Fair 77°
Tag:

Energy prices

Business
Trump: 'I Love The Inflation' As Rate Surges To 3-Year High Trump: 'I Love The Inflation' As Rate Surges To 3-Year High
Trump: 'I Love The Inflation' As Rate Surges To 3-Year High President Donald Trump brushed away concerns about affordability as inflation surged above 4% for the first time in three years, fueled by skyrocketing energy prices amid the US-Israeli war with Iran. Trump made the comments to reporters in the Oval Office on Wednesday, June 10. His remarks came hours after new Bureau of Labor Statistics data showed the annual inflation rate reached 4.2% in May, marking the highest reading since April 2023. As a reporter asked him about the latest numbers, Trump seemed unbothered by rising inflation. "No, I love it," he said. …

SHARE

by Chris Spiker
Business
Supply Shock Spreads To US: What It Means For You Supply Shock Spreads To US: What It Means For You
Supply Shock Spreads To US: What It Means For You The supply shock caused by the ongoing standoff in the Strait of Hormuz is spreading to the United States, driving up energy prices, increasing shipping costs, and creating shortages in key goods and materials.  The crisis, which began after the US-Israel attack on Iran started at the end of February, has brought shipping through the critical waterway to a near standstill. The Strait of Hormuz, a vital chokepoint for global energy and petrochemical shipments, typically handles 20 percent of the world’s oil supply. Its effective closure has triggered what analysts are calling one of the…

SHARE

by Joe Lombardi
Business
Jobless Claims Hit Four-Year High, Inflation Jumps As Labor Market Weakens Jobless Claims Hit Four-Year High, Inflation Jumps As Labor Market Weakens
Jobless Claims Hit Four-Year High, Inflation Jumps As Labor Market Weakens Inflation rose faster in August while jobless claims spiked to their highest level since 2021, signaling a weakening job market as President Donald Trump's tariffs shake the economy. Consumer prices rose 0.4% in August and reached a yearly rate of 2.9%, according to Bureau of Labor Statistics data released on Thursday, Sept. 11. That's the biggest monthly jump since January, when yearly inflation was 3.0%. Core inflation, which excludes volatile food and energy prices, climbed 0.3% in August and 3.1% over 12 months. Shelter, which makes up about one-third of the Consumer Pric…

SHARE

by Chris Spiker
Business
Inflation Holds Steady, Grocery Prices Drop As Trump's Trade Policies Cloud Outlook Inflation Holds Steady, Grocery Prices Drop As Trump's Trade Policies Cloud Outlook
Inflation Holds Steady, Grocery Prices Drop As Trump's Trade Policies Cloud Outlook Inflation was relatively flat as President Donald Trump's sweeping tariffs went into effect in April, with lower grocery prices helping keep overall costs in check. Monthly inflation increased just 0.2% from March, the Bureau of Labor Statistics said on Tuesday, May 13. Consumer prices rose 2.3% from April 2024, the smallest yearly inflation since February 2021. The annual inflation number was slightly below the 2.4% Dow Jones forecast, CNBC reported. Wall Street didn't react much to the consumer price index (CPI) data, with stocks and Treasury yields staying relatively unchanged when …

SHARE

by Chris Spiker
Business
Inflation Cooled In March Before Trump's Tariffs Fueled Market Collapse, New Data Says Inflation Cooled In March Before Trump's Tariffs Fueled Market Collapse, New Data Says
Inflation Cooled In March Before Trump's Tariffs Fueled Market Collapse, New Data Says Inflation slightly eased in March, just before President Donald Trump's sweeping tariff announcement sent Wall Street spiraling, wiping out trillions in market value before a temporary tariff pause. The consumer price index (CPI) fell 0.1% in March, the first decline since October, the Bureau of Labor Statistics said on Thursday, April 10. Prices climbed 2.4% from March 2024, the slowest annual increase since early 2021. Wall Street was bracing for a hotter inflation report. The Dow Jones consensus estimated headline inflation to be 2.6% and core inflation to be 3%, CNBC reported. Gas…

SHARE

by Chris Spiker
Business
Inflation Cools Slightly In February As Tariffs, Slowing Labor Market Fuel Economic Concerns Inflation Cools Slightly In February As Tariffs, Slowing Labor Market Fuel Economic Concerns
Inflation Cools Slightly In February As Tariffs, Slowing Labor Market Fuel Economic Concerns Consumer prices rose slightly less than expected in February, but President Donald Trump's escalating trade wars and a declining labor market are keeping economic uncertainty high. Inflation increased 0.2 percent in February and 2.8 percent over the past year, according to new Bureau of Labor Statistics data released on Wednesday, Mar. 12. The yearly inflation number remained well above the Federal Reserve's two-percent target. The monthly increase was smaller than January's jump of 0.5 percent. February's figures were also a little lower than Dow Jones expectations, CNBC reported. Co…

SHARE

by Chris Spiker