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US consumer inflation eased a bit more than anticipated last month, based on government data released Thursday. This trend offers additional signs that price pressures are subsiding as the November presidential election approaches.
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Stock markets worldwide plummeted on Monday as weak U.S. economic data fueled concerns of a looming recession in the world's largest economy. The selloff, which began in Asia and spread to Europe, is expected to hit Wall Street hard when trading opens.
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US economic growth blew past expectations in the second quarter, boosted by consumer spending and inventory building despite high interest rates, government data showed Thursday, after a slow start to the year.
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U.S. hiring surged in September, exceeding expectations and pushing unemployment down, providing a boost for policymakers ahead of the November election.
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The US government data showed on Wednesday that the US trade gap has grown slightly less than expected in May, to the widest level since late 2022.
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The chair of the US Federal Reserve, Jerome Powell, has said that the reserve has made "quite a bit of progress" in its fight against rising prices and could hit its inflation target as soon as next year.
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Photo Credit: Getty Images US consumer inflation eased a bit more than anticipated last month,...
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Photo Credit: Getty Images U.S. hiring surged in September, exceeding expectations and pushing...
Photo Credit: Getty Images The latest Consumer Price Index (CPI) data released Wednesday showed...
