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Gasoline surge pushes March inflation higher amid Iran-related price pressures
economy35 minutes ago

Gasoline surge pushes March inflation higher amid Iran-related price pressures

March CPI rose 3.3% year over year, driven by a 21% jump in gasoline prices; core CPI increased 0.2% for the month and 2.6% over 12 months, while food costs were flat. The energy shock is the primary driver of headline inflation, with non-energy inflation remaining modest. Potential follow-on price pressures could come from supply bottlenecks, as geopolitical tensions around Iran add to energy market volatility ahead of peace talks.

via Axios|
#cpi#economy#energy
Court weighs Trump's global tariffs after Supreme Court setback
economy6 hours ago

Court weighs Trump's global tariffs after Supreme Court setback

A U.S. Court of International Trade hearing in New York is considering overturning President Trump's temporary global tariffs after the Supreme Court ruled IEEPA could not justify them; Trump may rely on Section 122 of the Trade Act of 1974, which would allow up to 15% global tariffs for 150 days with congressional approval, but questions remain about its applicability to trade deficits and the tariffs' July 24 expiration.

via PBS|
#court-of-international-trade#economy#ieepa
Trump backs Hungary’s Orban with US economic promise ahead of election
politics12 hours ago

Trump backs Hungary’s Orban with US economic promise ahead of election

U.S. President Donald Trump said his administration would use the full Economic Might of the United States to strengthen Hungary’s economy if Viktor Orbán and his party win Hungary’s parliamentary election, expanding his endorsement ahead of the vote. The piece notes that Hungary voters prioritize the economy, highlights Orbán’s Kremlin-friendly posture, and frames the election amid Ukraine tensions and alleged Moscow meddling.

via The Kyiv Independent|
#economy#elections#hungary
Record-low U.S. consumer morale sinks to new depths as war-driven inflation bites
economy1 day ago

Record-low U.S. consumer morale sinks to new depths as war-driven inflation bites

The University of Michigan’s consumer sentiment index fell to a record low of 47.6 in April 2026 as price spikes tied to the US–Iran conflict weigh on shoppers; inflation expectations rose (short-term 4.8%, long-term 3.4%), March CPI jumped 0.9% to 3.3%, and unemployment remains relatively low, suggesting sentiment could depress consumer spending if the labor market weakens.

via CNN|
#consumer-sentiment#cpi#economy
U.S. consumer confidence sinks to record low as inflation fears rise amid Iran conflict
economy1 day ago

U.S. consumer confidence sinks to record low as inflation fears rise amid Iran conflict

The University of Michigan’s April survey shows U.S. consumer sentiment dropping to a record low (index 47.6) with one-year inflation expectations rising to 4.8%. Analysts attribute the decline to worries about energy prices tied to the Iran conflict, noting most interviews were completed before the April 7 ceasefire; sentiment could improve if supply disruptions ease and gas prices moderate.

via CNBC|
#consumer-sentiment#economy#energy-prices
Energy surge lifts March CPI as core inflation remains restrained
economy1 day ago

Energy surge lifts March CPI as core inflation remains restrained

March CPI rose 0.9% to 3.3% year over year, led by a 21.2% spike in gasoline and a 10.9% jump in energy from the Iran conflict; core CPI gained 0.2% for the month and 2.6% annually, signaling contained underlying inflation, with pockets of price declines in medical care, personal care, and used cars. Services excluding energy rose 0.2% and shelter 0.3%. Energy pressures eased in April after a U.S.–Iran cease-fire, and markets expect the Fed to remain patient while watching the broader inflation path toward its target.

via CNBC|
#core-inflation#cpi#economy
West Virginia electric bills soar past mortgages amid rising energy costs
economy1 day ago

West Virginia electric bills soar past mortgages amid rising energy costs

In West Virginia, fixed-income households are facing electric bills that can exceed mortgage payments as overall energy costs rise, driven by aging coal plants, infrastructure upgrades, and gas-price volatility; many residents blame policy choices and unfulfilled Trump promises to cut energy costs, amid broader nationwide rate hikes and concerns over data centers driving demand.

via PBS|
#affordability#economy#electricity
economy1 day ago

February 2026: Spending Rises as Income Edges Down

US personal income fell 0.1% in February 2026 (-$18.2B), with disposable income down 0.1% (-$18.3B), while personal consumption expenditures increased 0.5% (+$103.2B), boosting total personal outlays by 0.5% (+$106.5B). Personal saving reached $931.5B (4.0% saving rate). The income drop was mainly due to lower personal dividend income and fewer transfer receipts, even as compensation rose. The PCE increase was split between goods (+$58.7B) and services (+$44.5B); real PCE rose 0.1%, and the PCE price index climbed 0.4% (0.4% excluding food and energy). Year over year, PCE prices were up 2.8% (3.0% ex food and energy). BEA notes data revisions and ongoing improvements; the next release is April 30, 2026, at 8:30 a.m. ET.

via U.S. Bureau of Economic Analysis (BEA) (.gov)|
#bea#consumer-spending#economy
Trump Tax Law Mostly Benefits the Rich, With Caps Limiting Tip Earners' Relief
economy2 days ago

Trump Tax Law Mostly Benefits the Rich, With Caps Limiting Tip Earners' Relief

NBC News reports that while many Americans saw larger tax refunds under Trump’s tax law, the gains are heavily skewed toward the wealthy. Provisions like a broad expansion of the estate tax, 100% bonus depreciation for business purchases (including jets), and other cuts disproportionately favor high earners, with about 60% of savings going to households over $217,000. At the same time, cap on tip deductions (up to $25,000) and limits on overtime and Social Security deductions mean many middle- and lower-income workers see only modest relief or higher costs elsewhere. Some older adults benefit from a $6,000 deduction, but benefits vary by income and family structure, raising concerns about rising inequality even as the White House markets the law as “working family tax cuts.”

via NBC News|
#economy#inequality#middle-class
economy2 days ago

Milder Q4 2025 GDP Gain Highlights Consumer Strength Amid Investment Slowdown

BEA’s third estimate shows U.S. real GDP rising 0.5% at an annual rate in Q4 2025, revised down 0.2 percentage point from the second estimate due mainly to weaker investment. Growth was supported by higher consumer spending and investment but weighed down by declines in government spending and exports, with imports also subtracted. Private services-producing activity rose 2.3%, while government (-7.8%) and private goods-producing (-1.8%) fell; wholesale trade, information, and health care and social assistance were key contributors. Real final sales to private domestic purchasers rose 1.8%; real gross output fell 0.5%. Corporate profits climbed about $247 billion in Q4. For 2025 overall, real GDP rose 2.1% and personal income grew 4.9%, with gains across states; Hawaii benefited from Maui wildfire settlement transfers, while DC lagged. The release notes that the October 2025 government shutdown shaved roughly 1.0 percentage point from Q4 growth and that October CPI data were imputed. Next BEA update is April 30, 2026.

via U.S. Bureau of Economic Analysis (BEA) (.gov)|
#bea#economy#gdp