Sharply lower prices for gas and cheaper used cars slowed U.S. inflation in August for a second straight month
, though many other items rose in price, indicating that inflation remains a heavy burden for American households.
Inflation remains far higher than many Americans have ever experienced and is keeping pressure on the Federal Reserve, the agency tasked with keeping prices stable. The Fed is expected to announce another big increase in its benchmark interest rate next week, which will lead to higher costs for many consumer and business loans.
Republicans have sought to make inflation a central issue in the midterm congressional elections. They blame President Joe Biden's $1.9 trillion stimulus package passed last year for much of the increase. Many economists generally agree, though they also say that snarled supply chains, Russia's invasion of Ukraine and widespread shortages of items like semiconductors have been key factors in the inflation surge.
General Motors has said the pandemic disruptions to overseas production of semiconductors, which have reduced auto output, have largely dissipated and that supply chain disruptions overall have improved about 80% from the worst days of the pandemic.
France Dernières Nouvelles, France Actualités
Similar News:Vous pouvez également lire des articles d'actualité similaires à celui-ci que nous avons collectés auprès d'autres sources d'information.
Turkish automotive production shrinks 13.3% in AugustProduction in Turkey's automotive sector declined 13.3% year-on-year in August to 92,625 vehicles, with exports falling 21.9% to 64,515, the Automotive Manufacturers Association (OSD) said on Sunday.
Lire la suite »
Japan to Reopen to Tourists Despite Record Covid-19 Cases in AugustJust 245,900 foreign tourists visited Japan in 2021, the lowest number since records started in 1964.
Lire la suite »
EUR/USD to test August 10 high near 1.0370 on a clean breach of 1.02 – BBHEUR/USD has traded as high as 1.02 earlier. A break above here would open up a move towards 1.0370, economists at BBH report. European Central Bank st
Lire la suite »
U.S. stocks gain ground as investors await August inflation readingThe positive mood from the last several days - which helped Wall Street snap a three-week losing streak - was continuing into the new session.
Lire la suite »
Online prices rise in August as food, apparel lead gainsE-commerce price gains returned in August, led by the increasing costs of groceries and apparel. Shoppers have spent $580 billion online so far this year.
Lire la suite »
US: August CPI to show consumers received further relief – Wells FargoOn Tuesday, key inflation data is due in the US. The August CPI print will be watched closely by market participants ahead of the next FOMC meeting to
Lire la suite »