Things like volatile food and energy prices, so called Core Inflation was 4. 7 , the lowest since october 2021. The good news is that inflation has drifted down from last summers a0 year highs, but it is still well above what the Federal Reserve thinks of as normal prices and with the overall trend heading in the right direction, policy makers, well, they may feel that they dont need to raise Interest Rates further. The us central bank, you may recall, raised its benchmark Interest Rate to more than 5. 25 percent, the highest level in 22 years, all in a bid to cool the economy and ease the pressures pushing up prices. So while its too early to say Mission Accomplished from the white house to wall street, there is a sense that progress is being made in the Worlds Largest economy. Chinas E Commerce Giant Alibaba reported its strongest quarterly Revenue Growth in almost two years, pushing its us listed shares up more than 4 . Earlier this week, the latest data showed Consumer Prices falli
Hi there, thank you for being with us. We begin with an ongoing tragedy in hawaii. At least 36 people have died in wildfires and President Joe Biden has issued a major Disaster Declaration. Hawaiis governor says it was the deadliest Natural Disaster for hawaii for generations and he expects the number of deaths to go up significantly. Thousands of people have been forced to leave their homes and hospitals are treating patients for burns and smoke inhalation. Our North America correspondent nomia iqbal has this report. Much of the Hawaiian Island of maui is now scorched earth. A pilot can hardly believe what hes seeing. Oh, my gosh, look at the harbour this looks like baghdad or something. The Historic Town of lahaina barely exists any more. Since the fire began on tuesday, it has ripped through, fuelled by Hurricane Force winds, leaving burnt out cars on once busy streets, and instead of historic buildings, there are Smoking Piles of rubble. Everybody still out here, its time to go for
plus. a bright spot in china s economy.. e commerce giant alibaba delivers its strongest revenue growth in almost two years. hello and welcome to asia business report. i m mariko oi. we begin in the us where prices rose moderately last month, despite a sharp increase in interest rates to stamp out inflation. the figures suggest the federal reserve s monetary policy is succeeding in taming soaring prices but thejob might not be done just yet. michelle fleury has more from new york. the us government reported that inflation increased 3.2% from a year earlier. that was up from a 3% annual rise injune. the increase is due in part to higher housing, car insurance and food costs. but once you strip out
in the world s largest economy but the battle against inflation is still 0n. plus. a bright spot in china s economy.. e commerce giant alibaba delivers its strongest revenue growth in almost two years. hello and welcome to asia business report. i m mariko 0i. we begin in the us where prices rose moderately last month, despite a sharp increase in interest rates to stamp out inflation. the figures suggest the federal reserve s monetary policy is succeeding in taming soaring prices but thejob might not be done just yet. michelle fleury has more from new york. the us government reported that inflation increased 3.2% from a year earlier. that was up from a 3% annual rise injune. the increase is due in part to higher housing, car insurance and food costs. but once you strip out