Key inflation measure climbs to highest level since 1992
CNN
Prices rose yet again in May and a key measure of inflation hit new multi-year highs.
The price index tracking personal consumption expenditure, or PCE, climbed 3.9% in the year ending May, the Bureau of Economic Analysis reported Friday. It was the highest level since August 2008 and exceeded April's 3.6% level. Similarly, core PCE inflation, which strips out more volatile components like food and energy, stood at 3.4% over the same period -- the highest level since April 1992.
Missouri sued Starbucks this week, alleging the chain’s push to hire and promote more people of color and women violated anti-discrimination laws and slowed down coffee orders.
Chinese internet search giant Baidu will make its advanced AI chatbot services free, as competition heats up among global developers following the surging popularity of startup DeepSeek’s models.
China’s power industry began construction on nearly 100 gigawatts of new coal plant capacity last year, the most in nearly a decade, a report from two clean-energy groups said Thursday.
Google Play said it restored TikTok to the US app store on Thursday, following promises by President Donald Trump to save the app and an executive action delaying the enactment of a ban on the wildly popular social media platform.
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Americans are having a harder time managing rising debt burdens and in some cases haven’t been this overextended since the aftermath of the Great Recession.
US wholesale inflation remained stubbornly elevated last month, another sign that even higher prices could be ahead for American shoppers.
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President Donald Trump is expected to announce a new round of sweeping reciprocal tariffs on Thursday, matching higher rates other nations charge to import American goods.
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