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To combat inflation, the central bank quickly increased the federal funds rate to pressure borrowing and spending activity. But December's CPI print of 2.9% is still 45% higher than the Fed's 2% ...
Annual inflation ticked up for a third straight month in December as food, energy costs rose, CPI report showed. But underlying price measure eased. Inflation rose to 5-month high in December.
Those cuts lowered the central bank’s key rate to 4.6%, down from a four-decade high of 5.3%. Though inflation is now way below its peak of 9.1% in June 2022, ...
Even if you toss out volatile food and energy prices, so-called core inflation jumped 6% over the past year. That was also the sharpest such jump in four decades. Consumers felt the price squeeze ...
Inflation in New Zealand exceeded forecasts in July 2022, reaching 7.3%, which is the highest since 1990. [233] Economists at ANZ reportedly said they expected faster interest rate increases to counteract inflationary pressures. [234] In Fiji, inflation rose to 4.7% in April 2022 compared to –2.4% in 2021. [235]
The inflation of the 1970s and early 1980s peaked at 14.8% in March 1980 before the Fed exorcized high prices with aggressive rate hikes that caused brutal back-to-back recessions in 1980 and 1981 ...
Even at its worst last summer, inflation in the US was a drop in the bucket compared to what people in some less developed economies have been living with for years.
The latest figures suggest that slowing inflation is now losing some momentum. Inflation hasn’t improved for 10 months, when the annual rate hit 3 percent for the first time in June 2023.