President-elect Donald Trump on Monday will sign a memorandum aimed at fighting inflation after he takes office that calls for an "all of government" response to bring down costs for Americans, an incoming White House official said.

The biggest threat to the world economy in the next year is the prospect that inflation turns out to be persistent, former Swiss central bank chief Philipp Hildebrand said.

Nigeria plans to rebase its gross domestic product (GDP) and inflation data by the end of the month to capture changes in certain sectors of the economy and reflect current growth and consumption patterns,

WASHINGTON (AP) — Donald Trump is holding off on tariffs during his first day and placing a big bet that his executive actions can cut energy prices and tame inflation. But it’s unclear whether his orders will be enough to move the U.S. economy as he promised.

President Joe Biden will leave the White House with a strong economy, historic gains in the job market, a foundation for future manufacturing growth, and having brought down decades-high inflation without triggering a recession.

The consumer price index (CPI) rose 2.9 percent year-over-year in December, the largest annual increase since July. When stripping out the more volatile food and energy sectors, core inflation slowed to 3.2 percent, from 3.3 percent.

President Biden discussed the economy in the last interview of his administration on MSNBC’s “The Last Word with Lawrence O’Donnell" Thursday night.

Mortgage rates have experienced fluctuations over the last few months, with a general upward trend in recent weeks. As of January 15, 2025, the average 30-year fixed-rate mortgage stands at 7.01%, reflecting a slight increase from earlier this year — and from the rates we saw in late 2024.

Better bank earnings and inflation readings sent bond and stock prices higher. Earnings and politics will likely have the most significant impact on markets this week.

The latest inflation report slashed the risk that the Fed could go back to hiking interest rates this year, Wall Street strategists say.

The Consumer Price Index rose 2.9 percent from a year earlier, but a measure of underlying inflation was more encouraging.

Gas prices rose sharply, but investors homed in on a small decline in the core CPI.