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US consumer price growth slowed last month

Published Mon, 23 Dec 2024 11:48:46 GMT

By CHRISTOPHER RUGABER (AP Economics Writer)WASHINGTON (AP) — Consumer prices in the United States cooled last month, rising just 0.1% from April to May and extending the past year’s steady easing of inflation. At the same time, some measures of underlying price pressures remained high.Measured year over year, inflation slowed to just 4% in May — the lowest 12-month figure in over two years and well below April’s 4.9% annual rise. The pullback was driven by tumbling gas prices and smaller increases in grocery prices and other items.The drop-off in overall inflation isn’t likely to convince the Federal Reserve’s policymakers that they’re close to curbing the high inflation that has gripped the nation for two years. The Fed tends to focus more on “core” prices, which exclude volatile food and energy costs and generally provide a clearer view of inflation.And core prices remained high last month, rising 0.4% from April to May, the sixth straight month of increases at that level or high...

Longmeadow playground slide doused with acid, two injured

Published Mon, 23 Dec 2024 11:48:46 GMT

Two children suffered what were described as “burn-like injuries” after playing on slides that had been doused with acid at a park in Longmeadow, authorities said.Police and firefighters responded to Bliss Park in Longmeadow on Sunday morning for a report of a suspicious substance on the playground equipment, the fire department posted on social media.At about the same time, firefighters and emergency medical technicians went to a home in town for a report of two children with burns who had just left the park.Authorities determined that someone broke into a storage room where chemicals are kept at the park’s swimming pool and stole some muriatic acid. The acid, which can be used for cleaning or for maintaining a pool’s pH balance, was then poured on three slides, authorities said.Evidence was gathered and sent to the state crime lab for forensic analysis.No one has been charged, but authorities said the suspect or suspects may have also been injured.“We...

Trump heavily favored over DeSantis among California Republicans, poll shows 

Published Mon, 23 Dec 2024 11:48:46 GMT

Former President Donald Trump is favored over Florida Governor Ron DeSantis among registered Republican voters in California in the 2024 presidential primary, a new poll from Emerson College Polling and Inside California Politics shows. 54.5% of registered Republican respondents said they would most likely vote for Trump in the presidential primary, nearly three times as many who said they would vote for DeSantis (18.7%).The poll was conducted from June 4 - 7, before a federal indictment against Trump became public.Former Vice President Mike Pence was the top choice for 11.8% of those polled, with former South Carolina Governor Nikki Haley rounding out the top four with support from 5.7% of respondents. Most Californians think Dianne Feinstein should resign, poll shows However, among California voters, both Trump and DeSantis trailed President Joe Biden by more than 20 percentage points in hypothetical matchups.53.5% of respondents favored Biden over Trump, who was the prefer...

Californians most concerned about economy, half of voters oppose reparation recommendation, poll says

Published Mon, 23 Dec 2024 11:48:46 GMT

Nearly a quarter of registered California voters think the economy is the most important issue facing their state, a new survey by Emerson College Polling and Inside California Politics shows. 24.6% of voters surveyed placed the economy as being of primary concern for California, beating out homelessness (17.4%) and housing affordability (16.1%).Video Above: Trump heavily favored over DeSantis among California RepublicansMore than 5% of respondents also said either crime (10.5%), immigration (6.7%) or threats to democracy (5.4%) were their chief concern.The ranking of topics held mostly consistent among almost every group surveyed regardless of of age, race, gender, or region of the state.Only among registered Democratic voters did another issue, housing affordability, tie the economy as the voters’ highest concern. No group reported any issue as being more of a concern than the economy. Most Californians think Dianne Feinstein should resign, poll shows Registered Republican ...

Nigeria president-backed legislators elected leaders of parliament

Published Mon, 23 Dec 2024 11:48:46 GMT

ABUJA, Nigeria (AP) — Nigeria’s ruling party retained leadership of the West African nation’s parliament with the election Tuesday of its consensus candidates as Senate president and speaker of the House of Representatives.Godswill Akpabio was elected to lead the Senate and Tajudeen Abbas was picked as House speaker before members of parliament who won February elections were sworn into the chambers, where the ruling party has a majority. Akpabio and Abbas both had the backing of Nigeria’s new president, Bola Tinubu. All three belong to the ruling All Progressives Congress party.The Nigerian National Assembly has long been criticized for not serving as a check on the executive branch, a trend that analysts said would continue under parliament’s new leaders.Akpabio, who has been under investigation by Nigeria’s anti-graft agency for alleged corruption during his time as governor of the oil-rich Akwa Ibom state, will Akpabio, also becomes Nigeria’s National Assembly by virtue of...

