Producer prices spiked last month, another sign of rising inflation in the U.S., according to new federal data.
The U.S. Bureau of Labor Statistics on Thursday released its monthly Producer Price Index, a leading marker of inflation, which showed an increase of 0.6% in February, more than expected.
Read More
The Houthi attacks against commercial vessels in the Red Sea are threatening to disrupt U.S. and global markets with delayed shipping times and increased good prices, The Washington Post reported.
The Yemen-based Houthis have launched several attacks since Oct. 7 against vessels in the Red Sea as part of retaliation efforts against Israel and its allies. In an effort to avoid the Houthis, commercial vessels are now taking longer routes to reach their destinations, resulting in delays and higher shipping costs, and ultimately increased prices for consumer goods in the U.S. and across the world, according to the Post.
Read More
Inflation ticked slightly down year-over-year in November but continued to remain well above the Federal Reserve’s target, 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 3.1% on an annual basis in November, compared to 3.2% in October, according to the BLS. Core CPI, which excludes the volatile categories of energy and food, remained high, rising 4.0% year-over-year in October, compared to 4.0% in October.
Read More
Prices for electricity in the United States soared well above overall inflationary levels last year, putting an added squeeze on consumers already reeling from significantly inflated costs of most consumer goods. The Consumer Price Index Summary released by the U.S. Bureau of Labor Statistics this month showed the 12-month average price of electricity last month jumping a whopping 14.3 percent, more than double the 6.5 percent of overall price increases.
Read More
President Joe Biden touted falling food prices Thursday, but the latest federal data shows the price of food is actually on the rise and has been for more than a year. The U.S. Bureau of Labor Statistics released new inflation data Thursday that showed the overall consumer price index dropped 0.1%, driven in part by a decrease in energy prices.
Read More
Food prices soared in 2022, and so far there are few solutions on the horizon for 2023.
The latest Consumer Price Index Data from the Bureau of Labor Statistics found that grocery prices increased 12% in the previous 12 months, far higher than the already elevated inflation rate.
Read More
Wholesale inflation exceeded economists’ expectations year-over-year in September, according to the Bureau of Labor Statistics’ (BLS) Producer Price Index (PPI), with core prices staying high despite efforts from the Federal Reserve to rein in inflation.
The index increased 0.4% for the month, while the Dow Jones had only estimated a 0.2% gain; prices rose 8.5% year-on-year for final demand goods and services, down from 8.7% in August but higher than expectations of an 8.4% increase, according to the BLS. Final demand prices not including food and energy, or “core” prices, rose 7.2% year-on-year in September.
Read More
Inflation continued its steady rise in April, when the Consumer Price Index increased 8.3% over last year, according to data released Wednesday by the U.S. Bureau of Labor Statistics.
For the month, the CPI rose 0.3%. That’s down from the 1.2% spike in March, but higher than analysts expected. The 8.3% increase over last year remains near 40-year highs, the bureau reported.
Read More