Economy

Brexit has added more than £200 to the average U.K. household food bill, according to a new study from the London School of Economics. Nathan Stirk | Getty Images News | Getty Images LONDON — U.K. inflation came in slightly below expectations at 10.7% in November, as cooling fuel prices helped ease price pressures, though

The global economy likely faces a decade of sluggish growth, according to Daniel Lacalle, author and chief economist at Tressis Gestion. Economies around the world have been grappling with a multitude of shocks — from Russia’s invasion of Ukraine to China’s persistent zero-Covid measures — that have sent inflation soaring and weakened activity. related investing

Call it a sign of the times where a half percentage point interest rate increase from the Federal Reserve is considered looser monetary policy. Prior to this year, the Fed hadn’t boosted benchmark borrowing rates by more than a quarter-point at a time in 22 years. In 2022, they’ve done it five times — four

President of the European Central Bank Christine Lagarde attends a hearing of the Committee on Economic and Monetary Affairs in the European Parliament on November 28, 2022 in Brussels, Belgium. Thierry Monasse | Getty Images News | Getty Images The European Central Bank opted for a smaller rate hike at its Thursday meeting, taking its

Consumers pulled back on spending in November, failing to keep up with even a muted level of inflation for the month, the Commerce Department reported Thursday. Retail sales for the month declined 0.6%, even worse than the Dow Jones estimate for a 0.3% drop. The number is not adjusted for inflation as gauged by the

Prices rose less than expected in November, the latest sign that the runaway inflation that has been gripping the economy is beginning to loosen up. The consumer price index, which measures a wide basket of goods and services, rose just 0.1% from the previous month, and increased 7.1% from a year ago, the Labor Department

Wholesale prices rose more than expected in November as food prices surged, dampening hopes that inflation could be headed lower, the Labor Department reported Friday. The producer price index, a measure of what companies get for their products in the pipeline, increased 0.3% for the month and 7.4% from a year ago, which was the

A ‘help wanted’ sign is displayed in a window of a store in Manhattan on December 02, 2022 in New York City.  Spencer Platt | Getty Images As far as jobs reports go, November’s wasn’t exactly what the Federal Reserve was looking for. A higher-than-expected payrolls number and a hot wage reading that was twice

Inflation rose in October about in line with estimates, sending a sign that price increases at least might be stabilizing, the Commerce Department reported Thursday. The core personal consumption expenditures price index, a gauge that excludes food and energy and is favored by the Federal Reserve, rose 0.2% for the month and was up 5%

Wholesale prices increased less than expected in October, adding to hopes that inflation is on the wane, the Bureau of Labor Statistics reported Tuesday. The produce price index, a measure of the prices that companies get for finished goods in the marketplace, rose 0.2% for the month, against the Dow Jones estimates for a 0.4%

Countries should strike up more economic alliances than security and defense ones, as those could make the world “more dangerous,” the president of the Center for China and Globalization said on Tuesday. Doing that would also circumvent a slide toward deglobalization, which could hold back economic development across the world. The U.S. for example, could

Federal Reserve Governor Christopher Waller said Wednesday he’s open to reducing the level of interest rate increases soon, so long as the economic data cooperates. The rate-setting Federal Open Market Committee is set to meet Dec. 13-14. Market expectations are running high that policymakers will approve another rate hike, but this time opting for a

Luis Alvarez | Digitalvision | Getty Images Households increased debt during the third quarter at the fastest pace in 15 years due to hefty increases in credit card usage and mortgage balances, the Federal Reserve reported Tuesday. Total debt jumped by $351 billion for the July-to-September period, the largest nominal quarterly increase since 2007, bringing

Shoppers are seen in a Kroger supermarket on October 14, 2022, in Atlanta, Georgia. Elijah Nouvelage | AFP | Getty Images Higher interest rates, a potential recession and persistently high prices made consumers substantially less confident about the current state of the economy as well as where things are heading, according to a closely watched

A Now Hiring sign at a Dunkin’ restaurant on September 21, 2021 in Hallandale, Florida. Joe Raedle | Getty Images The unemployment rate for Black men ticked down in October while it rose for most other groups, but that may be because workers are dropping out of the labor force. The October nonfarm payrolls print

The cost of labor rose less than expected, but low productivity helped keep the pressure on inflation in the third quarter, according to Labor Department data released Thursday. Unit labor costs, a measure of productivity against compensation, increased 3.5% for the July-to-September period, below the 4% Dow Jones estimate and down from 8.9% in the

Halloween candy is for sale at a Harris Teeter grocery store on October 17, 2022 in Washington, DC. Drew Angerer | Getty Images An economic gauge that the Federal Reserve follows closely showed that inflation stayed strong in September but mostly within expectations, the Bureau of Economic Analysis reported Friday. The core personal consumption expenditures

The U.S. budget deficit was sliced in half for fiscal 2022, the biggest drop in history following two years of huge Covid-related spending. Though still large in historical terms, the budget shortfall declined to $1.375 trillion, compared to the 2021 deficit of $2.776 trillion. The decline would have been steeper had it not been for