Households squeezed as U.S. consumer prices accelerate; more pain coming

Consumer price index increases 0.8% in February Gasoline accounts for nearly a third of rise in CPI CPI jumps 7.9% year-on-year; costs of food, rent arises Core CPI rises 0.5%; increases 6.4% year-on-year WASHINGTON, March 10 (Reuters) – US consumer prices surged in February, forcing Americans to dig deeper to pay for rent, food and … Read more

U.S. may act alone to ban Russian oil imports, sources say

WASHINGTON, March 7 (Reuters) – The United States is willing to move ahead with a ban on Russian oil imports without the participation of allies in Europe, two people familiar with the matter told Reuters, in light of Russia’s invasion of Ukraine. President Joe Biden held a video conference call with the leaders of France, … Read more

U.S., European allies discuss banning imports of Russian oil

WASHINGTON, March 6 (Reuters) – The United States and European allies are exploring banning imports of Russian oil, US Secretary of State Antony Blinken said on Sunday, and the White House coordinated with key Congressional committees moving forward with their own ban. Europe relies on Russia for crude oil and natural gas but has become … Read more