Topic
federal reserve
Business At 4.2%, US Inflation Posts Biggest Gain in Three Years, Fed Rate Path Affected
The US consumer price index increased 4.2% in the 12 months through May, the largest gain since April 2023, according to the Bureau of Labour Statistics. Surging energy prices amid the West Asia conflict and renewed US-Iran tensions contributed to the rise, giving the Federal Reserve cover to keep interest rates unchanged into 2027. Wall Street indexes fell, with the S&P 500 tech index down 1.6%.
Commodities Gold Set for Weekly Loss as Inflation, Rate Hike Fears Persist
Gold prices declined on Friday, heading for a weekly loss as concerns over inflation and potential US Federal Reserve interest rate hikes pressured the market. Spot gold fell 0.5% to $4,191.17 per ounce, while US gold futures rose 2.4% to $4,212.70. The price action was driven by geopolitical headlines, including President Trump's decision to call off military strikes on Iran.