controversially declined to prosecute Biden for keeping classified documents at his private residence,...
Reason
Spain’s year-on-year inflation report for May was released on Thursday morning, coming in at 3.6%, which was in line with market expectations, according to the National Statistics Institute. However, it was above April’s 3.3%. This was mostly driven by increases in housing inflation, which saw a rise of 1.2 points, clocking in at 5.2%. A significant portion of this was due to electricity prices, which had reduced in May 2023, but spiked in May this year. Transport inflation also increased to 3.8%, boosted by increases in fuel prices, which fell less in May 2024 than in May 2023. Hotels, cafes ...
Euronews (English)
Washington (AFP) - The US Federal Reserve left its key lending rate unchanged on Wednesday and penciled in just one rate cut this year, down from the three expected in March after inflation stalled in the first quarter. The Fed voted unanimously to keep its benchmark interest rate between 5.25 and 5.50 percent, and said that "modest" progress had been made toward its long-term inflation target of two percent. The announcement suggests that central bank officials remain wary about cutting rates too soon, despite consumer inflation data published earlier Wednesday, which pointed to a slowdown i...
AFP
Washington (AFP) - US consumer inflation continued to cool last month, according to US government data published Wednesday, giving the US Federal Reserve some positive news shortly before it publishes its latest interest rate decision. The annual consumer price index (CPI) came in at 3.3 percent in May, down 0.1 percentage point from April, the Labor Department said in a statement. This was slightly lower than the median forecast of economists surveyed by Dow Jones Newswires and The Wall Street Journal. The monthly inflation rate was unchanged from a month earlier, below expectations of a 0.3...
AFP
U.S. equities will likely open in the green today after the U.S. Bureau of Labour Statistics said inflation was up less than expected in May. What to expect from the S&P 500?Versus a year ago, the consumer price index (CPI) came in at 3.3% versus the Dow Jones estimate of 3.4%. Today’s data is a positive for the U.S. Federal Reserve that closely follows inflation to set its monetary policy. Cooler than expected CPI may push the central bank favour rate cuts at some point in 2024 which, in turn, could be a positive for the S&P 500. In fact, Fundstrat’s Tom Lee expects the benchmark index to hit...
Invezz
China's consumer price index rose slightly in May by 0.3% compared to the same month last year, continuing a slow upward trend over the past four months in the world's second-largest economy. Analysts had predicted a slightly larger rise. Compared with April this year, prices declined by 0.1%, the national statistical bureau reported on Wednesday. China experienced deflation from the autumn of last year up to January as the economy slowed and fears rose of falling wages and job losses. Consumer demand remains weak, partly because many young people are unemployed and the property market, in whi...
DPA Breaking News
Inflation in Germany for May was up 2.4% year-on-year, according to just published figures from the Federal Statistical Office. That was in line with analyst expectations, the first rise for five months and a slight rise from the three-year low of 2.2% seen in both March and April. The increase was mainly due to a rise in services costs, which came in at 3.9% in May, up from 3.4% in April. Food costs also increased, up 0.6% on last month, and 0.5% in April. However, the prices of goods saw a slowdown, inching up 1% in May, compared with 1.2% in the previous month, with energy prices continuing...
Euronews (English)
Hopes of the United Kingdom shaking its late 2023 technical recession appear to have been short-lived, after grim real gross domestic product (GDP) figures from the Office for National Statistics (ONS) this morning. According to the ONS, the UK economy stalled in April, showing no growth whatsoever, showing 0% figures versus the 0.4% growth seen in March 2024. Declining production and constructionThis morning’s data also showed that production output in the UK fell by 0.9% in April 2024 following growth of 0.2% in March 2024, but grew by 0.7% in the three months to April 2024. Construction out...
Invezz
Angeschoben von gestiegenen Preisen für Dienstleistungen hat die Inflation in Deutschland zum ersten Mal in diesem Jahr wieder etwas an Tempo gewonnen. Die Verbraucherpreise lagen im Mai um 2,4 Prozent über dem Niveau des Vorjahresmonats. Das Statistische Bundesamt bestätigte vorläufige Daten. Bereits im April war der Rückgang der Inflation bei einer Rate von 2,2 Prozent ins Stocken geraten. Die extrem hohen Teuerungsraten der vergangenen Jahre sind aber Geschichte. Die Inflationsrate ziehe vor allem wegen der weiterhin steigenden Dienstleistungspreise wieder etwas an, erläuterte Behördenchefi...
DPA (German)
It’s been a difficult past month for the Japanese Yen, which has seen almost continuous weakening against the US dollar following the latter’s victorious bumper crop of Nonfarm Payrolls recently. As of this morning (Wednesday 12th), the USD/JPY has risen for four days in a row, nearing the $157.25 price point at the time of this article going to press. Today, so far, the USD/JPY has continued to strengthen during the Asian trading session, in anticipation of United States inflation data figures, as well as the Federal Open Market Committee (FOMC) decision on US interest rates, both coming out ...
Invezz
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