Inflation keeps defying tariff fears
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The average rate on 30-year fixed home loans from Freddie Mac ticked down again to 6.84% for the week ending June 12.
Consumer sentiment increased in June for the first time in six months, the latest sign that Americans’ views of the economy have improved as inflation has stayed tame and the Trump administration has reached a truce in its trade fight with China.
Major equity indices, which had been hovering near all-time highs, pulled back as geopolitical risks surged back to the forefront.
The consumer price index increased 0.1% for the month of May, lower than economists' predictions, with the annual rate reaching 2.4%.
Israel's annual inflation rate eased more than expected to 3.1% in May, official data showed on Sunday, although it is still slightly above target and the escalation of the country's conflict with Iran poses additional risks to the outlook.
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The average hourly earnings for private sector workers in Michigan has increased at nearly the same rate as inflation in the past five years.
The European Central Bank's inflation target of 2% is in reach, ECB President Christine Lagarde was quoted as saying in an interview published on Saturday. In the interview with China's Xinhua news agency earlier this week which was released on the ECB website,
Israel’s attacks on Iran’s nuclear facilities risk pushing back the timeline for Federal Reserve interest-rate cuts as the US central bank waits to assess any potential impact on inflation, economists said.
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Consumers are starting to feel more optimistic, based on the latest University of Michigan sentiment data. Part of that rise may be because they are less worried about inflation. Yahoo Finance Markets Reporter Josh Schafer takes a closer look at the data.