Inflation has cooled significantly recently, but you may still find yourself paying more at the grocery store. What gives? Here's a primer on what easing inflation actually means.
Consumer prices last month were 3.2% higher than the month before — a smaller annual increase than the previous month. A sharp drop in gas prices in October helped to offset rising rents.
Consumer prices rose 3.2% in July from a year ago, up slightly from the 3% annual rise see in June — but still within analyst expectations
Annual inflation fell to 3% in June, the lowest since March 2021. That probably won't stop the Federal Reserve from raising rates again, but this month's expected hike could be the last.
AAA is forecasting record-high travel this weekend, when more than 50 million Americans are expected to get out of town. That could mean clogged roads and snarls at airports.
Some German homeowners are worried they'll have to foot the bill for their country's climate targets by replacing their gas boilers with cleaner — but more expensive — heat pumps.
OPEC+ countries also agreed to extend oil production cuts they announced in April through the end of 2024, reducing production by more than 1 million barrels per day.
Oil prices surged after Saudi Arabia and some other oil producers announced they're reducing their oil output. That will send gas prices higher – and benefit energy companies in America.
A new government report shows inflation cooled a bit in November. But prices are still climbing and the Federal Reserve is preparing to raise interest rates again.
Oil and gas production is the nation's largest industrial source of methane, the main component of natural gas, and is a key target for the Biden administration as it seeks to combat climate change.