The inflation rate in May reached its lowest level in over two years, according to a report from the Labor Department. This development is expected to relieve pressure on the Federal Reserve to continue increasing interest rates. The consumer price index (CPI), which measures changes in goods and services, only rose by 0.1% for the …
After more than a year of consistently increasing rates, the Federal Reserve decided to maintain its target federal funds rate on Wednesday. However, this offers little relief for households who continue to face high borrowing costs. Economist Tomas Philipson predicts that rates will not decrease and, in fact, borrowing costs are likely to climb even …
The Federal Reserve is expected to take a break from its 10-meeting streak of raising interest rates and let the US economy catch its breath. Market analysts have priced in a high probability that central bank policymakers will opt to “skip” rather than pause at this month’s meeting as they evaluate the impact of 5 …
Housing has a prominent role to play within the consumer price index, which is one of the most significant inflation indicators. As shelter is the most expensive cost for the average American household, it accounts for over a third of the CPI weight, providing it with a disproportionate impact on inflation data. For many months, …
As the largest rail strikes in a generation loom, the British economy and its manageability is losing public faith. Predictions of zero or very low growth over the coming years and higher, more persistent inflation in comparison to other developed nations are fueling concerns. In light of the recent industrial action, the government’s unwillingness to …
The Bank of Canada’s deputy governor, Paul Beaudry, gave a speech to the Greater Victoria Chamber of Commerce, stating that recent economic data suggested an increase in the risk of “sticky inflation.” This was the driving force behind the central bank’s decision to raise interest rates by a quarter of a percentage point, bringing it …
Kay and Curtis Ballance celebrated their dream wedding day with homemade pizzas, 15 intimate guests, and a small ceremony in their backyard during -35 C weather. The happy couple tied the knot in February, just seven weeks after the birth of their first daughter. While they initially wanted a courthouse wedding with no guests, they …
Traders are indicating that the Federal Open Market Committee of the Federal Reserve will likely pause in interest rate hikes at their upcoming meeting, which coincides with a potential new bull market. Last week, the Dow Jones Industrial Average and NASDAQ Composite experienced positive trends, with major indices surpassing their moving averages. Despite excitement over …
April saw a decline in inflation, with the consumer price index rising only 4.9% compared to the same period last year, marking the smallest increase since April 2021. This signals a deceleration of prices for household staples and an overall moderation of price pressures for consumers from multidecade-high levels. Policymakers aim to keep inflation at …
The consumer price index (CPI) measures inflation rates based on several consumer categories, but housing has the most significant impact. Housing accounts for more than one-third of the weighting in the CPI, which makes it the largest expense for an average US household, according to economists. The pandemic led to a hike in housing costs, …