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Inflation Finally Moved in the Right Direction in April

Year-over-year inflation ticked down to 3.4%

(Newser) - Consumer inflation in the US cooled slightly last month after three elevated readings, likely offering a tentative sigh of relief for officials at the Federal Reserve but not bringing things to a level that would indicate a rate cut is nigh, reports the AP . Prices rose 0.3% from March...

Biden Struggles to Engage 3 Key Voting Groups

Young, Black, and Hispanic voters are big reason he trails in 5 of 6 swing states: 'NYT'

(Newser) - President Biden is behind in most of the states that could decide the election, a new poll from the New York Times , Siena College, and the Philadelphia Inquirer suggests. Results in a head-to-head matchup in six states, all of which were won by Biden in 2020:
  • Pennsylvania: Trump 47, Biden

3 Stats Illustrate Challenges of Modern Grocery Shopping

'Wall Street Journal' reports that people are driving around for bargains more these days

(Newser) - A story in the Wall Street Journal explores how people are coping with high grocery prices, and the piece is captured in a few stats:
  • Grocery prices are up 21% over the last three years.
  • People are making 8% more trips to the store this year compared to last year.

Dimon Issues Warning About Markets
About Markets

Dimon Issues Warning About Markets

JPMorgan Chase boss finds markets a little 'too happy'

(Newser) - He's been wrong about this before, as when he expected a major recession for last year, but still, Jamie Dimon has unique experience and a good view of the global economy. So reporters listened Friday when the chief executive of JPMorgan Chase elaborated on why he senses trouble ahead....

Mortgage Rates Head Toward Unwanted Threshold

They're back up near 7%, putting a damper on an expected housing resurgence

(Newser) - Homebuyers, builders, Realtors, and pretty much everyone connected to the housing industry hoped this spring would be a robust one for sales because of declining mortgage rates. But as the Wall Street Journal reports, things are going in the opposite direction. Rates are now heading back toward 7%, a threshold...

Inflation Is Still Running Too High
Inflation Is Still
Running Too High

Inflation Is Still Running Too High

New report is again above expectations, at 3.5%

(Newser) - A new and highly anticipated inflation report is out, and the numbers show that inflation remains stubbornly above where the Federal Reserve wants it to be. The March report marks three months in a row of higher-than-expected inflation, which could further jeopardize the Fed's plan to cut rates three...

Those 3 Fed Rate Cuts Are Starting to Look Shaky

Friday's strong jobs report has economists adjusting their expectations

(Newser) - Fewer than three weeks ago, the Fed signaled that they still expected to cut their key interest rate three times in 2024 , taking it down three-quarters of a point from its current 5.25% to 5.5% range. Traders are now growing increasingly doubtful that many cuts will come to...

Trader Joe's Hasn't Upped Cost of This in 20 Years—Until Now
Trader Joe's: Sorry, Everyone,
We Had No Choice on This

Trader Joe's: Sorry, Everyone, We Had No Choice on This

Grocery chain increases price of single banana from 19 cents to 23 cents, first bump since 2001

(Newser) - Trader Joe's has been selling bananas for 19 cents apiece since the George W. Bush administration, but staffers are now changing up the fruit's price tags. It's not quite a Lucille Bluth-level bump , but the grocery chain will now be hawking individual bananas for 23 cents each...

Federal Reserve Keeps Rate As-Is Yet Again

It holds for 5th straight time, with 3 cuts still expected in 2024

(Newser) - After ending their latest meeting, Federal Reserve officials kept their benchmark interest rate unchanged for a fifth straight time at between 5.25% and 5.5%, reports the Wall Street Journal. They signaled that they still expect to cut their key interest rate three times in 2024 despite signs that...

