GDP grew by 1.5 percent in the second quarter following a 2.1 percent increase in the first quarter.

Personal consumption expenditures, the Federal Reserve's preferred marker of inflation, fell for the first time in six years in June, the BEA reports.

Elevated inflation partly reflects supply shocks that that have increased prices, including of energy, the Fed said.

U.S. inflation cooled last month as the cost of gas, clothes, and used cars fell, providing some relief to consumers, while underlying price pressures also cooled more than expected. Prices dropped 0.

Gold gained as hopes for a US-Iran ceasefire eased oil prices, while investors weighed the implications for inflation and the ...

Fed Chair Kevin Warsh told lawmakers the central bank won't tolerate persistently elevated inflation and will take the steps needed to preserve price stability.

Stay up to date with our Up First newsletter, sent every weekday morning. Soaring gasoline prices, triggered by the U.S. war with Iran, have pushed inflation to its highest level in more than three ...

Pakistan, July 31 -- Rising tensions between the United States and Iran have renewed concerns over higher global energy ...

(The Conversation) — Americans don’t need a press release to know that inflation is rising. Gasoline is above $4 per gallon amid the ongoing conflict in the Middle East and closure of the Strait of ...