Inflation picked up its already red hot pace in October, with the Commerce Department reporting today that the headline Personal Consumption Expenditures (PCE) index surged 5.0 percent over the year, vaulting to a level not seen since 1990 and reinforcing broader concerns about the persistence of inflationary pressures. Meanwhile, the core PCE inflation index, which excludes…
Key Inflation Gauge Shows Prices Accelerating at Fastest Pace Since 1990
Japan PM Confirms Oil Reserves May Be Released to Curb Prices
November 20, 2021
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Asia & PacificBusiness & EconomyBusinesses in COVID-19ChinaChina Business & EconomyCompanieseconomic policiesEconomieseconomyfumio kishidaGold & CommoditiesInternationalJapanMarketsMiddle EastOilpricesreservesUSWorld
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TOKYO—Japan is considering releasing oil from its reserves for the first time to curb surging oil prices, Kyodo news agency reported on Saturday, as Prime Minister Fumio Kishida signaled his readiness to counter oil price hikes following a request from the United States. However, Japan may struggle to justify such a move, as under its…
Zillow Faces Shareholder Lawsuit Over Folded House Flipping Effort
November 18, 2021
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Real estate company Zillow faces a federal lawsuit claiming the company misled investors, leading to financial losses as it ended its house flipping program. The lawsuit was filed Tuesday in the U.S. District Court for the Western District of Washington at Seattle. The case is the first federal filing, joining two Boston-area firms in legal…
Prices Continue to Surge: Here’s What’s Becoming More Expensive
With inflation running hot in October, American consumers paid slightly more for most goods and services compared to the previous month, and far more compared to a year ago. The Labor Department’s consumer price index (CPI), a key inflation gauge that measures how much Americans pay for goods and services, rose 0.9 percent over the month…
Euro Zone Producer Prices Make Record Jump in September: Eurostat
BRUSSELS—Euro zone producer prices jumped in September more than expected, driven by skyrocketing energy costs, recording their highest increase on record in a new sign of strong inflationary pressures in the bloc, public data showed on Thursday. The European Union’s statistics office Eurostat estimated that prices at factory gates in the 19 countries sharing the…
UK House Prices Show Unexpected Strength in October: Nationwide
LONDON—British house prices rose last month at a faster rate than expected as robust demand and a lack of new homes coming to the market kept up momentum, a survey showed on Wednesday. Mortgage lender Nationwide said house prices rose by 0.7 percent in monthly terms in October after a 0.2 percent rise in September….
US Gasoline Prices Rise to Fresh 7-Year High
Prices of regular gasoline in the United States have risen to a new seven-year high, though a slight dip in domestic demand meant that the recent rise was the smallest increase in a month. For the week of Nov. 1, the national average for a gallon of regular gasoline rose to a seven-year high of…
Relentless Shortages, High Prices Hamper US Manufacturing
November 1, 2021
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Business & EconomyChinaChina Business & EconomyCompaniesEconomieseconomyInternationalISMmanufacturingoctoberpricesshortagesUSUS NewsWorld
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WASHINGTON—U.S. manufacturing activity slowed in October, with all industries reporting record-long lead times for raw materials, indicating that stretched supply chains continued to constrain economic activity early in the fourth quarter. The Institute for Supply Management (ISM) survey on Monday also hinted at some moderation in demand amid surging prices, with a measure of new…
Fed’s Preferred Inflation Gauge Shows Price Pressures Stuck at 30-Year High 4th Month In a Row
Inflation continued to run red hot in September, with the Commerce Department reporting that the headline Personal Consumption Expenditures (PCE) index surged 4.4 percent over the year, to a level not seen since 1991. Meanwhile, the core PCE inflation index, which excludes the volatile categories of food and energy and is the Federal Reserve’s preferred…
European Consumer Prices Hit Highest Level in Over 13 Years
LONDON—Consumer prices across the 19 European Union countries that use the euro currency have spiked to the highest level in over 13 years on the back of soaring energy prices and pent-up demand during the pandemic recovery, official figures showed Friday. Eurostat, the European Union’s statistics agency, said inflation across the bloc rose to 4.1…
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