Latest news with #consumerPrices
Bloomberg
3 days ago
- Business
- Bloomberg
Kenyan Inflation Remains Below 5% for Longest Run in 15 Years
Kenyan annual inflation remained below the 5% midpoint of the central bank's target range for a 12th straight month, the longest stretch since at least 2010, strengthening the case for another interest-rate cut. Consumer prices rose 3.8% in May, compared with 4.1% in April, the Nairobi-based Kenya National Bureau of Statistics said Friday in a statement. Core inflation accelerated to 2.8%, compared with 2.5% in April.
Bloomberg
7 days ago
- Business
- Bloomberg
ECB Faces Greater Risk Inflation Will Undershoot 2%, Simkus Says
There's a growing danger that inflation will fall short of the European Central Bank's 2% target, according to Governing Council member Gediminas Simkus. The balance of risks for consumer prices is to the downside due to trade friction with the US and a stronger euro, the Lithuanian official said Monday. Borrowing costs are currently at the upper end of the range for the neutral rate, which neither stimulates nor curbs economic activity, he said.
Washington Post
24-05-2025
- Business
- Washington Post
Your new sofa could be the first sign tariff inflation is hitting home
Your next couch might already have a higher price tag thanks to President Donald Trump's tariffs. While tariff-fueled inflation has yet to show up broadly in the economy, it could be driving a noticeable uptick in the cost of furniture and other household furnishings, according to government and private-sector data and economists tracking consumer prices.
The Independent
22-05-2025
- Business
- The Independent
Howard Lutnick says Trump's tariffs won't raise prices (despite Walmart, Nike and others saying they are)
Commerce Secretary Howard Lutnick is convinced that the tariffs put in place by President Donald Trump won't raise prices even as several retailers have said they will. Speaking to Axios at an event in Washington, D.C. on Wednesday night, the former Wall Street CEO and billionaire said he believed the U.S. would make a number of trade deals by the middle of the summer. Lutnick was asked how many of the U.S.'s top 18 trading partners would have a deal by the time the pause in the widespread tariffs ends on July 8. "I think most countries, we'll have an idea of what we want to do with them,' he said. Lutnick has taken a leading role in the Trump White House's attempt to redraw the rules of international trade, which has disrupted both global and U.S. economies. The back-and-forth tariff policy has led to significant uncertainty for businesses and consumers. Trump has argued that the U.S. hasn't had a fair trading relationship with the rest of the world for decades, costing the U.S. jobs at home. However, the question surrounding the tariffs has recently been how they'll affect consumers. After Lutnick rejected 'silly arguments' that tariffs raise prices, Walmart announced that it would increase its prices because of the tariffs, with several other companies suggesting that they may follow suit. "The president has to stand strong, and you can't fix things in a day, and that's still going, but I would expect that prices in America will be unaffected,' a defiant Lutnick told Axios. Meanwhile, retail executives expect cost pressures to increase and consumers will feel more price rises by the end of June or early July. After Walmart announced that it would raise prices, Trump lashed out at the company, telling them to 'eat' the rising costs of tariffs without passing them on to consumers. Walmart responded to the president earlier this week by saying, 'We have always worked to keep our prices as low as possible, and we won't stop. We'll keep prices as low as we can for as long as we can, given the reality of small retail margins.' Trump revealed his tariff plan last month, which includes a 10 percent baseline tariff for most countries and further tariffs on a number of major trading partners. The president believes the tariffs will boost American manufacturing and bring in billions of dollars. However, since his April announcement, the Trump administration has dropped its tariffs on China from 145 percent to 30 percent and has paused other tariffs for 90 days as the U.S. goes into deal-making mode. Nike has also revealed that it's set to raise prices on some of its shoes and apparel by between $2 and $10 in response to the tariffs. The increase in prices will impact products made overseas, specifically in Vietnam and China, a person with knowledge of the matter told The Hill. 'We regularly evaluate our business and make pricing adjustments as part of our seasonal planning,' a spokesperson for the company told the outlet.
Bloomberg
22-05-2025
- Business
- Bloomberg
Egypt Poised for Another Rate Cut Before Possible ‘Summer Break'
Egypt looks poised to make one more interest-rate cut before the summer, when an anticipated new batch of economic reforms may prompt renewed caution over consumer prices. While inflation has ticked up for two months and April saw the North Africa country's first monetary easing in five years, the gap between those figures — the so-called real rate — remains one of the world's highest, at about 11%.
