Stocks fall; wage increases could be putting pressure on prices; consumer confidence declines; home prices rise.

Pay increases speed up in the first quarter

The economy is changing so fast. It’s hard to keep up. Get the latest on what’s happening in the economy right now with two-times-a day briefings from Marketplace. More than just the numbers, we bring you the highlights from the most important stories about money, business and the economy. Subscribe to the Marketplace Minute® wherever you get your podcasts or add it to your Alexa flash briefing.

News

Consumer prices rose at an annual rate of 3.4%, a small decrease from March; retail sales were flat in April, as bargain-hunting shoppers held back; Justice Department says Boeing has breached deferred prosecution agreement; IEA trims global oil demand growth forecast.

Inflation moderated slightly in April

Stocks rise; services prices push up Producer Price Index; Biden Administration announces new tariffs on certain Chinese imports; new tariffs could put pressure on prices.

Producer prices rise in April

The producer price index rose 0.5% in April; Stellantis forms joint venture with China’s Leapmotor; U.S. regulators launch probe of Waymo vehicles; Home Depot sales fall.

Inflation at the wholesale level picked up steam

Stocks close mixed; people’s spending and income expectations pick up; Kraft Heinz reportedly thinking about selling off Oscar Meyer; inflation data due this week.

Consumer inflation expectations pick up in April

Massachusetts is suing asking for workers to be classified as employees; Johnson & Johnson selling off remaining stake in consumer business; TV ‘upfronts’ begin to lure advertisers; Mercedes-Benz workers in Alabama begin unionization vote.

Pay increases speed up in the first quarter

Download our free app to listen on your phone