Car prices kept sliding in August — among the most of any major category in the Consumer Price Index (CPI) over the last year — as vehicle prices move towards pre-pandemic levels.
The paltry CPI report means the Fed will likely only cut interest rates by a quarter percentage point. Wall Street, for whatever reason, isn't cheery.
The latest Consumer Price Index report released Wednesday showed that housing inflation still isn't easing.
(Bloomberg) -- Gold fell after a key economic report showed underlying US inflation unexpectedly picked up in August as housing costs accelerated, lowering the possibility of an outsize Federal Reserve interest-rate cut next week.Most Read from BloombergHow Americans Voted Their Way Into a Housing CrisisAfter a Record Hot Summer, Pressure Grows for A/C MandatesChicago Halts Hiring as Deficit Tops $1 Billion Through 2025For Tenants, AI-Powered Screening Can Be a New Barrier to HousingUC Berkeley
(Bloomberg) -- Sign up for the Economics Daily newsletter to discover what's driving the global economy.Most Read from BloombergHow Americans Voted Their Way Into a Housing CrisisAfter a Record Hot Summer, Pressure Grows for A/C MandatesChicago Halts Hiring as Deficit Tops $1 Billion Through 2025For Tenants, AI-Powered Screening Can Be a New Barrier to HousingUC Berkeley Gives Transfer Students a Purpose-Built Home on CampusUnderlying US inflation unexpectedly picked up in August on higher price
The Consumer Price Index (CPI) increased 2.5% over the prior year in August, a deceleration from July's 2.9% annual gain in prices.
(Bloomberg) -- Israel’s finance ministry slashed its projection for growth for 2024, underlining the strain the almost year-long war against Hamas has put on the country’s economy.Most Read from BloombergHow Americans Voted Their Way Into a Housing CrisisWorld's Second Tallest Tower Spurs Debate About Who Needs ItThe Plan for the World’s Most Ambitious Skyscraper RenovationUC Berkeley Gives Transfer Students a Purpose-Built Home on CampusRome May Start Charging Entry to the Trevi FountainGross d
(Bloomberg) -- Mexico’s annual inflation slowed roughly in line with expectations in August as a spike in food and energy prices faded, giving the central bank more room to consider another interest rate cut this month.Most Read from BloombergHow Americans Voted Their Way Into a Housing CrisisWorld's Second Tallest Tower Spurs Debate About Who Needs ItThe Plan for the World’s Most Ambitious Skyscraper RenovationUC Berkeley Gives Transfer Students a Purpose-Built Home on CampusRome May Start Char
(Bloomberg) -- Colombian rebels have reopened their war on the oil industry with a wave of pipeline attacks that sent crude spilling into rivers and clouds of black smoke billowing into the sky.Most Read from BloombergHow Americans Voted Their Way Into a Housing CrisisWorld's Second Tallest Tower Spurs Debate About Who Needs ItThe Plan for the World’s Most Ambitious Skyscraper RenovationUC Berkeley Gives Transfer Students a Purpose-Built Home on CampusRome May Start Charging Entry to the Trevi F
An Omani state-run oil and gas company announced Monday it will make an initial public offering of its exploration and production business, potentially seeking billions in a major move toward privatization in the sultanate. OQ, formerly known as the Oman Oil Co., follows moves by the Saudi oil giant Aramco and the Abu Dhabi National Oil Co. to seek to raise money through the markets. It also could provide a boost for its local Muscat Stock Exchange, long viewed as being the sleepiest among the Gulf Arab states.