Economy

The consumer-price index rose 4% in May from a year earlier, well below the recent peak of 9.1% last June and down from April’s 4.9% increase.

A rate hiking pause, and even a halt, just got more likely.

Inflation dropped in May, reaching nearly half of its peak last Summer. And while the decrease could cause the Fed to pause its rate hikes in June, the rate hikes could continue this year.

With signs that inflation may be cooling it is imperative for Americans to make the right financial moves now.

Average wages grew faster in May than prices. It could be the start of some economic momentum for workers who have struggled to keep up.

The number of Americans filing new claims for unemployment benefits surged to the highest level in more than 1-1/2 years last week, but layoffs are probably not accelerating as the data covered the Memorial Day holiday,

Mhairi Black said UK interest rates were among the highest in the G7 and mortgages rates were rising, despite the claims of economic stability from Rishi Sunak. Oliver Dowden pointed out that the Organisation for Economic Co-operation and Development (OECD) had upgraded its growth forecast for the UK.

Air New Zealand’s SkyNest, the upcoming reimagined economy class seating offering bunk beds in the skies, was among the winners at this year’s Crystal Cabin Awards, which celebrate innovation in airplane cabin interiors.

A coalition of Thai pro-democracy parties said a faster certification of the results of the May 14 vote can pave the way for an early government formation as it’s key to a non-disruptive budget transition to stimulate Southeast Asia’s second-largest economy.

The commercial real estate market could see prices fall 40% this year due to several headwinds, including high interest rates and a possible credit crunch.

President Biden's surprise tumble last week represents a metaphor for the "falling, stumbling" U.S. economy, former CKE Restaurants CEO Andy Puzder claims.

In March, investment bank Goldman Sachs predicted in a report that AI could eventually replace 300 million full-time jobs globally and affect nearly one-fifth of employment — with a particular hit to white-collar jobs often considered automation-proof, such as administrative and legal professions.

The US labor market picked up momentum in May, once again defying expectations of a slowdown. But Federal Reserve officials are still likely to suspend rate hikes in their upcoming policy meeting because of broader trends pointing to a weakened economy later in the year.

The May jobs report released Friday provided a key look at the labor market's health amid the Federal Reserve's aggressive interest rate-hike campaign.

For months, employers have churned out jobs at a rate that has baffled economists. And the labor market has propelled the economy through a barrage of forces that would normally weigh on jobs creation.

U.S. hiring accelerated in May as employers added a booming 339,000 jobs and the labor market continued to shrug off high interest rates and persistent inflation.

Prices seemed to be coming down, but recent data signal that the end of elevated inflation remains elusive. The consumer price index (CPI) rose 4.9% in April from a year prior. This is below the generational high of 9.1% in June 2022.

The strength in new home sales was also driven by a massive jump in sales in the south. Overall, new home sales are trending higher as buyers grapple with a low level of home listings in the existing home sales market.

In April, sales of existing homes — which include single-family homes, townhomes, condominiums and co-ops — dropped 3.4% from March. Annually, sales were down 23% from a year ago and the seasonally adjusted annualized sales pace dropped from 5.57 million units a year ago to 4.28 million in April.

The U.S. leading economic index fell 0.6% in April, according to the nonprofit Conference Board. The index, which dropped 1.2% in March, has now declined for 13 consecutive months, indicating that the U.S. economy continues to inch toward a potential recession.

The number of first-time claims for weekly jobless benefits fell last week to 242,000, down 22,000 from 264,000 the week before, according to data published Thursday by the Department of Labor.

Continuing claims, which are filed by people who have received jobless benefits for more than one week, dipped to 1.799 million for the week ended May 6 from a revised 1.807 million the week prior.

The number of new home construction projects rose 2.2% in April from the month before, according to the Commerce Department. Permits for new single-family homes rose too.

Housing starts are still way down since this time last year, but the recent uptick in construction is telling us there’s a lot of demand for new homes.

Retail sales increased 0.4% in April from March when it was down 0.7%. It marked the first increase since January when unusually warm weather and a big jump in Social Security benefits likely spurred more spending.

April’s slight rebound further illustrates the difficulty the Federal Reserve has had in bringing inflation under control.

Compared to the prior year, sales were up 1.6% above April, 2022. Total sales, including food services, were $686.1 billion for April.

Inflation slowed for a tenth straight month in April as another drop in grocery bills offset a rebound in gasoline costs, providing some relief to Americans squeezed by a two-year run-up in prices.