Price inflation throughout the Riverside metropolitan area jumped over 1% over the last two months, spurred by higher expenses for gas and shelter, according to a report released Thursday by the U.S. Bureau of Labor Statistics.
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Inflation cooled for the 12th consecutive month in June, moving to 3% from 4% in May, according to the latest Consumer Price Index data from the Labor Department.
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Inflation rose almost 1% throughout the Riverside metropolitan area over the last two months, fueled by higher expenses for food and shelter, according to a report released Tuesday by the U.S. Bureau of Labor Statistics.
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Higher prices for food and rents were offset by appreciable drops in energy costs, leaving the inflation rate unchanged over the last two months throughout the Riverside metropolitan area, according to a report released Wednesday by the U.S. Bureau of Labor Statistics.
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Persistent inflation remains the Federal Reserve’s No. 1 concern, even as the banking sector remains on edge after two big bank failures last month. This week’s Consumer Price Index, due to be announced Wednesday at 8:30 am ET, could determine whether the central bank raises rates again in May.
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Inflation’s temperature came down a little bit more last month, but the Federal Reserve’s campaign to bring down high prices has grown even more complex in recent days.
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Mortgage rates climbed higher for the second consecutive week, following four weeks of declines. Inflation is running hotter, making rates more volatile, with the expectation that they will move in the 6% to 7% range over the next few weeks.
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Price inflation throughout the Riverside metropolitan area jumped 7.3% over the last year and was up more than 1% just in the last two months, fueled by higher energy expenses, according to a report released Tuesday by the U.S. Bureau of Labor Statistics.
