Underlying Inflation News Today : Breaking News, Live Updates & Top Stories | Vimarsana

(Bloomberg) -- Fresh inflation data released Friday cemented the message from Federal Reserve Chair Jerome Powell last week that high interest rates are here to stay for now.Most Read from BloombergJavier Milei Fuels Wild Rally That Makes Peso No. 1 in WorldPlunging Home Prices, Fleeing Companies: Austin’s Glow Is FadingFed’s Preferred Core Inflation Gauge Rose at Brisk Pace in MarchHuawei’s New Phone Runs Latest Version of Made-in-China ChipUS Economy Slows and Inflation Jumps, Damping Soft-Lan

(Bloomberg) -- The European Central Bank held interest rates steady for a fifth meeting, while sending its clearest signal yet that cooling inflation will soon allow it to commence cuts.Most Read from BloombergUS Sees Imminent Missile Strike on Israel by Iran, ProxiesUS Slams Strikes on Russia Oil Refineries as Risk to Oil MarketsVietnam Tycoon Lan Sentenced to Death Over $12 Billion FraudRussia Destroys Largest Power Plant in Ukraine’s Kyiv RegionChinese Cement Maker Halted After 99% Crash in 1

In June 2022, the COVID-19 pandemic saw the 12-month US inflation rate hit a 40-year high at 9%, after averaging 2.2% between 2000 and 2020.

President Joe Biden’s plans to tout his stewardship of the US economy during his reelection campaign hit a snag yesterday when it was revealed that year-on-year core inflation stood at 3.9% through January. Now one economist warns that the prices of many basic goods will likely remain high even if inflation slows.

US home sales declined to the lowest level in almost three decades last year as prices rose to a record high.