18 March, 2016
Based on the report released by the Labor Department of the United States, the Consumer Price Index jumped by 2.3 percent in the 12 months through February, an increase of 0.3 percent compared to the 2.2 percent in January.
One of the factors that drove the uptrend of the CPI is the positive data from the rents and medical costs, setting aside the volatile food and energy components.
The largest gain of the core of the CPI increased by 2.3 percent in May 2012. The CPI is the gauge used by the Department of Labor to measure the weighted average of prices of a basket of consumer goods including transportation, food and medical care.
On a report disclosed by the Commerce Department , the housing rate moved higher as the data of the single-family building increased by 5.2 percent to 1.18 million homes in the previous month.
Medical care costs increased by 0.5 percent, posting the same trend in January.Moreover, the cost of hospital services climbed as well by 0.5 percent as the prescription drug prices climbed by 0.9 percent.
In addition to, the price for the new motor vehicles together with the used cars and trucks surged. The apparel’s prices hit the biggest increase of 1.6 percent, the largest jump it had for the last seven years.
The wholesale prices slumped by 0.2 percent the previous month, likewise, the energy costs slipped by 6 percent.
Prior to the report of the Federal Reserve Meeting Outcome (FOMC), a prominent economist explained that there is absolutely no denying that there are inflationary pressures. He added that the Federal Reserve can no longer be dismissive on inflation and they are going to have to raise their inflation forecasts.
On the release of the most awaited Fed meeting report, the policymakers said that they may permit interest rate hike moderately this year as the U.S. may deal with the unstable global economy and strong job gains. Last Wednesday, global equities surged as the central bank announced that it might increase the interest rate twice in 2016.
Shares in the United States mixed as the market waited for the outcome of the U.S. economic data and as the Fed officials were set to release their statement after the report...
According to reports, Cook plans to introduce the accelerator program for iOS developers and to make known the development center for digital maps in Hyderabad. The CEO also said that he was encouraged by the results that the company is beginning to see there (India) and believe there is a lot lot more...
Amazon took another step in expanding its market influence as it opened doors in the European Union countries. Francois Saugier, Amazon director of European seller services, expressed his excitement towards the new business venture of the e-commerce juggernaut in Europe...
Europes finance ministers assembled in Amsterdam on Friday known as the Eurogroup meeting to discuss the improvement for the review of an economic adjustment program of Greece, which the Hellenic Republic obliged to pass in order to receive the following tranche of the loan...
The Aussie and New Zealand dollars inched lower against the greenback on Wednesday, as the prices of oil retreated after the Kuwaiti oil workers strike ended...
The International Monetary Fund (IMF) wants the European partners of Greece to grant Athens relief on its debt, which it perceives to be highly unsustainable...
On Friday, stocks and bond yields recoil as oil prices strengthens, but remained on the trail in trimming over the course of a marking and volatile week that has been witnessed by the increasing Japanese yen against the dollar...
The greenback traded higher against a basket of currencies as the market remained watchful on the outcome of the Federal Reserve’s march Policy meeting happening today and as economic growth ached the euro zone...
Gold futures extended rallies from the previous session in European trading hours on Wednesday, edging up to a 1-week high as market players lowered their expectations on the pace of interest rate hikes this year...