Consumer price index September 2022:

Prices consumers pay for a wide variety of goods and services rose more than expected in September as inflation pressures continued to weigh on the US economy. The consumer price index increased 0.4% for the month, more than the 0.3% Dow Jones estimate, according to the Bureau of Labor Statistics. On a 12-month basis, so-called … Read more

Another big Fed rate hike is coming. But how many more after that?

A version of this story first appeared in CNN Business’ Before the Bell newsletter. Not a subscriber? You can sign up right here. New York CNN Business — The Federal Reserve is widely expected to raise interest rates by a half of a percentage point for the second consecutive time at the end of its … Read more

Joe Biden jabs Exxon Mobil over gas prices after May CPI inflation report

President Joe Biden slammed Exxon Mobil on Friday for what he described as the oil giant’s greedy reluctance to produce more petroleum, just hours after US economists said inflation in May rose at levels not seen since the early 1980s. Asked by a reporter if his administration has plans to “go after” oil company profits, … Read more

Inflation rises at fastest pace in 40 years, pushed up by record gas prices

CNN — The pain of higher prices continues for US consumers. Record gas prices inflation drove to 8.6% for the 12 months ending in May, higher than the pace in April, according to the latest Consumer Price Index, the government’s basic inflation measure. The reading for core CPI, which strips out volatile food and energy … Read more

The Fed’s favorite inflation gauge rose 5.2% in March as worker pay fell further behind

Canned goods are displayed at a Safeway store on April 11, 2022 in San Anselmo, California. Justin Sullivan | Getty Images To measure that the Federal Reserve focuses on to gauge inflation rose in March, likely cementing the central bank’s intention to hike interest rates by half a percentage in May. The core personal consumption … Read more