Tag: US economy

US consumer inflation slowed to a still-high 8.2% over the past 12 months, keeping pressure on households!

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Inflation accelerated in the United States in September, as the cost of housing and other necessities added pressure on households, wiping out wage gains for many and ensuring that the Federal Reserve would keep raising interest rates aggressively. On Thursday, the government said consumer prices rose 8.2% in September from a year earlier. On a monthly basis, prices rose 0.4% from August to September after rising 0.1% from July to August. However, with the exception of the volatile categories of food and energy, so-called core inflation jumped last month –…

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US economy 2022: Houston ranks among cities with top 10 highest inflation rate in US, new study says!

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byJohn Egan Across Houston, Texas — By now, everyone has heard a lot about the nine-letter word that’s on everyone’s mind these days – inflation. This reflects rising prices for everything from gas, groceries and cars to healthcare, along with declining purchasing power. The video above is a breakdown of the inflation. In August, the US inflation rate was 8.3%, according to US Bureau of Labor Statistics. That’s down from a four-decade high of 9.1% in June. For consumers in Houston, though, inflation is still higher than the average in…

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Inflation Rate: US economy will likely need drastic action from the Federal Reserve as food and shelter prices soar!

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New York City — Inflation in the US is showing signs of entering a more stubborn phase that will likely require tough action by the Federal Reserve, a shift that has panicked financial markets and raised the risks of a recession. Some of the old drivers of high inflation—rising gas prices, the hustle of supply chains, and soaring used-car prices—are fading. However, basic measures of inflation are actually getting worse. The continuing development of the forces behind the inflation rate, which is approaching its highest level in four decades, has…

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America’s employers slowed their hiring in August in the face of rising interest rates!

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Washington – US employers slowed hiring in August in the face of rising interest rates, high inflation and slowing consumer spending, all of which dampened the outlook for the economy. The government reported Friday that the economy added 315,000 jobs last month, down from 526,000 in July and below the average gain of the previous three months. The unemployment rate rose to 3.7%, from a half-century low of 3.5% in July, as more Americans moved away from the sidelines to look for jobs and did not immediately find work. The…

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