British inflation slowed as expected in May, pulled down by air fares which leapt in April and the correction of a tax data error, although food prices shot up at the fastest rate in more than a year. Consumer prices rose in annual terms by 3.4% in May, the Office for National Statistics said on Wednesday, just as a Reuters poll of economists and the Bank of England had predicted. Services price inflation - a crucial metric for the BoE - cooled to 4.7% from 5.4% in April, matching the BoE's forecast for May. The Reuters poll had pointed to a reading of 4.8%. Earlier this month the ONS...
The number of Americans filing for unemployment benefits fell to 245,000 in the week ended June 15, 2025. The figure was lower than the 246,000 estimate and the previous weekly revised 250,000, the Labor Department said Thursday. Source: Newsmaker23
The Bank of Canada Governor Tiff Macklem said on Wednesday that the prospect of a new Canada-U.S. trade deal offers hope that tariffs will be removed, but cautioned that inflation could rise if tariffs stayed in place. U.S. President Donald Trump and Canada's Prime Minister Mark Carney this week agreed to reach a trade deal between the two countries in 30 days that could possibly resolve a trade conflict triggered by U.S. tariffs and the subsequent Canadian counter duties. "Restoring open trade between our countries is critical to jobs and growth in Canada," said Macklem in a speech in the...