Residents purchase takeout from a restaurant in Admiralty, Hong Kong, on April 22, 2024. (ANDY CHONG / CHINA DAILY) Overall consumer prices in Hong Kong rose 2 percent year-on-year in January, up from the 1.4 percent increase recorded in December 2024, the Census and Statistics Department said on Thursday. The larger increase was attributable to…
Hassett says Trump has “multifaceted plan” to end inflation – CBS News Watch CBS News Kevin Hassett, the director of the National Economic Council and President Trump’s chief economic adviser, says the administration plans to address inflation through tax cuts, reductions in government spending, increased energy production, deregulation and issue-specific policies. Be the first to…
In a holiday-shortened week ahead, Wall Street investors will be focusing on home sales data and the Federal Reserve minutes of January monetary policy meeting. The markets will remain closed on Monday to mark Presidents’ Day. The week will also see other economic data including preliminary PMIs by S&P Global for services and manufacturing, and…
US stock indices were muted on Friday after mixed economic data and as investors awaited more clarity on President Donald Trump’s reciprocal tariff plans. On Thursday, Trump said his economics team will devise plans for reciprocal tariffs on every country taxing US imports, though the directive stopped short of imposing fresh tariffs. At 9:40 am…
Wholesale prices rose more than expected in January — one day after government data showed the pace of inflation for US consumers rose unexpectedly last month. The Labor Department’s Producer Price Index soared 3.4% in January versus a year earlier, blowing past expectations of a 3.2% rise, the Bureau of Labor Statistics said on Thursday….
A gauge of wholesale prices rose more than expected in January, though some details of the report indicated that pipeline inflation pressures are easing. The producer price index, which measures what producers get for their goods and services, increased by a seasonally adjusted 0.4% on the month, compared with the Dow Jones estimate for 0.3%,…
Egg prices continue to soar — if shoppers can even find them in grocery stores. In January alone, the cost of eggs around the U.S. jumped more than 15% from a year ago, five times the overall U.S. inflation rate of 3%, Consumer Price Index data showed on Wednesday. In 2019, consumers could pick up a dozen…
NEW YORK (AP) — Most U.S. stocks fell Wednesday after a report showed inflation is unexpectedly worsening for Americans. The S&P 500 dropped 0.3%, though it had been on track for a much worse loss of 1.1% at the start of trading. The Dow Jones Industrial Average sank 225 points, or 0.5%, while the Nasdaq…
Inflation accelerated in January, CPI report finds – CBS News Watch CBS News Inflation accelerated in January, rising 3% on an annual basis, indicating that the Federal Reserve’s push to drive inflation down to a 2% annual rate has stalled out, at least temporarily. Martin Baccardax joins to discuss. Be the first to know Get…
Eggs for sale at 72.2 cents per egg from a supermarket on Feb. 10, 2025 in Monterey Park, California, U.S. Frederic J. Brown | Afp | Getty Images What do arthouse movies and U.S. interest rates in 2025 have in common? There’s a chance both will have no cuts. The 3% figure for 12-month headline…