An inflation index that is closely monitored by the Federal Reserve tumbled in May to its lowest level since April 2021, pulled down by lower gas prices and slower-rising food costs.

WASHINGTON — The Federal Reserve kept its key interest rate unchanged June 14 after having raised it 10 straight times to combat high inflation. 

WASHINGTON — Consumer prices in the United States cooled last month, rising just 0.1% from April to May and extending the past year’s steady easing of inflation.

WASHINGTON — The nation’s employers stepped up their hiring in May, adding a robust 339,000 jobs, well above expectations and evidence of strength in the economy.

WASHINGTON — A key index of U.S. prices ticked higher in April, and consumer spending rebounded, a sign that inflationary pressures in the economy remain high.

WASHINGTON — Chair Jerome Powell indicated May 19 that the Federal Reserve likely will forgo an increase in its benchmark interest rate when it meets in June.

WASHINGTON — Consumer prices in the United States rose again in April, and measures of underlying inflation stayed high, a sign that declines in inflation are likely to be slow and bumpy.

The Federal Reserve reinforced its fight against high inflation May 3 by raising its key interest rate by a quarter-point to the highest level in 16 years.

WASHINGTON — A key index of underlying inflation that is closely followed by the Federal Reserve remained elevated in March, keeping the Fed on track to raise interest rates in May.

WASHINGTON — Americans cut their spending at retail stores and restaurants in March for the second straight month, a sign consumers are becoming more cautious.