June 19, 2018
Latest News

US inflation posts 2.1 pct. gain in 2017

 A woman shops at a supermarket in Brooklyn. EPA-EFE/File

A woman shops at a supermarket in Brooklyn. EPA-EFE/File

Washington, Jan 12 (efe-epa).- The United States' consumer price index grew by 0.1 percent in December relative to the previous month and the inflation rate for all of 2017 came in at 2.1 percent, the Labor Department reported Friday.

The monthly rise in the CPI matched economists' forecasts, while the annual growth in consumer prices was in line with the US Federal Reserve's annual inflation target of 2 percent.

The slight rise in the CPI in December was driven mainly by higher shelter and food costs, which rose 0.4 percent and 0.2 percent, respectively.

But energy prices fell 1.2 percent in December due mainly to a 2.7 percent decline in the cost of gasoline relative to November.

Core inflation, which excludes volatile food and energy prices, rose by 0.3 pct. in December from the prior month - its biggest monthly gain in 11 months - and by 1.8 percent compared to December 2016.

After coming in below the Fed's target for years, US inflation appears to have rebounded in the US.

Rising consumer prices provide further support for central bank policymakers' median expectation of three increases this year in the Fed's benchmark interest rate, which currently is at a range of between 1.25 percent and 1.5 percent.

News history
Australian court fines Apple $6.6 million for misleading customers

Sydney, Australia, Jun 19 (efe-epa).- Apple will have to pay a fine in Australia of about $6.6 million in penalties for misleading customers who bought its...

US prepares new 10 percent tariffs on $200 billion worth of Chinese products

Washington DC, Jun 18 (efe-epa).- The President of the United States on Monday has requested the US Trade Representative to identify new tariffs, at a rate...

Argentine Central Bank takes steps to prop up currency

Buenos Aires, Jun 18 (efe-epa).- Argentina's Central Bank on Monday took steps aimed at stopping the peso's slide against the dollar.

UK report: digital money overtook cash-only payments in 2017 for the 1st time

London, Jun 18 (efe-epa).- According to a report published Monday, the year 2017, may be remembered as the year debit cards overtook cash to become the most...

Virgin Money tie-up is a good deal according to brokers, but concerns linger

London, Jun 18 (efe-epa).- Virgin Money Holdings' proposed GBP1.7 billion ($2.25 billion) all-share tie-up with CYBG is good news for shareholders, but some...

Google to invest $550 million in China's e-commerce player JD.com

Shanghai, China, Jun 18 (efe-epa).- Google is set to invest $550 million in Chinese e-commerce firm JD.com as part of a new strategic partnership between...

OPEC crude basket drops to $72.79

Vienna, Jun 18 (efe-epa).- The basket of crude oil used as a benchmark indicator by the Organization of Petroleum Exporting Countries fell to $72.79, the...

Australia, EU begin free trade agreement negotiations

Sydney, Australia, Jun 18 (efe-epa).- Australia's prime minister and the European trade commissioner Monday announced the official opening of negotiations...

Factories shut down, stock market drops after deadly Japan earthquake

Tokyo, Jun 18 (efe-epa).- A deadly earthquake measuring 6.1 on the Richter scale shook western Japan on Monday morning and led to the temporary closure of...

Japan registers $5 billion trade deficit in May

Tokyo, Jun 18 (efe-epa).- Japan logged a trade deficit of 578.3 billion yen ($5.2 billion) in May, an official source said Monday.

Italy to accept 41 migrants rescued by US ship Trenton

Rome, Jun 17 (efe-epa).- The Italian Coast Guard Sunday received 41 migrants rescued on Jun. 12 by the American warship Trenton off the Libyan coast, five...

Migrant rescue ship reaches Balearic Islands on way to Spain

Rome, Jun 16 (efe-epa).- The Aquarius rescue vessel operated by NGO SOS Méditerranée passed the Spanish island of Majorca Saturday as it entered its seventh...

China imposes retaliatory tariffs on $50 billion worth of US products

Shanghai, China, Jun 16 (efe-epa).- China said on Saturday it will impose new import tariffs on about $50 billion worth of products from the United States,...

Number of sales staff falls again in South Korea

Seoul, Jun 16 (efe-epa).- The number of salespeople employed in South Korea has fallen again, according to figures released on Saturday by Statistics Korea,...

Pacific Alliance accepts Serbia, UAE, Belarus as observer states

Mexico City, Jun 15 (efe-epa).- The Pacific Alliance, a Latin American trade bloc made up of Colombia, Chile, Mexico and Peru, accepted Serbia, the United...

Visa offers magical World Cup experience with contactless payment technology

Moscow, Jun 15 (efe-epa).- Visa, sponsor of the World Cup since 2007, promises consumers a magical experience during the World Cup in Russia with its...

Largest pre-Columbian adobe city still holds surprises for archaeologists

Trujillo, Peru, Jun 15 (efe-epa).- The discovery of new murals carved in high relief at the archaeological complex of Chan Chan, the largest pre-Columbian...

EU unconditionally approves UK's Sky acquisition by US Comcast media giant

Brussels, Jun 15, (efe-epa).-The European Commission on Friday approved under the EU Merger Regulation the proposed acquisition of the United Kingdom's Sky...

China to respond in kind to US tariffs

Shanghai, China, Jun 15 (efe-epa).- The Chinese Ministry of Commerce announced Friday that, although it did not want to fight a trade war with the United...

China warns agreements with US will be annulled if Trump imposes tariffs

Beijing, Jun 15 (efe-epa).- China warned on Friday that if the United States goes ahead and imposes tariffs on Chinese products, any agreements reached...

Southeast Asia economic cooperation summit of ACMECS opens in Thailand

Bangkok, Jun 15 (efe-epa).- Foreign delegates, regional leaders and business people gathered Friday in the Thai capital for the eighth edition of the...

Japan's central bank continues monetary easing measures

Tokyo, Jun 15 (efe-epa).- The Bank of Japan (BoJ) on Friday decided in its monthly meeting to maintain its monetary easing measures, which contrast with the...

New Zealand ponders introducing a tourist tax

Sydney, Australia, Jun 15 (efe-epa).- The government of New Zealand announced Friday that it is assessing the possibility of imposing a tourist tax of...

Argentina merges ministries after resignation of Central Bank chief

Buenos Aires, Jun 14 (efe-epa).- The Argentine government announced Thursday that it will merge the Treasury and Finance Ministries after the resignation of...

I agree Welcome to news4europe.eu. We use cookies to improve your online experience. Find out more.