Inflation
Paris 2024 organizers say budget likely to increase

Nov. 22, 2022 11:24 AM EST
PARIS (AP) — The operating budget for the 2024 Paris Olympics is expected to go up by 10%, in part because of high inflation, organizers said Tuesday. ...

Paris Olympics cut costs with fewer cars, more subway rides

By Graham Dunbar Aug. 31, 2022 12:53 PM EDT
Looking to cut costs in a tough economy, organizers of the 2024 Paris Olympics said Wednesday they want officials to use fewer courtesy cars and take more trips on...

FILE - In this Thursday, Feb. 18, 2021 file photo, a new home is for sale in Madison, Ga. Mortgage rates rose above the 3% mark this week for the first time in 10 weeks, as the economic recovery from the pandemic recession continues while inflation remains elevated. Mortgage buyer Freddie Mac reported Friday, June 25 that the average for the key 30-year home loan rose to 3.02% from 2.93% last week. By contrast, the rate stood at 3.13% a year ago.(AP Photo/John Bazemore, File)
US mortgage rates rise over 3%; 30-year at 3.02%

Jun. 25, 2021 04:55 PM EDT

A customer wears a mask as she waits to get a receipt at a register in Target store in Vernon Hills, Ill., Sunday, May 23, 2021. Consumer spending was flat in May while incomes dropped for a second month as the impact of the government’s individual impact payments waned. (AP Photo/Nam Y. Huh)
May consumer spending flat; incomes fall and prices jump

By Martin Crutsinger Jun. 25, 2021 11:51 AM EDT

FILE - In this Wednesday, March 11, 2020 file photo, pedestrians wearing face masks pass the Bank of England in London. The Bank of England has kept its main interest rate at the record low of 0.1%. In a statement Thursday, June 24, 2021 accompanying its decision, the bank’s rate-setting Monetary Policy Committee voted unanimously to keep borrowing rates unchanged. (AP Photo/Matt Dunham, File)
Bank of England warns of rising inflation, but rates held

By Pan Pylas Jun. 24, 2021 07:26 AM EDT

In this photo provided by the New York Stock Exchange, Gregory Rowe, center, talks with a fellow trader on the NYSE trading floor, Wednesday, June 23, 2021. A morning gain on Wall Street was fading away at midday Wednesday, leaving major indexes mixed. Investors are still trying to parse emerging signs of inflation and judge whether they will be transitory, as the Federal Reserve thinks they will. (Courtney Crow/New York Stock Exchange via AP)
Stocks end listless day on Wall Street mixed as calm returns

By Damian J. Troise And Stan Choe Jun. 23, 2021 02:49 PM EDT

Czech central bank raises key rate to 0.5% to tame inflation

Jun. 23, 2021 09:06 AM EDT
PRAGUE (AP) — The Czech Republic’s central bank has increased its key interest rate by a quarter-point to 0.5% in efforts to tame inflation as the economy...

General contractor Victoria Staten poses for a portrait at her home Thursday, June 17, 2021, in Chicago. Small business owners like Staten have endured shutdowns and revenue drops during the COVID-19 outbreak, now must contend with another crisis: spiking prices for goods and services that squeeze profits and force many owners to pass the increases along to customers. (AP Photo/Charles Rex Arbogast)
Inflation poses new challenge for pandemic-weary businesses

By Joyce M. Rosenberg Jun. 23, 2021 08:27 AM EDT

FILE - Federal Reserve Chairman Jerome Powell, right, testifies before the Senate Banking Committee on Capitol Hill in Washington, Tuesday, Dec. 1, 2020. The economy is growing at a healthy clip, and that has accelerated inflation, Federal Reserve Chair Jerome Powell says in written testimony to be delivered Tuesday, June 22, 2021 at a congressional oversight hearing. (AP Photo/Susan Walsh, Pool)
Fed's Powell says high inflation temporary, will 'wane'

By Christopher Rugaber Jun. 22, 2021 02:47 PM EDT

Flags adorn the facade of the New York Stock Exchange, Wednesday, June 16, 2021. Stocks are opening mostly lower on Wall Street Tuesday, June 22 as traders wait for more clues on the Federal Reserve's thinking on inflation. (AP Photo/Richard Drew)
Wall Street rises, pushing S&P 500 back near record high

By Damian J. Troise And Stan Choe Jun. 22, 2021 02:46 AM EDT

FILE - Federal Reserve Chairman Jerome Powell, right, testifies before the Senate Banking Committee on Capitol Hill in Washington, Tuesday, Dec. 1, 2020. The economy is growing at a healthy clip, and that has accelerated inflation, Federal Reserve Chair Jerome Powell says in written testimony to be delivered Tuesday, June 22, 2021 at a congressional oversight hearing. (AP Photo/Susan Walsh, Pool)
Powell says economy growing rapidly, inflation up 'notably'

