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The US Federal Reserve believe the US economy had recovered enough from the pandemic downturn that interest rate hikes could come sooner than expected

Fed sees rate hikes 'sooner' as inflation spikes

US Federal Reserve officials last month were concerned about the Omicron impact, but believed the US economy had recovered enough from the pandemic downturn that interest rate hikes could come sooner than expected.

Business • 06 Jan 22

US retail sales rose 1.7% in October, new figures show today

Price hikes and shortages don't stop US shoppers

Retail sales remained brisk at American businesses last month, despite shortages of some goods and a wave of inflation that has pushed prices higher, government data released today showed.

Business • 16 Nov 21

A rise in US oil stocks after a government release of some strategic reserves put further pressure on prices

Oil extends losses triggered by US inflation fears

Oil prices dropped to $82 a barrel today, extending sharp falls triggered by concerns over rising US inflation while OPEC cut its 2021 oil demand forecast due to high energy prices.

Business • 11 Nov 21

The US consumer price index rose 0.9% last month after gaining 0.4% in September, the Labor Department said today

US consumer prices surge on higher fuel, food costs

US consumer prices increased more than expected in October as the cost of petrol and food surged, leading to the biggest annual gain since 1990.

Business • 10 Nov 21

The Commerce Department's personal consumption expenditures (PCE) price index was up 4.3% in August compared to the same time last year

US prices rose 4.3% annually in August

Inflation continued to rise in the US in August, while spending and incomes also climbed, according to government data released today.

Business • 01 Oct 21

The US Consumer Price Index, excluding the volatile food and energy components, edged up 0.1% last month - the smallest gain since February

US consumer prices slow sharply in August

Underlying US consumer prices increased at their slowest pace in six months in August, suggesting that inflation had probably peaked, though it could remain high for a while amid persistent supply constraints.

Business • 14 Sep 21

US Federal Reserve Chairman Jerome Powell

US inflation to remain high for months before falling

US inflation will remain "elevated" in coming months but will decline once supply bottlenecks and other temporary issues are resolved, Federal Reserve Chair Powell said today.

Business • 14 Jul 21

The recent jump in US inflation was higher than Federal Reserve officials had expected, according to minutes from the latest Fed meeting

Fed surprised by higher than expected inflation spike

Rising prices amid the recovery from the pandemic shutdown were predicted, but the recent jump in US inflation was higher than Federal Reserve officials had expected, according to minutes from the latest Fed meeting.

Business • 08 Jul 21

Consumer spending accounts for more than two-thirds of US economic activity

US consumer spending takes a breather in May

US consumer spending was unchanged in May, as shortages hurt purchases of goods like cars, but the supply constraints helped to boost inflation.

Business • 25 Jun 21

US inflation climbed 3.6% in April compared to the same month last year

US prices jump 3.6% in April compared to April 2020

US inflation climbed 3.6% in April compared to the same month in 2020 as prices recovered from the mass business disruptions caused by the Covid-19 pandemic, according to government data released today.

Business • 28 May 21

Fed's Powell pledges low rates until inflation hits 2%

US Federal Reserve Chair Jerome Powell has today pledged that the bank will keep benchmark lending rates low until the economy is at full employment and inflation has risen consistently.

Business • 23 Feb 21

Fed touts economic recovery, vows to keep rates low

The Federal Reserve has vowed to keep interest rates near zero until inflation is on track to overshoot its 2% target, a bold new promise aimed at bringing millions of out-of-work Americans back to the labour market.

Business • 17 Sep 20

The US consumer price index fell in April by a seasonally adjusted 0.8% - its largest month-on-month fall since December 2008

Virus, low oil prices take toll on April US inflation

Falling prices for just about everything besides food sent US inflation dropping in April by the largest amount since the global financial crisis in 2008, government data showed today.

Business • 12 May 20

US consumers spent less on fuel, groceries and building supplies while they also bought less online in September

US consumers hit the brakes in September

US consumers tightened their purse strings unexpectedly last month, breaking a seven-month winning streak, government data showed today.

Business • 16 Oct 19

The Labor Department's Consumer Price Index rose by a weaker than expected 0.3% in April compared to March

US consumer inflation nudges higher on dearer fuel

A key measure of US consumer inflation in April took its biggest jump in five months as prices for fuel, shelter and medical care rose, government data showed today.

Business • 10 May 19

Consumer spending, which accounts for more than two-thirds of US economic activity, surged by 0.9% in March

US consumer spending posts biggest increase since 2009

US consumer spending increased by the biggest gain in more than nine and a half years in March, but price pressures remained muted, with a key inflation measure posting its smallest annual gain in 14 months.

Business • 29 Apr 19

US consumer inflation saw its slowest annual pace more than two years in February, new figures show

US consumer prices cool in February

The falling price of energy drove US consumer inflation in February to its slowest annual pace more than two years, according to government data released today.

Business • 12 Mar 19

US Federal Reserve chief Jerome Powell appeared before a US Senate Banking Committee today

US inflation to fall further below 2% target - Powell

Despite solid growth and continuing job gains, the US economy will see inflation fall even further below the Fed's 2% goal, at least for a time, Federal Reserve Chairman Jerome Powell said today.

Business • 26 Feb 19

US inflation falls to its lowest pace in over a year on the back of lower fuel prices

Fuel prices drive US consumer prices lower in December

Falling fuel prices in December pushed US inflation to its slowest pace in more than a year, masking steady gains in food and shelter costs, the government said today.

Business • 11 Jan 19

The consumer price gains come as President Donald Trump redoubles his trade wars with major US trading partners

US consumer inflation stays at 6 year record in June

Rising prices for food, fuel, shelter and medical needs kept the annual measure of US consumer inflation at a six-year high in June, the Labor Department said today.

Business • 12 Jul 18

The US Fed reaffirmed that it expected to continue on a path of 'further gradual increases' in the benchmark lending rate

Federal Reserve leaves key interest rate unchanged

The US Federal Reserve kept its key interest rate unchanged as expected last night and at the same time signaled that policymakers were not overly concerned by the recent uptick in inflation.

Business • 03 May 18

The US Consumer Price index, which tracks the costs of household goods and services, rose 0.2% in February

US consumer price gains ease in February

US consumer inflation rose more slowly in February, cooling from January's sudden jump, with steady gains in clothing prices and rent, the government said today.

Business • 13 Mar 18

Gasoline prices fell in December after a big jump the previous month

Energy prices hold US consumer inflation to 0.1%

Falling energy prices held down US consumer price increases in December, while inflation for all of 2017 was steady or even lower than 2016, according to government data released today.

Business • 12 Jan 18

Most of last month's increase in US inflation was driven by energy prices which rose 3.9%

Energy costs push US inflation above Fed target

Mounting petrol prices helped drive US consumer inflation higher in November, pushing the annual measure above the Fed Reserve's target, according to a government report today.

Business • 13 Dec 17

US inflation soared to an eight-month high in September

Revived car sales push US retail sales to two year high

Booming car and petrol sales in September pushed the US retail sector to its highest level in more than two years, the Commerce Department said today.

Business • 13 Oct 17

Us Inflation