Connect with us

International

US inflation slows as interest rates hold

US inflation slows as interest rates hold
US inflation slows as interest rates hold

 


10 hours ago

By Charlotte Edwards, BBC business journalist

Reuters

Rising consumer prices in the United States eased slightly last month, official data showed, ahead of the decision to keep interest rates at their highest level in 23 years.

According to the U.S. Department of Labor, prices rose 3.3% over the year through the end of May, down 0.1 percentage points from the previous month.

Core inflation, which excludes the most volatile items like food and energy prices, has also slowed despite the fact that rents continue to weigh on household budgets.

Although borrowing costs are at their highest level in years, Federal Reserve officials have postponed any interest rate cuts this month.

The American central bank maintained its target rate between 5.25% and 5.5% on Wednesday.

He also predicted a one-time rate cut this year – but policymakers were divided.

Four expected no reduction, seven expected one reduction and eight thought there would be two.

Following the inflation data, traders increased their bets on a rate cut in September, and also increased their bets on a second cut in December.

The inflation figure was lower than some economists' expectations, meaning they now think a rate cut this year is more likely, but it remains above the US central bank's 2% target.

In the United States, people are still suffering from rising rents and electricity, while food inflation remains at around 2%.

The inflation rate in the United States has varied for other goods and services.

The rate of rise in transport prices, such as taxi fares, rose by more than a tenth in the year to May, while used car inflation fell by almost a tenth.

Lindsay James, investment strategist at Quilter Investors, said that despite inflation falling, markets “remain stuck in a holding trend”.

“[We are] we must wait either for inflation to fall more quickly towards the 2% target, or for the economy to buckle under pressure and require a new round of stimulus measures. »

The inflation rate is the rate of increase or decrease in prices over a given period.

In the United States, the Bureau of Labor Statistics uses the Consumer Price Index to measure inflation.

This obtains its information from 23,000 companies and involves checking the prices of around 80,000 consumer items.

Although the rate of increase in average prices has remained steady, some major U.S. retailers, including Target, have cut prices on products such as food and baby products to try to attract customers.

The price of milk at the supermarket saw a drop of 1.3% and the prices of other soft drinks also fell.

Prices of fruits and vegetables remained unchanged.

Rents rose 0.4%, matching April's increase, and health care costs rose 0.5%.

Prescription drug prices increased by 2.1% and the cost of hospital services also increased by 0.5%.

Developments in the American economy are particularly important in the run-up to the presidential election on November 5.

Inflation figures are said to affect US President Joe Biden's popularity, as Americans continue to feel the effects.

Sources

1/ https://Google.com/

2/ https://www.bbc.com/news/articles/c1ddj7v9y97o

The mention sources can contact us to remove/changing this article

What Are The Main Benefits Of Comparing Car Insurance Quotes Online

LOS ANGELES, CA / ACCESSWIRE / June 24, 2020, / Compare-autoinsurance.Org has launched a new blog post that presents the main benefits of comparing multiple car insurance quotes. For more info and free online quotes, please visit https://compare-autoinsurance.Org/the-advantages-of-comparing-prices-with-car-insurance-quotes-online/ The modern society has numerous technological advantages. One important advantage is the speed at which information is sent and received. With the help of the internet, the shopping habits of many persons have drastically changed. The car insurance industry hasn't remained untouched by these changes. On the internet, drivers can compare insurance prices and find out which sellers have the best offers. View photos The advantages of comparing online car insurance quotes are the following: Online quotes can be obtained from anywhere and at any time. Unlike physical insurance agencies, websites don't have a specific schedule and they are available at any time. Drivers that have busy working schedules, can compare quotes from anywhere and at any time, even at midnight. Multiple choices. Almost all insurance providers, no matter if they are well-known brands or just local insurers, have an online presence. Online quotes will allow policyholders the chance to discover multiple insurance companies and check their prices. Drivers are no longer required to get quotes from just a few known insurance companies. Also, local and regional insurers can provide lower insurance rates for the same services. Accurate insurance estimates. Online quotes can only be accurate if the customers provide accurate and real info about their car models and driving history. Lying about past driving incidents can make the price estimates to be lower, but when dealing with an insurance company lying to them is useless. Usually, insurance companies will do research about a potential customer before granting him coverage. Online quotes can be sorted easily. Although drivers are recommended to not choose a policy just based on its price, drivers can easily sort quotes by insurance price. Using brokerage websites will allow drivers to get quotes from multiple insurers, thus making the comparison faster and easier. For additional info, money-saving tips, and free car insurance quotes, visit https://compare-autoinsurance.Org/ Compare-autoinsurance.Org is an online provider of life, home, health, and auto insurance quotes. This website is unique because it does not simply stick to one kind of insurance provider, but brings the clients the best deals from many different online insurance carriers. In this way, clients have access to offers from multiple carriers all in one place: this website. On this site, customers have access to quotes for insurance plans from various agencies, such as local or nationwide agencies, brand names insurance companies, etc. "Online quotes can easily help drivers obtain better car insurance deals. All they have to do is to complete an online form with accurate and real info, then compare prices", said Russell Rabichev, Marketing Director of Internet Marketing Company. CONTACT: Company Name: Internet Marketing CompanyPerson for contact Name: Gurgu CPhone Number: (818) 359-3898Email: [email protected]: https://compare-autoinsurance.Org/ SOURCE: Compare-autoinsurance.Org View source version on accesswire.Com:https://www.Accesswire.Com/595055/What-Are-The-Main-Benefits-Of-Comparing-Car-Insurance-Quotes-Online View photos

ExBUlletin

to request, modification Contact us at Here or [email protected]