May 15, 2025
US inflation rates have finally started to relax over the past 12 months: Prices rose at an annual rate of 2.3% in April, within touching distance of the Federal Reserve’s 2% target. This chart shows what product categories fed the inflation surge in 2022 — and its subsequent slowdown.
The recent drop in inflation rates is in large part thanks to plateauing transport costs, which spiked in 2021 and 2022 amid global supply-chain issues and Russia’s invasion of Ukraine. However, housing costs have continued to rise at a fairly steady pace, a symptom of the current US property crunch.
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From shopping to services, consumer spending is showing strength across categories. Holiday shopping got an early start, and it’s not just higher earners filling their carts. Bank of America Institute sees continued spending growth recovery for lower- and middle-income households. See what’s driving the trends.
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Members of the Green Bangla Garment Workers Federation hold a protest rally demanding the immediate reconstitution of the wage board for garment workers and the announcement of a minimum wage of Tk 30,000 in front of the National Press Club in Dhaka, Bangladesh, on October 9, 2026.
Mamunur Rashid/NurPhoto
Garment workers in Bangladesh have taken to the streets over the past week, demanding higher wages and forcing more than 600 factories to shut down nationwide.
As AI creates new opportunities, the people who understand a community best play an important role in determining how those opportunities take shape. Across the US, Microsoft is supporting AI literacy classes as part of a new program developed in collaboration with the Public Library Association, working through trusted local institutions to help people build practical AI skills. By pairing new technology with local knowledge, the initiative is helping communities explore how AI can support their needs and open new possibilities, while putting local leaders and organizations at the center of that work. Read the full story here.
People cast ballots inside the Cuyahoga County Board of Elections during early voting ahead of the midterm elections in Cleveland, Ohio, US, November 1, 2026.
REUTERS/Shannon Stapleton
We’re breaking down the three main issues that could help decide tomorrow’s elections: the cost of living, Israel, and AI.
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