24 Hrs
Source:
The Boston Globe
Inflation rises as Apple hikes prices
Over the past week, U.S. economic data highlighted rising inflation, with consumer prices increasing 4.1% annually, driven primarily by higher gas and electronics costs. The Federal Reserve's preferred inflation measure reached a three-year high, raising concerns about potential political impacts ahead of midterm elections. Meanwhile, the economy grew by 2.1% in the first quarter, buoyed by business investment in artificial intelligence, though consumer spending declined. Despite these trends, unemployment claims remained low, and stock markets ended the week positively, despite downturns in tech and AI-related stocks.
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