The US economy grew at the fastest pace in two years in the third quarter, initial figures have indicated. The world's largest economy grew at an annual rate of 2.9% in the three months to September, the Commerce Department said. Analysts had predicted growth of just 2.5%.
US consumer inflation spiked in December, driven higher by rising fuel prices. The consumer price index rose 0.3% on a seasonally adjusted basis, the US Labor Department said.
Federal Reserve Chairman Ben Bernanke on Tuesday offered few new clues on whether the US central bank was moving closer to a fresh round of monetary stimulus, even as he underscored his concerns over the economy's weakness.
United States inflation rate decelerated slightly in August as gasoline prices climbed at a more modest pace and the cost of buying a new car held flat, the Labour Department said on Thursday.