US inflation gathers some steam as economy improving

US inflation gathers some steam as economy improving

The cost of living is increasing more sharply in the United States, government data showed Thursday amid signs that the world's largest economy has been gaining some strength, dpa reported http://www.dpa.de

The Labour Department's January figures found that consumer prices increased 0.4 per cent for the second straight month, marking the highest inflation levels since mid-2009.

The news follows a spate of data in recent months suggesting the US economy could be emerging from a prolonged slump. The US Federal Reserve on Thursday raised its own forecasts, predicting the economy would grow 3.4-3.9 per cent in 2011.

Also Thursday, a separate gauge of the US economy's prospects rose for the seventh straight month. The New York-based Conference Board's index of leading economic indicators added 0.1 per cent in January, though much lower than a 0.8-per-cent jump the previous month.

Conference Board economist Ken Goldstein said the economy started gathering momentum toward the end of autumn, and "the latest data suggest that trend will continue."

The inflation gains over December and January compared to more modest monthly increases over nearly two years. The last month before December that posted a 0.4-per-cent gain was June 2009.

But more than two thirds of the gains in January came from food and energy prices. Excluding those two more volatile costs, so-called core inflation stood at 0.2 per cent, the Labour Department said.

The US central bank has rejected calls from conservative lawmakers that it pay closer attention to inflation, pointing instead to a weak labour market that has yet to show significant improvement despite higher economic growth.

Unemployment remains at 9 per cent, though it has fallen over the last two months from 9.8 per cent in November. The Fed on Thursday said it expects the jobless rate to hold at 8.8-9 per cent for the remainder of this year and drop slowly over the next few years.

Over the last 12 months, consumer prices have climbed 1.6 per cent. The core rate in the past year has risen 1 per cent. The Fed on Thursday forecast that inflation would not climb above 1.7 per cent for 2011

