LOS ANGELES (AP) — Even in the hottest U.S. housing market in more than a decade, new home construction has turned into a frustratingly uncertain and costly proposition for many homebuilders.
Rising costs and shortages of building materials and labor are rippling across the homebuilding industry, which accounted for nearly 12% of all U.S.
LONDON (AP) — The Bank of England kept its main interest rate at the record low of 0.1% while warning Thursday that inflation is set to be double its target rate by the end of this year, largely due to a sharp spike in energy prices.
ISTANBUL (AP) — Turkey’s Central Bank unexpectedly cut the main interest rate by one percentage point on Thursday, bowing to President Recep Tayyip Erdogan’s demand for lower borrowing rates to boost growth.
Asian shares were mostly higher on Thursday after the Federal Reserve signaled it may begin easing its extraordinary support measures for the economy later this year.
WASHINGTON (AP) — The Federal Reserve signaled Wednesday that it may start raising its benchmark interest rate sometime next year, earlier than it envisioned three months ago and a sign that it's concerned that high inflation pressures may persist.
WASHINGTON (AP) — Below is the statement the Fed released Wednesday after its policy meeting ended:
The Federal Reserve is committed to using its full range of tools to support the U.S. economy in this challenging time, thereby promoting its maximum employment and price stability goals.
Inflation is not the bogeyman it is cracked up to be. Doomsters were caught off guard last week when the US consumer price index (CPI) recorded a lower-than-expected 0.3 per cent monthly gain in August, temporarily boosting bonds and denting stocks.
WASHINGTON (AP) — The Federal Reserve is expected this week to send its clearest signal yet that it will start reining in its ultra-low-interest rate policies later this year, a first step toward unwinding the extraordinary support it's given the economy since the pandemic struck 18 months ago.
What a difference six months make. In March, respondents to Bank of America's fund manager survey were overwhelmingly bullish. A net 91 per cent of investors expected stronger global growth, the most optimistic outlook since the survey began in 1994.
LONDON (AP) — Consumer prices in the U.K. rose at their fastest recorded rate during August as global supply shortages and higher wages accentuated the uptick from pandemic-related discounts a year ago, official figures showed Wednesday.
BEIJING (AP) — Asian stock markets followed Wall Street down on Wednesday after U.S. inflation was lower than expected amid unease about the impact of the spread of the coronavirus's delta variant.
US consumer prices rise 0.3% in August, lowest in 7 months
WASHINGTON (AP) — U.S. consumer prices rose a lower-than-expected 0.3% last month, the smallest monthly increase in seven months and a hopeful sign that inflation pressures may be cooling.
WASHINGTON (AP) — U.S. consumer prices rose a lower-than-expected 0.3% last month, the smallest increase in seven months and a hopeful sign that a recent jump in inflation may be cooling.
The August gain was weaker than the 0.5% increase in July and a 0.9% surge in June, the Labor Department reported Tuesday.
BEIJING (AP) — Asian stock markets were mixed Tuesday as investors waited for an update on U.S. inflation that has been stronger than expected.
Shanghai and Hong Kong advanced, while Tokyo and Seoul retreated.
A look at some of the key business events and economic indicators upcoming this week:
EYE ON INFLATION
The Labor Department serves up its August reading of inflation at the consumer level Tuesday.
Shares slipped Monday in most Asian markets after Wall Street benchmarks ended last week with a decline.
Stocks fell in Tokyo, Hong Kong and Seoul but rose modestly in Sydney and Shanghai.
Japan reported its wholesale prices were near a 13-year high in August, adding to concerns over inflation as the country prepares for a leadership transition.
Stocks are opening higher on Wall Street Friday, clawing back some of the ground the market lost in this holiday-shortened week. The S&P 500 was up 0.3%. Technology companies had some of the biggest gains.
WASHINGTON (AP) — Inflation at the wholesale level climbed 8.3% last month from August 2020, the biggest annual gain since the Labor Department started calculating the 12-month number in 2010.
The Labor Department reported Friday that its producer price index — which measures inflationary pressures before they reach consumers — rose 0.7% last month from July after increasing 1% in both June and July.
FRANKFURT, Germany (AP) — Annual inflation equaled 10-year high in Europe in August, boosted by more expensive fuel and supply chain disruptions. Economists say the jump is temporary, but it could raise questions about how persistent higher inflation might turn out to be.
NEW YORK (AP) — Wall Street rallied to records on Friday after the head of the Federal Reserve said it's still far from pulling interest rates off the record low that's helped markets soar, even if it does begin dialing back its support for the economy later this year.
WASHINGTON (AP) — Growth in U.S. consumer spending slowed in July to a modest increase of 0.3% as infections from the delta variant spread, while inflation over the past 12 months hit its fastest pace in three decades.
WASHINGTON (AP) — Not long ago, anticipation was high that Federal Reserve Chair Jerome Powell might begin to sketch out a plan this week for the Fed to start pulling back on its support for an economy that has been steadily strengthening.
How often have we been told by people who cannot see beyond their noses that "everything is under control"? The latest example of such myopia is the attempt to brush off inflation as " transitory " when clearly, it almost certainly is not.
Climate change: decarbonisation to stoke inflation, but delaying efforts could hit economic growth, returns
Government policies to mitigate the impact of climate change will stoke inflation, but delaying them could depress economic growth and investment returns, according to investment strategists.
