U.S. inflation slowed in December

first_img Another jump in prices tightens the squeeze on U.S. consumers Related news Share this article and your comments with peers on social media Associated Press Keywords Inflation,  United States Stagflation is U.S. economists’ biggest fear, SIFMA sayscenter_img U.S. economy is warming up, but unlikely to overheat: Moody’s Over the past 12 months, overall inflation is up 2.1% while core inflation, which excludes volatile food and energy costs, rose 1.8%. The overall 2.1% price increase was identical to the inflation gain in 2016 with both years up from tiny increases of 0.8% in 2014 and 0.7% in 2015. Low inflation has made the U.S. Federal Reserve cautious about raising interest rates too quickly. After maintaining a benchmark policy rate at a record low near zero for seven years, the Fed started gradually raising rates in December 2015 with one quarter-point hike, and another in 2016. The Fed last year accelerated that pace, raising rates three times and signalling at its meeting last month that it expected to raise rates at the same clip this year. However, economists believe the central bank may be forced to accelerate that pace if there are hints that inflation is beginning to rise more rapidly, given that unemployment continues to hover at 17-year lows. Paul Ashworth, chief U.S. economist at Capital Economics, said that the December report, with a 0.3% rise in core prices, the largest in 11 months, bolstered his view that the Fed will accelerate rate increases this year. He said he expected the next rate hike to occur in March with a total of four hikes this year. He said this forecast was based on a view that inflation will begin to show bigger gains in coming months. “Once spring comes around … the big declines in components like wireless telephone services will drop out of the annual calculation and the core inflation rate will rebound well above 2%,” Ashworth said. For December, energy prices fell 1.2% after surging 3.9% in November. The December decline was led by a 2.7% drop in the price of gasoline, which had jumped 7.3% in November. Currently, the nationwide average for gas is $2.52, up from $2.35 a year ago, according to AAA. The government figures show that gas prices are up 6.9% from December 2016. Food costs edged up 0.2% in December and are up a modest 1.6% over the past year. Core inflation rose 0.3% in December with core prices up 1.8% over the past 12 months. Clothing costs are one key sector bucking the trend of higher prices. Clothing costs have fallen the past four months are down 1.6% over the past year. Consumer inflation in the United States slowed in December to a tiny 0.1% gain as energy costs retreated from a big jump in November. The December increase in American consumer prices followed a sharper 0.4% increase in November, the U.S. Labor Department reported Friday. The December gain was the smallest advance since October. Facebook LinkedIn Twitterlast_img read more

Dolly Parton Appears On ‘The Late Show,’ Makes Stephen Colbert Cry [Videos]

first_imgDolly Parton was the featured virtual guest on Tuesday’s episode of The Late Show with Stephen Colbert, where the country singer/songwriter was promoting her forthcoming autobiography/coffee table book, Songteller: My Life in Lyrics, due out next month.For her appearance, Parton appeared via video screen to discuss her new book by taking viewers back through her well-documented journey which began as a kid growing up in the Tennessee mountains, where music was a big part of her life from the beginning.“I really think of myself as a song teller, ’cause I write songs but I tell stories in my song,” Parton said to start the interview when discussing the meaning of her new book. “I thought, ‘Well that’s a good name for my coffee table book,’ it has about 170 some-odd songs of mine, and I tell stories about why I wrote them and what kind of frame of mind I was in.”Parton went on to tell Colbert how songwriting has been so important on a personal level throughout her life, talk about writing tunes that would be performed by Emmylou Harris and Whitney Houston, and reflect on the musical imprint her family left on her. At one point when discussing one of the songs that her mother used to sing to her, Parton belted out the lyrics to the a-cappella folk tune, which actually appeared to move the show’s host to tears on air.Related: Dolly Parton’s Non-Profit Foundation Has Now Given 100 Million Books To Kids In Need [Video]Watch the two interview segments from Tuesday’s episode below.The Late Show With Stephen Colbert – Dolly Parton Interview Pt. 1 – 10/20/20[Video: The Late Show with Stephen Colbert]The Late Show With Stephen Colbert – Dolly Parton Interview Pt. 2 – 10/20/20[Video: The Late Show with Stephen Colbert]Parton returned to the headlines earlier this month with the arrival of her latest holiday album, A Holly Dolly Christmas, which features guest contributions from Willie Nelson, Miley Cyrus, Billy Ray Cyrus, Michael Bublé, and that other late-night host and JRAD superfan Jimmy Fallon.last_img read more

Carlos Queiroz fumes after Cristiano Ronaldo was not sent off against Iran

first_imgIran were held to a 1-1 draw with Portugal on Monday evening, but Queiroz was outraged when Cristiano Ronaldo was not sent off in the final 10 minutes for an off-the-ball elbow on Morteza Pouraliganji.The incident was reviewed on the pitchside screens by referee Enrique Caceres after a VAR referral, but he decided a yellow card would suffice.And during a 10-minute rant in English during his post-match press conference, Queiroz said he could not understand the decision.He said: “The reality is you stop the game for VAR and there is an elbow. An elbow is a red card in the rules. The rules don’t say if it is Messi or Ronaldo it’s a little bit.“Going back to the story about my daughter yesterday, I need to know if I am a grandfather or not. I don’t want to know if my daughter is ‘a little bit’ pregnant or there is evidence.“It is a red card. The question, for me, is not about the referees. It is about the attitude and the bravery and the character.“The decisions must be clear for everybody, for the people. In my opinion, Mr Infantino and FIFA, VAR is not going well. That is the reality.”He added: “The truth must be respected and we need to know who is refereeing the games. I am not in a good mood, as you can see.“If you implement VAR then to make mistakes is not human. To make mistakes is when a man alone on the pitch could not see something. We accept that.“But when you have high-technology, training, thousands of dollars spent on one system and five guys sitting upstairs and they don’t see an elbow.“It’s a yellow card? Give me a break.”Portugal took the lead through Ricardo Quaresma’s first-half goal and equalised through an injury-time penalty by from Karim Ansarifard, which was awarded with the use of VAR for a handball by Cedric Soares.However, Queiroz insisted there was no justice following his side’s exit.“We brought prestige to the World Cup,” he said.“It was a very competitive World Cup game, minute-by-minute, duel-by-duel, playing against one of the best teams in the world.“But I think Iran, without any doubt in my opinion, with the discipline, with the attitude, with the way we controlled the game, if there was some justice in football – which doesn’t exist – only one winner would have come out in this game. And that winner should be Iran.“They controlled the game and they passed – that’s normal – but in terms of managing the game, in terms of competitive attitude, attacking decisions and mentality I think we deserved to win the game.”last_img read more

Zinedine Zidane thinks Real Madrid are ‘ready’ for the Clasico

first_img Sport EN “The objective is to move above Atletico. Now we’re a lot closer. We have to have consistency in what we do. The attitude is fantastic, but sometimes we’re missing consistency across the whole game, although that’s part of football.” 21/03/2016 CET Los Blancos crushed Sevilla and now get the chance to avenge their 4-0 defeat by Barcelona at the Santiago Bernabeu earlier this season.  Zidane said: “Clasicos are always special. We have to keep improving and it was important to head into it with a victory. We’re ready, it’ll be a great game.”center_img Zinedine Zidane says Real Madrid are ‘ready’ for the Clasico in April. Upd. at 02:52 Of the win over Sevilla, he said: “I’m very happy with the game. We’ve had one of the best weeks in terms of training. This is the fruit of the players’ labour. We played one of the best games since I’ve been here. “Every game is different, I’m counting on every player until the end. Everyone is important. We can do great things playing like this and the players know that, but in football every game is different.last_img read more