U.S. Economy Grew at a Sluggish 1.5% Annual Rate in the Second Quarter
The U.S. economy expanded at a 1.5% annual rate in the second quarter as elevated inflation, fuel prices and borrowing costs continued to pressure households and businesses.
Inflation
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IMF Holds 2026 Global Growth Forecast at 3% as War and AI Investment Pull Economies Apart
The IMF kept its global growth forecasts for 2026 and 2027 unchanged, but warned that energy shocks, stalled disinflation and financial repricing are widening differences between economies.
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Fed says tariffs, energy costs and AI investment pushed U.S. inflation higher
The Federal Reserve’s July report to Congress said inflation rose notably in recent months, while the economy continued to expand and the labor market remained broadly stable.
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July Inflation Report Set for Aug. 12 After June Consumer Prices Fell 0.4%
The Bureau of Labor Statistics will release the July 2026 Consumer Price Index on Aug. 12. June headline prices fell monthly but remained 3.5% higher than a year earlier.
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IMF Holds 2026 Global Growth Forecast at 3% as War and Stalled Disinflation Raise Risks
The International Monetary Fund kept its global growth forecast at 3.0% for 2026 and 3.4% for 2027, while warning that the Middle East war, energy exposure and renewed financial repricing are making the outlook more uneven.
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BLS set to release July jobs report as wage growth outpaces inflation
The Bureau of Labor Statistics is scheduled to release its July 2026 employment report on Aug. 7, while its latest data show median weekly earnings rose 4.6% year over year in the second quarter.
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Hawaii forecasts slower 2026 growth, modest job gains and 3.8% Honolulu inflation
Hawaii’s economic forecast calls for continued growth in 2026, but at a slower pace, with modest employment gains and elevated Honolulu inflation gradually easing through 2029.
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Russia’s Bank of Russia Publishes Rate Discussion After Cutting Key Rate to 14%
The Bank of Russia’s Aug. 5 policy materials follow its July 24 decision to cut the key rate by 25 basis points to 14%, while the central bank continues to flag inflation expectations, wage growth and geopolitical pressures.
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Global Growth Holds at 3% as IMF Warns of Uneven Risks
The IMF kept its global growth projections steady but raised its inflation outlook, warning that energy, trade and financial risks remain unevenly distributed.
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July CPI report due Aug. 12 after June energy-driven decline
The July CPI report is due Aug. 12. June prices fell as energy costs dropped, but food, shelter and underlying costs remain key household concerns.
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Russia’s Central Bank Slows Rate Cuts as Inflation Risks Persist
Russia’s central bank cut its key rate to 14%, but higher fuel costs, inflation expectations and weaker growth are keeping borrowing conditions tight.
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U.S. Median Weekly Earnings Reached $1,251 in Q2 2026
Median weekly earnings rose 4.6% for full-time U.S. wage and salary workers in the second quarter, but major pay differences remained across worker groups.
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June inflation fell, but groceries and shelter still rose
June CPI fell 0.4% as energy and gasoline prices dropped, but groceries and shelter rose, leaving households with a higher overall price level.
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How Middle East Oil Disruption Can Raise Household Costs
Fuel markets are reacting first to renewed Middle East disruption, while freight, groceries, school goods and travel could face slower, uneven cost increases.
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BOJ minutes show why inflation, yen and energy costs complicate rates
Bank of Japan minutes show a tightening bias, but energy costs, yen weakness and Middle East risks leave the timing of the next rate move uncertain.
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June wholesale prices fell, but broad consumer relief is not here yet
June wholesale prices fell 0.3%, led by cheaper energy, but rising services and underlying costs mean U.S. households may not see broad relief soon.
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Consumers Kept Spending in June as Saving Rate Fell to 2.7%
U.S. households increased inflation-adjusted spending in June, but slower income growth, lower saving and persistent inflation raised questions about resilience.
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What to watch next after the weak second-quarter GDP reading
The economy grew 1.5% in the second quarter, but trade and inventories clouded the picture. Jobs, productivity and inflation data will test its strength.
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ECB holds rates as energy shock clouds Europe’s inflation outlook
The ECB held rates on July 23 as June inflation eased, but volatile energy prices could still affect borrowing costs and the next policy decision.
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Restaurant prices are rising more slowly than groceries. What that means for diners
Restaurant prices remain higher than groceries year over year, but grocery inflation has run faster in 2026. The gap varies by restaurant type and region.
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UK shop-price inflation slows as supermarket promotions spread
British shop-price inflation slowed to 0.9% in July, but prices remained higher than a year earlier as food and seasonal promotions restrained increases.
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Restaurants see sales edge higher as jobs and traffic remain uneven
June restaurant sales barely increased while food-service jobs fell and menu prices stayed elevated, showing why higher receipts do not mean stronger demand.