Consumer prices rose slightly more than expected in September amid higher food costs, but the annual increase in inflation was the smallest in more than 3-1/2 years.
Over 72 million Americans will see a 2.5% cost-of-living adjustment to benefit payments in 2025, the Social Security Administration announced on Thursday.
Import prices dropped by the most in eight months in August, suggesting that domestic inflation will continue to subside in the months ahead.
Wall Street’s main indexes capped off a tumultuous week where global markets were rattled and fears of a recession in the world’s biggest economy.
A Labor Department report showed the PPI for final demand rose 0.2% in March, against forecasts of a 0.3% increase.
NFIB said its Small Business Optimism Index fell 0.9 point to 88.5 last month, the lowest level since December 2012.
Nvidia briefly displaced Alphabet as the U.S. stock market’s third most valuable company.
U.S. retail sales fell for the first time in seven months as motor vehicle purchases and spending on hobbies dropped.
U.S. consumer prices rose in September as rental costs surged.
Inflation cools to 4%, that’s the lowest in 2 years, but it’s still well above the pre-pandemic average and the Fed’s target rate of 2%.