Inflation rose slightly in October despite a massive slowdown in job growth in the same month, according to a Bureau of Labor Statistics (BLS) report released Wednesday.
Read MoreInflation Ticks Up Despite Slowdown in Jobs Market
Tag: consumer price index
Inflation Ticks Down Less than Expected as Fears of Hot Economy Grow
Inflation fell slightly in September amid fears of a hotter-than-expected economy following strong job gains in the month prior, according to the latest Bureau of Labor Statistics (BLS) release Thursday.
The consumer price index (CPI), a broad measure of the price of everyday goods, increased 2.4% on an annual basis in September and rose 0.2% month-over-month, compared to 2.5% in August, less than the 2.3% rate that was expected, according to the BLS. Core CPI, which excludes the volatile categories of energy and food, rose 3.3% year-over-year in September, compared to 3.2% in August.
Read MoreHousing Costs Surge in July, Accounting for 90 Percent of Total Inflation
The cost of housing surged in July, accounting for nearly 90 percent of total inflation, according to the latest Bureau of Labor Statistics Consumer Price Index (CPI) data released Wednesday.
Shelter costs rose 5.1 percent year-over-year and 0.4 percent month-over-month, after rising 0.2 percent in June, the BLS showed. The 0.4 percent monthly increase was greater than Bank of America economists’ expectations of 0.3 percent, according to investment research firm Morningstar.
Read MoreConsumer Prices Rise in Latest Federal Inflation Data
Consumer prices rose again last month after dipping in June, according to newly released federal inflation data.
The U.S. Bureau of Labor Statistics on Wednesday released its Consumer Price Index, a key marker of inflation, which showed that consumer prices rose 0.2% in July, part of a 2.9% increase over the past 12 months.
Read MoreInflation Falls Below Expectations as Economy Cools
Inflation ticked down slightly year-over-year in June as rising prices continue to weigh on average Americans’ finances, according to the latest Bureau of Labor Statistics (BLS) release on Wednesday.
The consumer price index (CPI), a broad measure of the price of everyday goods, increased 3.0 percent on an annual basis in June and decreased 0.1 percent month-over-month, compared to 3.3 percent in May, according to the BLS. Core CPI, which excludes the volatile categories of energy and food, remained high, rising 3.3 percent year-over-year in June, compared to 3.4 percent in May.
Read MoreCheck’s Not In Mail: Postal Service Re-Organization Failed to Stem Billions in Losses
The U.S. Postal Service has now accumulated a whopping $98 billion in losses since it went into the red in 2007 and its much-ballyhooed reorganization has failed to reverse the trend as expected, according to a sobering new report from the iconic mail agency’s watchdog.
The Postal Service inspector general reports that the mail service recorded losses of $950 million in 2022 and $6.5 billion in 2023, in the first two years after implementing its decade-long Delivering for America (DFA) reorganization plan.
Read MoreInflation Slows Slightly, but Cost of Some Goods, Services Climbs
Newly released federal inflation data showed that inflation slowed in recent weeks.
The U.S. Bureau of Labor Statistics released its Consumer Price Index, which showed that overall consumer prices paused in the month of May after rising 0.3 percent in April.
Read MoreInflation Stays High as Rising Prices Continue to Squeeze Americans
Inflation ticked down slightly year-over-year in April but still remained high as rising prices continue to take a toll on average Americans’ finances, according to the latest Bureau of Labor Statistics (BLS) release on Tuesday.
The consumer price index (CPI), a broad measure of the prices of everyday goods, increased 3.4% on an annual basis in April and 0.3% month-over-month, compared to 3.5% in March, according to the BLS. Core CPI, which excludes the volatile categories of energy and food, remained higher, rising 3.6% year-over-year in April, compared to 3.8% in February.
Read MoreAmericans Less Confident About Economy, Poll Shows
Americans are less confident about the economy, according to a new survey.
Gallup’s recently released economic confidence rating dropped from March to April as inflation remains elevated. Just after the polling was conducted from April 1-22, the federal government released underperforming Gross Domestic Product data.
Read MoreElevated Inflation, Poor GDP Growth Raise Concerns
Federal data released Friday showed that inflation remains elevated. The figures came out on the heels of other data showing the U.S. Gross Domestic Product underperformed in the first quarter of this year.
Both the inflation and GDP data points raised concerns among economists and renewed criticism of President Joe Biden among Republicans.
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