Inflation Did Not Cooperate Last Month

Consumer prices ticked up as Biden administration hopes they ease

(Newser) - Consumer prices in the United States picked up last month, a sign that inflation remains a persistent challenge for the Federal Reserve and for President Biden's reelection campaign, both of which are counting on a steady easing of price pressures this year.
  • Slight increase: Prices rose 0.4% from

Discount Grocer Aldi Adding 800 New Stores

Chain hopes to capitalize on US shoppers weary of inflation

(Newser) - Aldi plans to add 800 of its grocery stores across the US in a five-year expansion plan as it looks to capitalize on cost-conscious Americans feeling the pinch at grocery stores. Aldi said Thursday that it's looking in particular to add about 330 stores across the Northeast and Midwest...

New Inflation Report Is a Disappointment

It's running at 3.1%, higher than expected

(Newser) - Annual inflation in the United States cooled last month, but not as much as expected, the latest sign that the pandemic-fueled price surge is only gradually and fitfully coming under control, per the AP .
  • The numbers: Tuesday's report from the Labor Department showed that the consumer price index rose

Argentina Wraps 2023 With Historic Inflation
2023 Inflation in
Argentina: 211%

2023 Inflation in Argentina: 211%

New president says astronomical rate will soon be followed by a reduction

(Newser) - Argentina's annual inflation soared to 211.4% in 2023, the highest rate in 32 years, according to figures released Thursday by the government's INDEC statistics agency. The data reflect the strong impact of a series of shock measures, including a 50% devaluation of the nation's currency, implemented...

Bumpy Inflation Ticked Up in December

But the rise is modest, and core prices were below 4% for the first since 2021

(Newser) - Higher rents and food prices boosted overall US inflation in December, a sign that the Federal Reserve's drive to slow inflation to its 2% target will likely remain a bumpy one, per the AP .
  • The numbers: Thursday's report from the Labor Department showed that overall prices rose 0.

French Grocery Giant Drops PepsiCo Products Over Prices

Carrefour says prices must come down as inflation does

(Newser) - Inflation may finally be starting to ease, but prices for some items are showing no signs of coming back down—and now one of the biggest supermarket chains in the world is taking a stand. Carrefour, France's largest food retailer, which runs thousands of stores in 30 countries, has...

Home Alone Fan Has Some Fun With Inflation

A TikTok user is going deep into how prices have changed since the movie premiered in 1990

(Newser) - Home Alone is the top movie rewatch during the holiday season, and some viewers this year had a little time on their hands to also make it a lesson in inflation. Per USA Today , TikTok-er Geoffrey Lyons analyzed a scene in the film where 8-year-old Kevin McCallister hits up a...

New CBO Projections Raise Hopes of a 'Soft Landing'

Agency predicts inflation will nearly reach the Fed's target of 2% next year

(Newser) - The Congressional Budget Office said Friday it expects inflation to nearly hit the Federal Reserve's 2% target rate in 2024, as overall growth is expected to slow and unemployment is expected to rise into 2025, according to updated economic projections for the next two years. The office's Current...

New Inflation Report Should Keep Fed Happy

Annual rate cools slightly to 3.1%, suggesting Federal Reserve won't raise rates this week

(Newser) - US inflation ticked down again last month, with cheaper gas helping further lighten the weight of consumer price increases in the United States. At the same time, the latest data on consumer inflation showed that prices in some areas—services such as restaurants, used cars, and auto insurance—continued to...

Inflation Report Is Better Than Expected

It cools off in October to 3.2%

(Newser) - The new inflation report is out, and it's likely to make the Federal Reserve pretty happy: It cooled down last month in a sign that the Fed's interest rate hikes are having the desired effect, per the AP .
  • Key numbers: Tuesday's report from the Labor Department showed

At 140%, Inflation Changes Clothes Shopping in Argentina

Secondhand markets boom: 'We simply can't buy new things'

(Newser) - With Argentina in its worst economic crisis in decades, shopping for clothes has become more complicated. "You can't just go to the mall and buy something you like as you did before," said Aylen Chiclana, 22, a student in Buenos Aires. "Today prices are unthinkable."...

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