Good Afternoon everybody, A MArthA MAccAllum And this is the story. Trump support is lining up on long islAnd, New York. As former President Trump is mAking A plAy for the stAte of New York. This is A huge crowd thAt turned out this Afternoon, the CAmpAign OfficiAl would join me on why the president is spending his time in New York, former President Trump rbc there is A lot of people thAt will be very hAppy to see him with her this Afternoon. There is An AeriAl short AeriAl shot Aint uniondAle in New York. ThAt will hAppen At 7 00 p. M. This evening. We will Also speAk to the orgAnizer who is now bAck on to the trump cAmpAign, we will get the lAtest from him. In the meAntime breAking right now, you might hAve heArd this but if not, the FederAl Reserve hAs slAshed Interest RAtes for the first time since precovid19. TodAys cut is hAlf A point, 50 BAsis Points, mAking the rAnge between 4. 75 And 5 . The lAst CArd HAbit in mArch of 2020, thAt is A debit thAt is seAred in our memory At the
Thats slightly higher than expected and driven mainly by higher costs for gasoline and rents. In the 12 months up to february, the cpi rate increased by 3. 2 , compared to 3. 1 injanuary. The core rate, stripping out those volatile elements such as fuel and rents, fell to 3. 8 from 3. 9 injanuary, but that was still higher than the 3. 7 expected. This latest data suggests there is still some stickiness with inflation that will be scrutinised by the Federal Reserve as it weighs up a highly anticipated Interest Rate cut injune. Lets head over to new york and speak to our north America Business correspondent michelle fleury. As far as the fed is concerned, it is about how they respond to this number. It is not going in the direction they wanted it to. The tricky word direction they wanted it to. The tricky word that direction they wanted it to. Tue tricky word that you direction they wanted it to. Tte tricky word that you were stumbling over, sticky, and a lot of this is to do with housin
The core rate, stripping out those volatile elements such as fuel and rents, fell to 3. 8 from 3. 9 injanuary, but that was still higher than the 3. 7 expected. This latest data suggests there is still some stickiness with inflation that will be scrutinised by the Federal Reserve as it weighs up a highly anticipated Interest Rate cut injune. Lets head over to new york and speak to our north America Business correspondent michelle fleury. Not michelle fleury. A huge rise but not heading in the not a huge rise but not heading in the right direction . The right direction . People were hoinu to the right direction . People were heping to see the right direction . People were hoping to see more the right direction . People were hoping to see more evidence hoping to see more evidence that prices were cooling and moving in the direction they wanted, this probably goes in the negative column, inflation is a bit hotter than people would like to see, and it does not necessarily mean a different
and it has fallen pretty sharply from its peak of more than 9% injune of last year. it is a sign that the federal reserve s moves to raise interest rates to slow down inflation seems to be working. but analysts still think america s central bank will raise interest rates one more time at their next meeting. now, the cooler inflation is good news for consumers but it is also good news for us presidentjoe biden, who touted the administration s efforts to bring prices down. now, he s facing re rlection next year and being able to control inflation without pushing the economy into a recession will be key if he want another four years in the white house. william lee is the milken institute chief economist and he says everyone is wondering whether this is a turning point. that is the ultimate question at the fomc and all the central banks around about asking themselves, has it peaked? a lot of the inflation decreases have come about because supply chain to become restored around th
a month ago we learned it had fallen to 8.7%, but food price inflation was over twice that, hurting many consumers even harder. one pizzeria owner, sergio from brighton, has been telling the bbc how inflation has been affecting his business costs that he has to pass onto consumers. we noticed that, after the first lockdown, let s say the tomato went from £20 per case to 25, and today reached £39 per case. bags of flour from £20, £21 per bag now we paid £32 per bag. another thing that is affecting is the salaries, as well the wages went up. the minimum wage is growing year by year. and this year, i think was 9% more for the minimum. so everything is affecting the price of our pizza. that is a business meant sharing impact on him. now, another area where many british households are facing the pinch is in housing costs. one mp is warning a mortgage time bomb is about to explode with mortgage rates rising. for those who are renting, many pay more still with the ave