Tag Archives: Quickens

(Bloomberg) — US inflation accelerated to a fresh 40-year high in May, a sign that price pressures are becoming entrenched in the economy. That will likely push the Federal Reserve to extend an aggressive series of interest-rate hikes and adds to political problems for the White House and Democrats. Most Read from Bloomberg The consumer price index increased 8.6% from a year earlier in a broad-based advance, Labor Department data showed Friday. The widely followed inflation gauge rose 1% from… Source link

(Bloomberg) — Sign up for the New Economy Daily newsletter, follow us @economics and subscribe to our podcast Most Read from Bloomberg Spanish inflation unexpectedly quickened, denting hopes that the euro zone’s record price surge is peaking and piling more pressure on the European Central Bank to act. The acceleration — to 8.5% in May from 8.3% the previous month under European Union harmonized standards — came as increases in fuel costs offset an easing in electricity prices that have… Source link

(Bloomberg) — GameStop Corp. shares tumbled for a third day in four as retail traders flocked to other corners of the stock market such as small drug developers. The video-game retailer extended losses to 33% and touched this week’s low of $62.05 at 11:32 a.m. in New York. Trading volume picked up after a slow start, with 25 million shares exchanged in the first two hours of trading, but still a below the average for the stock over the past two weeks. Meanwhile, demand was lower for… Source link