Reflecting a sharp pullback in fuel prices, the Labor Department released a report on Wednesday unexpectedly showing a decrease in U.S. import prices in the month of August.The Labor Department said import prices fell by 0.3 percent in August after climbing by an upwardly revised 0.4 percent in July. Import prices decreased for the first time since October of 2020.The drop surprised economists, wh...
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May 15, 2026 15:25 ET Apart from the confirmation of Kevin Warsh as the next Fed chair, the main news on the economics front this week included key price data from the U.S. and the first quarter economic growth figures from major economies. Both consumer prices and producer costs have started to reflect the effect of supply shocks due to the Middle East conflict. In Europe, GDP data was in focus, while inflation data from China dominated the news flow in Asia.