A man shops for fruit at a grocery store on February 01, 2023 in New York City. Leonardo Munoz | Corbis News | Getty Images This report is from today’s CNBC Daily Open, our international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they … Read more
Gas prices are displayed at a gas station on March 12, 2024 in Chicago, Illinois. Scott Olson | Getty Images From consumer and wholesale prices to longer-term public expectations, reports this week served up multiple reminders this week that inflation isn’t going away anytime soon. Data across the board showed pressures increasing at a faster-than-expected … Read more
A man shops for fruit at a grocery store on February 01, 2023 in New York City. Leonardo Munoz | Corbis News | Getty Images This report is from today’s CNBC Daily Open, our international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they … Read more
Euros, U.S. dollars, Canadian dollars, Russian rubles and Czech korunas lie on a table as banknotes. Picture Alliance | Picture Alliance | Getty Images As inflation loosens its grip in most economies, investors are closely monitoring interest rate decisions, with markets expecting a slew of rate cuts this year. While rates in most economies are … Read more
The Consumer Price Index for February, which measures changes in the cost of food, housing, gasoline, utilities and other goods, rose by 3.2% over the past 12 months. Markets and experts had expected the figure to be around 3.1%. So what does inflation have to do with mortgage rates? Historically speaking, when inflation rises and … Read more
Inflation rose again in February, keeping the Federal Reserve on course to wait at least until the summer before starting to lower interest rates. The consumer price index, a broad measure of goods and services costs, increased 0.4% for the month and 3.2% from a year ago, the Labor Department’s Bureau of Labor Statistics reported … Read more
IKEA lowers prices on items worldwide. Nurphoto | Nurphoto | Getty Images Swedish home and furniture company Ikea has been cutting prices across a number of countries as global inflation eased, as it boosts its investments in price reductions. The company is further expanding its price cuts in 2024 across all of its markets globally, … Read more
Hispanolistic | E+ | Getty Images Don’t expect the sofa you buy today to go the distance. “In the last 15 years, there’s been a shift to disposable furniture,” according to David Koehler, chairman of Johnny Janosik, a furniture retailer with stores in Delaware, Maryland and Virginia. For most consumers, that’s okay. Attitudes have … Read more
Job creation topped expectations in February, but the unemployment rate moved higher and employment growth from the previous two months wasn’t nearly as hot as initially reported. Nonfarm payrolls increased by 275,000 for the month while the jobless rate moved higher to 3.9%, the Labor Department’s Bureau of Labor Statistics reported Friday. Economists surveyed by … Read more
European Central Bank policymakers on Thursday lowered their annual inflation and growth forecasts, as they confirmed a widely expected hold of interest rates. Staff projections now see economic growth of 0.6% in 2024, from a previous forecast of 0.8%. They presented a more positive picture on inflation, with the forecast for the year brought to … Read more