inflation
With inflation heating up, Americans’ spending power is under stress. But in a few sectors, wages are still growing faster than inflation. New data published on Wednesday showed inflation in May exceeding 4% for the first time since 2023 and outpacing private-sector wage growth for the second-straight month, at 4.2%…
US annual inflation accelerated more than expected, with the consumer price index rising 3.8% in April from a year ago. Economists expected a 3.7% increase, and it’s the highest inflation rate since 2023. Loading audio narration… CPI increased 0.6% from March, as expected, and was cooler than March’s 0.9% rise.The…
AI is contributing to mounting inflationary pressures that are weighing on US consumers, Goldman Sachs said. Loading audio narration… It’s been predicted that the technology could rewire the global economy by fueling transformational productivity gains and spurring a wave of disinflation, but so far, it’s actually adding to inflation, Goldman…
Consumers are in for a rude awakening from the what one expert is calling the second wave of inflation caused by the Iran war.The impact of the war on consumers’ wallets has been relatively limited, with inflationary pressures showing up in high gas prices and pricier flights. Market watchers warn…
Elon Musk recently said the “best way” to handle job losses from AI would be for the federal government to pay a “universal high income” to every American. Loading audio narration… The Tesla and SpaceX CEO headed off concerns that doling out big checks would drive up prices: “AI/robotics will…
