Photo: Shoppers peruse a display of Rainer cherries at a Costco warehouse Tuesday, July 11, 2023, in Sheridan, Colo. Signs that inflation pressures in the United States are steadily easing emerged Friday in reports that consumer prices rose in June at their slowest pace in more than two years and that wage growth cooled last
Photo: Federal Reserve Chair Jerome Powell arrives for a news conference at the William McChesney Martin Jr. Federal Reserve Board Building The Federal Reserve raised its key interest rate Wednesday for the 11th time in 17 months as part of its ongoing drive to curb inflation. But it provided little guidance about when — or
(CREDIT: Jay Godwin, GoodFreePhotos) There is an old Wall Street joke about a man who jumped off the Empire State Building. When asked at the 40th floor how things were going, he replied, “So far, so good.” We have to wonder whether something similar might be said of President Biden. At the start of his
Squeezed by painfully high prices for two years, Americans have gained some much-needed relief with inflation reaching its lowest point since early 2021 — 3% in June compared with a year earlier — thanks in part to easing prices for gasoline, airline fares, used cars and groceries. The inflation figure the government reported Wednesday was
Average gasoline prices in Arizona have fallen 10.3 cents per gallon in the last week, averaging $4.28/g today, according to GasBuddy’s survey of 2,269 stations in Arizona. Prices in Arizona are 35.2 cents per gallon lower than a month ago and stand 102.1 cents per gallon lower than a year ago. The national average price
Consumer prices in the United States cooled last month, rising just 0.1% from April to May and extending the past year’s steady easing of inflation. At the same time, some measures of underlying price pressures remained high. Measured year over year, inflation slowed to just 4% in May — the lowest 12-month figure in over