The Consumer Price Index, a closely watched measure of inflation, was unchanged in July on a seasonally adjusted basis after rising 1.3 percent in June, the Bureau of Labor Statistics reported Wednesday. Over the past 12 months, the all-items index increased by 8.5 percent before seasonal adjustment.
Tag: Wells Fargo Economics
Solid Jobs Report Move Employment, Unemployment Rate to Pre-Pandemic Levels
Total nonfarm employment jumped by 528,000 jobs in July, more than double consensus expectations and pushing the unemployment rate to 3.5 percent, the Bureau of Labor Statistics reported Friday.
June Construction Spending Down; Manufacturing Slows
Construction spending in June fell by more than 1 percent from May, the Census Bureau reported Monday. In a separate report, Institute for Supply Management, Tempe, Ariz., said its Manufacturing Index fell by 0.2 percent to a nearly two-year low.
Soaring Gas, Food Prices Drive June Consumer Price Index to 40-Year High
Broad-based increases in major price categories, particularly gas and food, drove the U.S. Consumer Price Index up by 1.3 percent in June month over month and by 9.1 percent year over year—the largest annual increase since 1981, the Bureau of Labor Statistics reported Wednesday.
June Jobs Report Beats Estimates
Employment rose by 372,000 jobs in June, the Bureau of Labor Statistics reported Friday, a strong report despite rising inflation and economic uncertainty.
Job Openings Fall, But Still Outnumber Workers
In the first of four major jobs reports this week, the Bureau of Labor Statistics reported despite a sharp drop in job openings in May, they still easily outdistanced the number of people looking for work.
May New Home Sales Jump 11%
May new home sales proved to be a solitary bright spot in a month of otherwise disappointing housing reports, rising by nearly 11 percent from April, HUD and the Census Bureau reported Friday.
Existing Home Sales Fall 4th Straight Month; Median Sales Price Breaks $400,000
May existing home sales fell by 3.4 percent from April, marking the fourth consecutive monthly decline, the National Association of Realtors reported Tuesday.
May Housing Starts Plunge Amid Market Volatility
Housing starts fell sharply in May, HUD and the Census Bureau reported Thursday, as continued market volatility and higher interest rates took a toll on both consumers and home builders.
Inflation Still Too High for Consumers—and Fed
Inflation showed no signs of letup in May, the Bureau of Labor Statistics reported Friday, with analysts all but guaranteeing large interest rate hikes by the Federal Reserve this week and in the coming months.