How population growth is affecting everything from jobs to housing in the economy

Published Mon, 23 Dec 2024 11:48:46 GMT

OTTAWA — Rapid population growth is challenging economists’ understanding of the economy as they monitor how businesses and consumers are responding to high interest rates.The Canadian economy has outperformed expectations so far this year, avoiding the slowdown many forecasters were anticipating in response to the Bank of Canada’s aggressive rate hikes. The resilience of the Canadian economy prompted the central bank to raise interest rates again last week, saying that the risk of sticky inflation has risen.But a closer look at the numbers shows high population growth is partly responsible for the strong economic results, potentially propping up the housing market at a time when high interest rates are supposed to suppress demand.Here’s how population growth is affecting jobs, growth and the housing market: JobsThe Canadian labour market made a remarkable recovery post-pandemic and continued to add jobs even as interest rates began climbing last year.But much of t...

Stock market today: Wall Street opens higher after cooler reading on inflation

Published Mon, 23 Dec 2024 11:48:46 GMT

NEW YORK (AP) — Stocks are opening higher after a cooler reading on inflation bolstered Wall Street’s expectations for the Federal Reserve to hold off on raising interest rates again this week. The S&P 500 was 0.4% higher in early trading Tuesday, pushing further into heights it hasn’t touched since April 2022. The Dow edged up 50 points, or 0.1%, and the Nasdaq composite rose 0.7%. Stocks have been on a roll amid hopes the economy can avoid a severe recession and inflation will ease. Yields fell in the bond market as traders amped up bets for the Fed to announce no change to interest rates on Wednesday. THIS IS A BREAKING NEWS UPDATE. AP’s earlier story follows below.Wall Street inched modestly higher early Tuesday after new data showed that consumer prices in the United States cooled last month, though some underlying price pressures remained elevated.Futures for the S&P 500 ticked up 0.4% before the bell Tuesday, while the Dow Jones Industrial Average rose 0.2%. Oil price...

Suspect sought for death threats, brandishing weapon in North York

Published Mon, 23 Dec 2024 11:48:46 GMT

Toronto police are looking for a suspect who allegedly made death threats towards someone while armed with a knife in North York.Officers responded to a high-rise apartment building in the area of Yonge Street and Finch Avenue around 9 p.m. on Monday.It is alleged two people became involved in an argument at the building when one man made a death threat towards the other individual. The suspect then allegedly displayed a knife.The suspect fled the area before officers arrived.Police are looking for 23-year-old Shayan Gharebabai of Toronto. He is facing four charges including threatening death.Gharebabai is described as five-feet eight inches tall and 160 lbs, with black braided hair. He was last seen wearing a grey hoodie and grey pants.Anyone with information is being asked to contact police.

Poland seeks ally in Greece in campaign for World War II reparations

Published Mon, 23 Dec 2024 11:48:46 GMT

ATHENS, Greece (AP) — Senior Polish officials Tuesday said they plan to expand a campaign to seek massive World War II reparations from Germany, turning to Greece and other European countries as potential allies.Poland last year formally demanded compensation of $1.3 trillion — an amount close to the size of its annual gross domestic product — while Greece is seeking more than $300 billion for damage incurred by occupying Nazi Germans during World War II.Germany says damage claims were settled in the aftermath of the war, but Arkadiusz Mularczyk, a deputy Polish foreign minister, said Tuesday that his government in Warsaw would collaborate with other countries that suffered under Nazi occupation.“Countries, individually, have failed to find justice for the victims … Therefore, we must work together to seek justice,” Mularczyk told a conference on reparations, held in Athens and co-organized by the Polish Foreign Ministry.“The harm and losses are incontestable,” he said. “The d...

US lawmakers ask Biden Administration to punish South Africa for alleged support for Russia

Published Mon, 23 Dec 2024 11:48:46 GMT

CAPE TOWN, South Africa (AP) — A bipartisan group of U.S. lawmakers wants the Biden Administration to punish South Africa for what they call its support for Russia’s illegal invasion of Ukraine by relocating an important trade meeting to another country, according to a letter published Tuesday in The New York Times.The lawmakers also said that South Africa’s “aid” for Russia, including allegedly supplying Moscow with weapons for its war in Ukraine, calls into question its eligibility to receive trade benefits from the U.S. under the African Growth and Opportunity Act. South African Foreign Ministry spokesman Clayson Monyela said Tuesday in a statement that the U.S. lawmakers’ letter had been “noted” but South Africa still “enjoys the support of the U.S. government” for its hosting of the AGOA meeting.South Africa’s exports to the U.S. through AGOA were estimated at $3 billion last year. The U.S. is South Africa’s second-biggest trade partner behind Chin...