Jea logic

A closely watched measure of inflation cooled notably in November, good news for the Federal Reserve as officials move toward the next phase in their fight against rapid price increases and a positive for the White House as voters see relief from rising costs.The Personal Consumption Expenditures inflation measure, which the Fed cites when it says it aims for 2 percent inflation on average over time, climbed 2.6 percent in the year through November. That was down from 2.9 percent the previous month, and was less than what economists had forecast. Compared with the previous month, prices overall even fell slightly for the first time in years.That decline — a 0.1 percent drop, and the first negative reading since April 2020 — came as gas prices dropped. After volatile food and fuel prices we...

Rodino Sawan stepped into the wire harness and dug his toes into the muddy track that threads the sweltering plantation. He pushed forward, straining against the cargo trailing behind him: 25 bunches of freshly harvested bananas strung from hooks attached to an assembly line.Six days a week, Mr. Sawan, 55, a father of five, tows batches of fruit that weigh 1,500 pounds to a nearby processing plant, often as planes buzz overhead, misting down pesticides. He returns home with aches in his back and daily wages of 380 Philippine pesos, or about $6.80.One day last year, the plantation bosses fired him. The next day, they hired him back into the same role as a contractor, cutting his pay by 25 percent.“Now, we can barely afford rice,” Mr. Sawan said. Still, he continued to show up, resigned to t...