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Oil headed for the longest stretch of weekly losses this year as central banks around the world stepped up the fight against inflation at the cost of economic growth.

Intensifying its fight against high inflation, the Federal Reserve raised its key interest rate Sept. 21 by a substantial three-quarters of a point for a third straight time and signaled more large rate hikes to come.

WASHINGTON — Sharply lower prices for gas and cheaper used cars slowed U.S. inflation in August for a second straight month, though many other items rose in price, indicating that inflation remains a heavy burden for American households.

WASHINGTON — An inflation gauge that is closely tracked by the Federal Reserve jumped 6.8% in June from a year ago, the biggest increase in four decades, and leaving Americans with no relief from surging costs.

Citing inflation and supply chain bottlenecks, transportation stakeholders called on congressional policymakers to help remedy current economic conditions.

U.S. inflation accelerated in June by more than forecast, underscoring relentless price pressures that will keep the Federal Reserve on track for another big interest-rate hike later in July.

WASHINGTON — A measure of inflation that is closely tracked by the Federal Reserve jumped 6.3% in May from a year earlier, unchanged from its level in April.

U.S. inflation hit a fresh 40-year high in May, unexpectedly accelerating in a broad advance that pressures the Federal Reserve to extend an aggressive series of interest-rate hikes and adds to political problems for the White House and Democrats.

WASHINGTON — Focused on relentlessly rising prices, President Joe Biden plotted inflation-fighting strategy May 31 with the chairman of the Federal Reserve, with the fate of the economy and his own political prospects increasingly dependent on the actions of the government’s central bank.

An inflation gauge closely tracked by the Federal Reserve rose 6.3% in April from a year earlier, just below a four-decade high set in March and the first slowdown since November 2020.