
-
Taiwan says US tariffs 'highly unreasonable'
-
Lawson says ruthless Red Bull axing was 'tough to hear'
-
Heat humble Celtics for sixth straight win, Thunder roll on
-
Trump escalates trade war with sweeping global tariffs
-
Japan says US tariffs 'extremely regrettable', may break WTO rules
-
South Koreans anxious, angry as court to rule on impeached president
-
Juve at in-form Roma with Champions League in the balance
-
Injuries put undermanned Bayern's title bid to the test
-
Ovechkin scores 892nd goal -- three away from Gretzky's NHL record
-
Australian former rugby star Petaia signs for NFL's Chargers
-
China says opposes new US tariffs, vows 'countermeasures'
-
Athletics world watching as 'Grand Slam Track' prepares for launch
-
Heat humble Celtics for sixth straight win, Cavs top Knicks
-
Quake-hit Myanmar's junta chief to head to Bangkok summit
-
New Spielberg, Nolan films teased at CinemaCon
-
Shaken NATO allies to meet Trump's top diplomat
-
Israel's Netanyahu arrives in Hungary, defying ICC warrant
-
Shiny and deadly, unexploded munitions a threat to Gaza children
-
Stocks tank, havens rally as Trump tariffs fan trade war
-
Altomare hangs on to tie defending champ Korda at LPGA Match Play
-
Paraguay gold rush leaves tea producers bitter
-
Health concerns swirl as Bolivian city drowns in rubbish
-
Syria says deadly Israeli strikes a 'blatant violation'
-
Financial markets tumble after Trump tariff announcement
-
Starbucks faces new hot spill lawsuits weeks after $50mn ruling
-
Europe riled, but plans cool-headed response to Trump's tariffs
-
'Shenmue' voted most influential video game ever in UK poll
-
New coal capacity hit 20-year low in 2024: report
-
Revealed: Why monkeys are better at yodelling than humans
-
Key details on Trump's market-shaking tariffs
-
'A little tough love': Top quotes from Trump tariff talk
-
US business groups voice dismay at Trump's new tariffs
-
Grealish dedicates Man City goal to late brother
-
US tariffs take aim everywhere, including uninhabited islands
-
Trump sparks trade war with sweeping global tariffs
-
Israeli strikes hit Damascus, central Syria; monitor says 4 dead
-
Slot 'hates' offside rule that gave Liverpool win over Everton
-
US stocks end up, but volatility ahead after latest Trump tariffs
-
Barca oust Atletico to set up Clasico Copa del Rey final
-
Mourinho grabs Galatasaray coach's face after losing Istanbul derby
-
Grealish strikes early as Man City move up to fourth in Premier League
-
Reims edge out fourth-tier Cannes to set up PSG French Cup final
-
Liverpool beat Everton as title looms, Man City win without Haaland
-
Jota wins bad-tempered derby as Liverpool move 12 points clear
-
Inter and Milan level in derby Italian Cup semi
-
Stuttgart beat Leipzig to reach German Cup final
-
Trump unveils sweeping global tariffs
-
Italian director Nanni Moretti in hospital after heart attack: media
-
LIV Golf stars playing at Doral with Masters on their minds
-
Trump unveils sweeping 'Liberation Day' tariffs

US consumer inflation rises in December but underlying pressures ease
US consumer inflation rose for a third straight month in December as energy prices jumped but a widely watched measure eased slightly, raising hopes that underlying inflation may be moderating.
The consumer price index (CPI) accelerated to 2.9 percent last month from a year ago, up from 2.7 percent in November, the Labor Department said in a statement on Wednesday.
This was in line with the median forecast of economists surveyed by Dow Jones Newswires and The Wall Street Journal.
Stocks jumped on the news, with all three major indices on Wall Street closing sharply higher.
On a monthly basis, inflation rose by 0.4 percent, slightly faster than expected.
One of the biggest drivers of inflation in December was the energy index, which jumped by 2.6 percent, accounting for "over" 40 percent of the monthly increase, according to the Labor Department.
In some good news for the Federal Reserve, annual inflation excluding volatile food and energy costs came in at a lower-than-expected 3.2 percent, marking a slight decline from the month earlier.
- Focus on the core -
The so-called "core" measure of inflation increased by 0.2 percent, also slightly below expectations.
"The focus is really on the core reading, and the core reading did come in better than the consensus expectations," Nationwide chief economist Kathy Bostjancic told AFP.
The US central bank has cut rates by a full percentage point since September as it looks to bolster the labor market.
The recent uptick in inflation adds to expectations that it will remain firmly on pause at its next rate decision later this month.
However, higher prices could complicate President-elect Donald Trump's economic plans as he prepares to return to office on Monday.
Trump has floated several policies, from tariffs to deportation, that many economists say could have an inflationary impact.
The Republican and his supporters have disputed this characterization, claiming that many of his proposals aimed at deregulation and boosting energy production should help keep prices in check.
- Bond yields drop -
US bonds rallied as investors reacted to signs of slowing core inflation, pushing down yields, which move inversely to prices.
"The softer core reading is really what the markets are focusing on right now, and that's why you're seeing a big rally in the bond market," said Bostjancic from Nationwide.
Lower yields on US Treasurys -- especially the popular 10-year note -- would be good news for consumers, since they are referenced by businesses when they price mortgages and car loans.
Wednesday's data release is nevertheless expected to fuel expectations that the Fed will pause rate cuts later this month, as headline inflation appears to be moving away from its long-term goal of two percent.
The Fed uses a different inflation measure to set interest rates, known as the personal consumption expenditures (PCE) price index. That index has also been rising in recent months.
Futures traders see a roughly 97 percent chance that Fed policymakers will vote to hold interest rates between 4.25 and 4.50 percent at the next rate meeting on January 28 and 29, according to data from CME Group.
"The pace of inflation is still elevated," said Bostjancic.
"There's strength in the labor market, and the prospects of changes in tariffs and immigration policies that could push inflation higher will keep the Fed cautious and patient with regard to cutting rates further," she said.
"In that light, we see the Fed moving to the sidelines in the first half of the year to assess the evolving economic inflation and policy landscape," she added.
The financial markets see a roughly 80 percent chance that the Fed will make no more than two rate cuts this year, according to data from CME Group.
L.Durand--AMWN