Subscribe to Trend in Google News! Subscribe
Putin discusses results of meeting with President of Azerbaijan Ilham Aliyev and Prime Minister of Armenia Nikol Pashinyan with Security Council
Putin discusses results of meeting with President of Azerbaijan Ilham Aliyev and Prime Minister of Armenia Nikol Pashinyan with Security Council
Vladimir Putin announces agreement on unblocking transport corridors between Azerbaijan and Armenia
Vladimir Putin announces agreement on unblocking transport corridors between Azerbaijan and Armenia
Ban on import of Turkish building materials to Armenia to be lifted from 2022
Ban on import of Turkish building materials to Armenia to be lifted from 2022
Loading Bars
Latest
Azerbaijani servicemen suffer in mine explosion in Fuzuli district
Problem loans in Azerbaijani banks decrease for year
28th FIG Trampoline Gymnastics World Age Group Competitions continue in Baku (PHOTO)
Number of client accounts in Azerbaijani banks increases
Turkey discloses volume of cargo transshipped via Zonguldak port in 9M2021
Iran eyes increase in exports via customs of Markazi Province
Finalists in individual trampoline among men announced at 28th FIG World Age Group Competitions in Baku
Close relations between Iran, Azerbaijan, Turkey are important – Iranian President
Presidents of Kyrgyzstan, Turkmenistan discuss current areas of bilateral relations
Azerbaijan provided financial and humanitarian assistance to about 80 countries to support their fight against coronavirus - President Ilham Aliyev
Azerbaijan to allocate at least $1.3 billion for building new cities and towns in liberated territories in 2022 - President Ilham Aliyev
Our strategic foreign exchange reserves exceed our state external debt by over six times - President Ilham Aliyev
Over past 18 years, economy of Azerbaijan developed rapidly - President Ilham Aliyev
Finalists in double mini trampoline among women announced at 28th FIG World Age Group Competitions in Baku
Today I can say that Zangazur corridor becomes reality - President Aliyev (FULL SPEECH)
Confident that ECO Member States will benefit from Zangazur corridor - President Ilham Aliyev
Azerbaijan achieved favourable investment climate as result of large-scale reforms - President Ilham Aliyev
Finalists in tumbling among men announced at 28th FIG Trampoline Gymnastics World Age Group Competitions in Baku
Australia confirms two cases of Omicron COVID-19 variant
Zangazur Corridor to contribute to economic development of region - Turkish FM
President Ilham Aliyev participating in 15th Summit of Heads of ECO member-states in Turkmenistan (PHOTO/VIDEO)
Azerbaijani Defense Ministry presents weekly review (VIDEO)
Final day of 28th FIG Trampoline Gymnastics World Age Group Competitions starts at National Gymnastics Arena in Baku (PHOTO)
President of Azerbaijan Ilham Aliyev arrives in Turkmenistan for visit (PHOTO)
Azerbaijani, Iranian FMs meet at Economic Cooperation Council's meeting in Ashgabat
Georgia imposes new regulations for citizens from 8 countries
Turkey, Turkmenistan sign deals, strengthen ties in Erdoğan's visit
Indonesia bans arrivals from 8 African countries to curb Omicron variant
Volume of goods loaded/unloaded in Iranian ports up
Azerbaijan’s 10M2021 volume of loans issued to energy, chemistry and natural resources decreases
Kyrgyz president leaves for Turkmenistan for working visit
Kyrgyzstan adds 41 fresh COVID-19 cases
Access to finance remains major challenge for small businesses in Georgia - IFC
847 more COVID-19 cases reported in Kazakhstan
Parliamentary elections begin in Kyrgyzstan
Cooperation with regional countries, Iran’s top priority - İranian president
Spanish police march in Madrid to protest against 'Gag Law' reform
Storm Arwen: Third person dies as gale-force winds hit UK
U.S. imposes travel ban from eight African countries over Omicron variant
Israel to ban entry of foreigners from all countries over Omicron
Saudi Arabia allows entry of all travelers who received one dose of COVID-19 vaccine
Two workers die in accident preparing Spanish stadium for cup game
Iran's Energy Exchange announces products to be on sale on November 28
UK, Germany and Italy detect Omicron coronavirus variant cases
Results of Sochi summit fully reflect position of Azerbaijan - Russian expert
Awarding ceremony third day held as part of 28th FIG Trampoline Gymnastics World Age Group Competitions in Baku (PHOTOS)
Winners in synchronized trampoline jumping at 28th FIG Trampoline Gymnastics World Age Group Competitions in Baku determined
Baku names winners of World Age Group Competitions in jumping on double mini-trampoline for men
28th FIG Trampoline Gymnastics World Age Group Competitions: Russian gymnast takes first place in tumbling
Baku names winners of World Age Group Competitions in jumping on double mini-trampoline for women
Azercell announces contest on social network
Gymnast from Kazakhstan win gold in acrobatic jumping at 28th FIG Trampoline Gymnastics World Age Group Competitions
Best moments of third day of the World Age Group Competitions in Trampoline Gymnastics and Tumbling in Baku (PHOTOS)
World age group competition in Baku - Russian gymnast wins first place in individual trampoline jumping
Russian gymnast wins gold in individual trampoline jumping in Baku
Turkmenistan boosts imports of electrical goods from Turkey
Turkmenistan agrees to participate in Lapis-Lazuli project
Smoking to be banned in taxis in Georgia
Iran’s Bahar Azadi gold coin price rebounds
11,358 people received COVID-19 vaccine in Kyrgyzstan over past day
Prepared hard for the 28th World Competition in Baku - athlete from Denmark
Finalists in synchronized trampoline jumping among men and women announced at 28th FIG World Age Group Competitions in Baku
Finalists in individual trampoline jumping among men announced at 28th FIG World Age Group Competitions in Baku
Azerbaijan expects mutual steps from Armenia towards achieving peace - FM
Azerbaijani, Turkish FMs meet at Economic Cooperation Council's meeting in Ashgabat
Phone conversation held between Presidents of Azerbaijan and Belarus
Azerbaijan shares data on number of vaccinated citizens
Azerbaijan confirms 1,617 more COVID-19 cases, 1,979 recoveries
ECO Council of FMs supports Azerbaijan's proposal to establish Clean Energy Center (PHOTO)
Buy/sell operations at Iran Mercantile Exchange revealed
Finalists in double mini-trampoline jumping among men announced at 28th FIG World Age Group Competitions in Baku
Finalists in acrobatic jumping among men named at 28th FIG World Age Group Competitions in Baku
Azerbaijani gymnast Seljan Mahsudova reaches finals of World Age Group competition
Kazakhstani Astana- Motors to produce Hyundai cars in Uzbekistan
Iran reveals COVID-19 data for November 27
Finalists in acrobatic jumping among women announced at 28th FIG World Age Group Competitions in Baku
Novavax developing vaccine that targets new COVID-19 variant
Eni sells some stakes to Snam
28th FIG Trampoline Gymnastics World Age Group Competitions underway in Baku (PHOTOS)
Azerbaijan reveals financing of pensions, benefits for 9M2021
Turkish company to organize cotton-textile cluster in Uzbekistan
Finalists in double mini-trampoline among women announced at 28th FIG World Age Group Competitions in Baku
Georgia’s imports from Turkmenistan triple
Coach set goal to enter top three in individual trampoline jumping - Russian gymnast
Uzbek National Bank to issue its bonds on Russian Exchange
33,946 new Covid cases registered in Russia in 24 hours
Georgia to replace damaged buildings – Mayor of Tbilisi
Meeting in Sochi - new step towards sustainable peace in South Caucasus - Turkey's presidential administration
Turkey's cargo traffic via its Gulluk port for 9M2021 revealed
GUAM shares reviews of results of Georgia's presidency
Uzbekistan to sell shares of its two banks to Russian banks
EBRD to support green innovation in Uzbekistan
Turkmenistan's On Dogan to scale up production of vegetables, melons
Turkey shares data on cargo shipment via its ports from Greece for 9M2021
Azerbaijan limits import of poultry products from number of countries
Number of flights from Iran’s Shahid Beheshti International Airport soars
Turkey discloses volume of cargo shipment via its ports from Italy for 9M2021
Iran resumes activity of several enterprises in Sistan and Baluchestan Province
Azerbaijan’s Nakhchivan notes increase in agricultural production for 10M2021
Relations between Baku, Moscow experience highest dev’t stage in history of Azerbaijan's independence – experts
All news