Wholesale prices unexpectedly fell in December, providing a positive signal for inflation, the Labor Department said on Friday. The producer price index fell 0.1% for the month and was up 1% at the end of 2023 from a year ago, the Labor Department said on Friday. Economists polled by Dow Jones had expected a monthly … Read more
A view of stranded boats on Lake Alhajuela during the summer drought in Colon province, 50 km north of Panama City, Panama, April 21, 2023. Lake Alhajuela is one of the main lakes that supplies water to the Panama Canal locks and is at its lowest level since last years. Luis Acosta | Afp | … Read more
The US Treasury Building in Washington, DC on August 15, 2023. Nathan Howard | Bloomberg | Getty Images The U.S. government spent another half a trillion dollars in red ink in the first quarter of its fiscal year, the Treasury Department announced Thursday. For the period from October to December 2023, the budget deficit reached … Read more
The prices consumers pay for a variety of goods and services rose more than expected in December, according to a measure from the Labor Department on Thursday, showing that inflation is still gripping the US economy. The consumer price index rose 0.3% for the month, better than the estimate of 0.2% at a time when … Read more
Consumers shop at a retail chain in Rosemead, California on December 12, 2023. Frederic J. Brown | AFP | Getty Images Economists expect inflation to have picked up in December, a trend that could challenge the market’s eager expectation that the Federal Reserve will cut interest rates this year. The consumer price index, a widely … Read more
People carry shopping bags when they visit a department store during the New York holiday season. Eduardo Munoz | Reuters According to the CNBC/NRF Retail Monitor for December, retailers posted solid gains last month to close out the holiday season. But the data also show that the true state of consumer spending is now being … Read more
Saudi Arabia has nearly doubled its estimate of the value of its mineral resources and has seen lucrative deals signed during its Mineral Futures Forum in Riyadh this week, ministers told CNBC. Estimates of the kingdom’s untapped mineral reserves have jumped from $1.3 trillion in a 2016 forecast to $2.5 trillion, according to Saudi Minister … Read more
US President Joe Biden greets South African President Cyril Ramaphosa in the Oval Office of the White House in Washington, September 16, 2022. Evelyn Hockstein | Reuters Accusing Israel of genocide in South Africa has further strained already shaky relations with the US and could have serious diplomatic consequences. The International Court of Justice, the … Read more