The central bank’s action lowered its key rate to roughly 4.8 percent, down from a two-decade high of 5.3 percent, where it had stood for 14 months as it struggled to curb the worst inflation streak in four decades.
Democrat Sarah Corkery tells a Cedar Rapids crowd that an independent candidate also running in the congressional race could siphon votes from incumbent Republican U.S. Rep. Ashley Hinson.
Last week, McDonald's said that it was planning to introduce a $5 meal deal in the U.S. next month to counter slowing sales and customers’ frustration with high prices. Walmart posted strong quarterly sales last week, driven by a influx of customers looking for bargains.
Polls show that despite a healthy job market, a near-record-high stock market and the steady drop in inflation, many Americans blame Biden for high prices.
Consumer prices in the United States picked up last month, a sign that inflation remains a persistent challenge for the Federal Reserve and for President Joe Biden’s re-election campaign, both of which are counting on a steady easing of price pressures this year.
On Tuesday, fresh retail sales data from Mastercard showed that consumers spent big on gifts, meals and apparel in November and December despite inflation's lingering bite.
Compared with a year earlier, prices were up 3.1% in November, down from a 3.2% year-over-year rise in October.
How is it that two convenience stores across the street from one another can have different gas prices? And why can one town’s gas pumps have consistently higher prices per gallon than another town in the same county?
Thursday's announcement follows this year’s 8.7% benefit increase, brought on by record 40-year-high inflation, which pushed up the price of consumer goods.
The 2024 Republican presidential candidate stopped Wednesday in Independence as part of a three-day campaign swing through the state.
A Tama town hall Tuesday was her 29th town hall since being elected to Congress in 2020, and her ninth in-person town hall this year.
When measured against prices a year ago, inflation has been easing for eight months. In February, consumer prices climbed 6% from 12 months earlier, down from January’s 6.4% year-over-year increase and well below a recent peak of 9.1% in June. Yet it remains far above the Fed’s 2% annual inflation target.
Inflationary pressures may be starting to ease, but higher prices throughout much of 2022 are still taking a toll on older adults, with a larger share of people saying they felt their finances were worse off than a year before. Consumer inflation in November was still up 7.1 percent from a year earlier.
Democrats running for Iowa governor and a northeast Iowa U.S. House seat spent Wednesday afternoon trying to the turn out the vote among students on the campus of Coe College.
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