BRASILIA, Brazil (AP) — Brazilian President Jair Bolsonaro has begun expressing irritation at the central bank’s newfound autonomy as surging inflation presents a threat to his 2022 reelection prospects, government officials told The Associated Press.
WASHINGTON (AP) — Federal Reserve officials last month discussed the idea of beginning to dial back their extraordinary support for the U.S. economy later this year, though they stopped short of a firm decision on a timetable.
LONDON (AP) — Job vacancies in the U.K. have spiked to their highest recorded level, official figures showed Tuesday, in a further sign that the British economy is rebounding more than anticipated following the lifting of coronavirus restrictions.
WASHINGTON (AP) — Inflation at the wholesale level jumped a higher-than-expected 1% in July, matching the rise from the previous month, and dimming hopes that the upward trajectory of prices would begin to slow.
NEW YORK (AP) — How to cope with the higher inflation sweeping the economy? For Corporate America, the answer so far is simple: Raise prices.
Companies are charging more for everything from diapers to auto parts, more than covering their own higher costs.
WASHINGTON (AP) — President Joe Biden's administration is moving at home and abroad to try to address concerns about rising energy prices slowing the nation's recovery from the pandemic-induced recession.
WASHINGTON (AP) — Prices for U.S. consumers rose last month but at the slowest pace since February, a sign that Americans may gain some relief after four months of sharp increases that have imposed a financial burden on the nation's households.
SINGAPORE (AP) — Asian stocks were mixed on Wednesday ahead of U.S. inflation data offering a glimpse at how the world’s largest economy is recovering.
The Nikkei 225 in Tokyo rose 0.7% to 28,069.28 and the Shanghai Composite Index added 0.1% to 3,532.23.
WASHINGTON (AP) — A prominent Democratic senator, saying he is concerned about inflation, is urging the Federal Reserve to start trimming its monthly bond purchases.
LONDON (AP) — The Bank of England indicated Thursday that interest rates may be on the up soon as it painted a fairly rosy picture about the near-term prospects for the British economy following the lifting of lockdown restrictions in the wake of the rapid rollout of coronavirus vaccines.
PRAGUE (AP) — The Czech Republic’s central bank has increased its key interest rate by a quarter-point to 0.75% to tackle inflation amid the economy’s rebound from the coronavirus pandemic.
It was the second such increase in about two months.
WASHINGTON (AP) — American consumers increased their spending by 1% in June — a dose of energy for an economy that is quickly rebounding from the pandemic recession but is facing new risks led by the delta variant of the coronavirus.
WASHINGTON (AP) — With inflation uncomfortably high and the COVID-19 Delta variant raising economic concerns, a divided Federal Reserve will meet this week to discuss when and how it should dial back its ultra-low-interest rate policies.
WASHINGTON (AP) — President Joe Biden is banking on the idea of making life more affordable for middle-class families — and that's where the recent bout of inflation poses both a political and an economic risk.
FRANKFURT, Germany (AP) — Facing unease over the spread of a more-contagious variant of the coronavirus, the European Central Bank said it would maintain its stimulus in the form of ultra-low interest rates until inflation “durably” reaches its 2% target.
BEIJING (AP) — Asian stock markets followed Wall Street higher Thursday for a second day as optimism about an economic recovery appeared to outweigh concern over rising coronavirus cases and inflation.
LONDON (AP) — The British government has tripled its pay increase offer for more than a million National Health Service employees in England, but unions said the proposed boost was insufficient given an anticipated spike in inflation.
NEW YORK (AP) — With the U.S. economy humming, corporate profits flowing and stock prices peaking, investors on Wall Street are beginning to pose an anxious question: Is it all downhill from here?
Financial markets are always trying to set prices now for where the economy and corporate profits are likely to be in the future.
BANGKOK (AP) — Shares were mostly lower in Asia on Friday after Wall Street benchmarks extended losses amid uncertainty over rising coronavirus cases and the risks to pandemic recoveries.
Stocks fell in Tokyo, Seoul and Shanghai but rose in Hong Kong.
WASHINGTON (AP) — For anyone watching with concern as prices surge for everything from food and gas to airplane tickets and clothes, the message from Federal Reserve Chair Jerome Powell over two days of congressional hearings this week was straightforward: Just give it more time and those price gains should slow, or even reverse.
TOKYO (AP) — Asian shares were mixed Thursday, taking their cue from a wobbly day of trading on Wall Street.
China reported its economy expanded at a 7.9% annual rate in the last quarter, down from 18.3% in January-March.
WASHINGTON (AP) — Federal Reserve Chair Jerome Powell said Wednesday that inflation, which has been surging as the recovery strengthens, “will likely remain elevated in coming months" before “moderating."
WASHINGTON (AP) — Inflation at the wholesale level jumped 1% in June, pushing price gains over the past 12 months up by a record 7.3%.
The Labor Department reported Wednesday that the June increase in its producer price index, which measures inflation pressures before they reach consumers, followed a gain of 0.8% in May and was the largest one-month increase since a 1.2% rise in January.
LONDON (AP) — Official figures show inflation in the U.K. rising to its highest level in nearly three years because of increases in the prices of food and motor fuel.
The Office for National Statistics said Wednesday that the annual rate of inflation rose to 2.5% in June from 2.1% the previous month.
TOKYO (AP) — Asian shares were mostly lower on Wednesday, tracking a decline on Wall Street as investors weighed the latest quarterly earnings reports from big U.S. companies and data pointing to rising inflation.