By Christopher Rugaber Jun. 21, 2021 06:24 PM EDT

Gas price is seen at a Mobil gas station in Vernon Hills, Ill., Friday, June 11, 2021. The rising cost of gasoline is being felt across the U.S., as the national average price has gone up from $2 per gallon last year to $3 per gallon as of June 9, according to data from the American Automobile Association. (AP Photo/Nam Y. Huh)
Republicans point to inflation in bid to retake Congress

By Will Weissert And Josh Boak Jun. 18, 2021 10:33 AM EDT

This March 21, 2021 photo shows an advertising sign for building land stands in front of a new home construction site in Northbrook, Ill. Mortgage rates were mostly lower this week, Thursday, June 17, as the economy continued to show signs of recovery from the pandemic recession and recent bursts of inflation were deemed temporary by federal policymakers. (AP Photo/Nam Y. Huh)
US average mortgage rates mostly lower; 30-year at 2.93%

Jun. 17, 2021 01:57 PM EDT

FILE - In this Dec. 1, 2020 file photo, Chairman of the Federal Reserve Jerome Powell appears before the Senate Banking Committee on Capitol Hill in Washington. The Federal Reserve signaled Wednesday, June 16, 2021, that it may act sooner than previously planned to start dialing back the low-interest rate policies that have helped fuel a swift rebound from the pandemic recession but have also coincided with rising inflation. The Fed's policymakers forecast that they would raise their benchmark short-term rate, which influences many consumer and business loans, twice by late 2023. They had previously estimated that no rate hike would occur before 2024. (AP Photo/Susan Walsh, Pool, File)
Fed sees earlier time frame for rate hikes with inflation up

By Christopher Rugaber Jun. 16, 2021 02:07 PM EDT

FILE - This June 4, 2021 file photo shows Treasury Secretary Janet Yellen ahead of her meeting with Germany's Finance Minister Olaf Scholz, as finance ministers from across the G7 nations meet at Lancaster House in London. Yellen assured Congress on Wednesday, June 16, that the Biden administration is monitoring the recent jump in inflation very carefully but still believes the increase will prove temporary. (Daniel Leal-Olivas/Pool Photo via AP, File)
Yellen: administration is watching inflation closely

By Martin Crutsinger Jun. 16, 2021 12:50 PM EDT

People sit at outdoor tables at a restaurant in Soho, in London, Monday, June 14, 2021. British Prime Minister Boris Johnson is expected to confirm Monday that the next planned relaxation of coronavirus restrictions in England will be delayed as a result of the spread of the delta variant first identified in India. (AP Photo/Alberto Pezzali)
UK inflation up more than expected amid COVID fluctuations

Jun. 16, 2021 05:45 AM EDT

FILE - American flags hang outside of the New York Stock Exchange, in this Tuesday, Feb. 16, 2021, file photo. The White House believes it has an ally in the bond markets to make the case that inflation isn't an economic threat. (AP Photo/Frank Franklin II, File)
White House: Markets showing little worry about inflation

By Josh Boak Jun. 16, 2021 05:22 AM EDT

Shown are milk jugs at a grocery store in Roslyn, Pa., Tuesday, June 15, 2021. Wholesale prices, boosted by rising food costs, increased 0.8% in May, and are up by a record amount over the past year, another indication that inflation pressures are rising since the economy has begun to re-open following the pandemic lockdowns. (AP Photo/Matt Rourke)
Record rise in US wholesale prices over the past year

By Martin Crutsinger Jun. 15, 2021 08:41 AM EDT

A woman wearing a protective mask walks in front of an electronic stock board showing Japan's Nikkei 225 and New York Dow indexes at a securities firm Wednesday, June 16, 2021, in Tokyo. Asian shares were mixed in quiet trading Wednesday ahead of a U.S. Federal Reserve meeting that may give clues on what lies ahead with its massive support for markets. (AP Photo/Eugene Hoshiko)
Asian shares mixed in quiet trading ahead of US Fed decision

By Yuri Kageyama Jun. 15, 2021 01:06 AM EDT

FILE - In this Dec. 1, 2020 file photo, Chairman of the Federal Reserve Jerome Powell appears before the Senate Banking Committee on Capitol Hill in Washington. The Federal Reserve reports that the U.S. economy grew at a somewhat faster pace from early April to late May despite adverse effects from supply chain disruptions. The Fed’s latest survey of economic conditions around the nation released Wednesday, June 2 2021, said that several Fed districts reported positive effects on the economy from increased vaccination rates and relaxed social distancing measures. (AP Photo/Susan Walsh, Pool, File)
Delicate task for Fed: When to pull back on low-rate support

By Christopher Rugaber Jun. 14, 2021 01:18 PM EDT