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Congressional Budget Office says inflation to last into 2023

WASHINGTON (AP) — The Congressional Budget Office released an economic outlook Wednesday saying high inflation will persist into next year, likely causing the federal government to pay higher interest...

Business Highlights: Fed's 'restrictive' levels, Davos gloom

___ Fed officials signal rates may head to ‘restrictive’ levels WASHINGTON (AP) — Federal Reserve officials agreed when they met earlier this month that they might ...

Economic outlook has 'darkened', business and government leaders warn in Davos

Multiple threats to the global economy topped the worries of the world's well-heeled at the annual Davos think-fest on Monday, with some flagging the risk of a worldwide recession. Political an...

Japan April consumer prices post biggest jump in over 7 years

TOKYO, May 20 (Reuters) - Japan's core consumer inflation in April rose above the central bank's 2% target, hitting a more than seven-year high as increases in energy and commodity costs are c...

Central Bank sees Taiwan’s 2022 inflation rate above 2%

TAIPEI (Taiwan News) — The Russian invasion in Ukraine and the COVID-19 lockdowns in China will result in a 2022 inflation rate higher than 2% for Taiwan, the Central Bank said Wednesday (May 18...

Sweden sees highest inflation rate since 1991

COPENHAGEN, Denmark (AP) — Inflation in Sweden increased last month to its highest level since 1991, officials said Thursday, as countries worldwide grapple with surging prices exacerbated by Russia's...

World shares decline as inflation falls less than hoped for

World shares fell Thursday following the release of U.S. inflation data that was higher than expected. U.S. futures and oil prices also fell. A pledge by Chinese leaders of more sup...

Central Bank governor says Taiwan's annual GDP growth may drop to 4%

TAIPEI (Taiwan News) — Imported inflation might make it difficult for Taiwan’s GDP to reach 4% growth this year, Central Bank Governor Yang Chin-long (楊金龍) said Thursday (May 12). The c...

Nasdaq falls more than 3% as U.S. inflation data gives little relief to investors

U.S. stocks ended sharply lower on Wednesday, with the Nasdaq dropping more than 3% and the Dow falling for a fifth straight day after U.S. inflation data did little to ease investor worries over the ...

High inflation leaves food banks struggling to meet needs

Kendall Nunamaker and her family of five in Kennewick, Washington, faced impossible math this month: How to pay for gas, groceries and the mortgage with inflation driving up prices? ...

Biden sees bigger role for US farms due to Ukraine war

WASHINGTON (AP) — President Joe Biden wants to put a spotlight on the spike in food prices from Russia's invasion of Ukraine when he travels to an Illinois farm to emphasize how U.S. agricultural expo...

Business and economic events scheduled for Wednesday

Business and economic events scheduled for Wednesday. All times are Eastern. WASHINGTON — Labor Department releases Consumer Price Index for April, 8:30 a.m. ...

Danish inflation hits 6.7%; highest since 1984

COPENHAGEN, Denmark (AP) — Denmark's inflation rate has increased to 6.7% in April in its highest level since 1984 as electricity and heating prices spike, authorities said Tuesday. ...

Occidental Petroleum earns, consumer prices, jobless claims

A look at some of the key business events and economic indicators upcoming this week: PUMPED UP Occidental Petroleum reports its first-quarter results Tuesday. ...

Business events scheduled for the coming week

Business events and economic reports scheduled for the coming week. All times are Eastern. WEDNESDAY, May 11 WASHINGTON — Labor Department release...