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Inflation Rate Declines for 6th Straight Month

US inflation slowed to 6.5% over the past 12 months in December

(Newser) - The Labor Department's eagerly anticipated inflation report for December is out, and it shows inflation again slowed, this time to 6.5% from a year earlier. That's down from 7.1% in November and marks the sixth straight year-over-year decrease since the figure hit a peak of 9....

The Changing Value of Money Requires Mental Adjustments

Expert says understanding of costs and spending is locked in early in adulthood

(Newser) - In the 1987 film Wall Street, Charlie Sheen's character admonishes his father—played by his father—for not keeping up with the changing value of a salary that once sounded high. "50K does not get you to first base in the Big Apple, Dad, not anymore," Sheen...

Rents Take a Plunge, Zillow Finds
Rents Take
a Plunge,
Zillow Finds

Rents Take a Plunge, Zillow Finds

Month-to-month drop could suggest inflation is easing

(Newser) - Rents posted a decline in November, an indication that inflation could be slowing. The 0.4% drop reported by Zillow was the largest month-to-month decline since the company began monitoring rents in 2015, Axios reports. Rents are still running above pre-pandemic levels, averaging $2,008 per month nationally. Because of...

It's an Ugly Day on Wall Street
An Ugly Day on Wall Street

An Ugly Day on Wall Street

Dow falls 764 points on weak consumer spending, fallout from Fed move

(Newser) - Ouch. The markets cratered at Thursday's opening bell and never recovered. A weak report on retail sales and worries that the Fed will keep raising rates were getting the bulk of the blame. For the day, the Dow fell 764 points, or 2.2%, to 33,202; the S&...

Americans Air Their Biggest Problems of 2022

Government, inflation emerge as top concerns in 2 polls

(Newser) - The biggest problem facing Americans is nothing new, according to Gallup. An average 19% of respondents chose government as the top problem facing the country in 11 monthly Gallup polls, the company announced Tuesday . That's the seventh time in the past decade that government has come out on top,...

Inflation Report Delivers Welcome News

Prices rose just 0.1% in November, 7.1% from a year ago

(Newser) - Inflation in the United States slowed again last month, the latest sign that price increases are gradually cooling. Consumer prices rose 7.1% in November from a year ago, better than expectations of 7.3%, the government said Tuesday. That was down from 7.7% in October and a recent...

Inflation Is a Big Worry for Black Friday Shoppers

People are more reluctant to spend big this year

(Newser) - Black Friday marks a return to familiar holiday shopping patterns, but inflation is weighing on consumers. Elevated prices for food, rent, gasoline, and other household costs have taken a toll on shoppers. As a result, many are reluctant to spend unless there is a big sale and are being more...

New Inflation Numbers Are Good News
New Inflation Numbers
Are Good News

New Inflation Numbers Are Good News

Wholesale prices rose less than expected, and Dow futures jump as a result

(Newser) - Another new economic report adds to the notion that inflation is easing—and markets appear to be pretty happy about it. The government said Tuesday that the producer price index, seen as a measure of wholesale inflation, rose 0.2% in October from September, less than the expected mark of...

Inflation Is Rising Fastest in This US City

Sorry, residents of Phoenix

(Newser) - The nation's latest inflation report may have delivered better news than expected, but prices remain stubbornly high across the nation. And, of course, some places are worse than others. WalletHub has crunched Consumer Price Index data to determine the metropolitan areas in the US where inflation is rising the...

Stock Market Just Had Its Best Day in Years
Stock Market Soars
on Inflation Data

Stock Market Soars on Inflation Data

S&P rises 5% for its best day since 2020

(Newser) - Stocks had their best day in years Thursday after a report showed inflation in the US slowed last month by more than expected:
  • The benchmark S&P 500 surged 207 points, or 5.5%, to 3,956.
  • The Dow rose 1,201 points, or 3.7%, to 33,715.
  • The

October Inflation Report Pushes Dow Futures Way Up

Consumer inflation hit 7.7% from a year ago, the smallest gain since January

(Newser) - Price increases moderated in the United States last month in the latest sign that the inflation pressures that have gripped the nation might be easing as the economy slows and consumers grow more cautious. Consumer inflation reached 7.7% in October from a year earlier and 0.4% from September,...

1.3 Million Diabetic Americans Forced to Ration Insulin

It can have serious if not deadly consequences

(Newser) - Nearly 30 million Americans have been diagnosed with diabetes, and over 7 million of them rely on a daily dose of insulin, including almost 1.9 million living with Type 1. For them, access to insulin is a matter of life and death, but as the Guardian reports, a recent...

'Take What You Get' on Turkeys This Thanksgiving

Inflation, supply chain issues, avian flu are pushing bird prices up, with no relief in sight

(Newser) - Just a few weeks ago, economists with the American Farm Bureau Federation warned that Americans should brace themselves for higher turkey prices this year heading into the holidays, blaming inflation and an outbreak of avian flu. Now, more recent numbers are in, and that dour outlook for the Thanksgiving dinner...

IRS Announces Record Boost for 401(k) Infusions

For 2023, you can deposit $22,500 to qualified retirement plans—up to $30K for those 50 and over

(Newser) - Good news for those who want to pump more money into their retirement savings: The IRS just raised the contribution limit on 401(k) plans for 2023, as well as for similar tax-deferred plans for public education workers, federal and state employees, and those who work for tax-exempt groups. That new...

Inflation-Adjusted Tax Rates Announced

Some could see lower tax rates in 2023

(Newser) - The Internal Revenue Service on Tuesday announced the adjustments that will be in effect for 2023 tax rates in response to soaring inflation, meaning some taxpayers could see a lower tax bill. As the New York Times reports, typically when tax rates are adjusted for inflation, the adjustments are "...

Macron Rivals, Nobel Laureate March Against Inflation

Demonstrators increase pressure on government

(Newser) - Thousands of protesters, including France's newly crowned Nobel literature laureate, piled into the streets of Paris on Sunday, in a show of anger against the bite of rising prices and pressure on the government of President Emmanuel Macron. The march for wage increases and other demands was organized by...

Social Security's COLA Increase Is the Biggest in 40 Years

It's 8.7% for 2023, but some say that's not enough to keep up with seniors' reality

(Newser) - The Social Security Administration just announced the biggest cost of living adjustment in four decades in response to record high inflation. The annual inflation adjustment for 2023 is 8.7%, compared to 5.9% for 2022, meaning the country's 70 million Social Security beneficiaries will see a monthly increase...

Annual 'Core' Inflation Sees Biggest Jump in 40 Years

6.6% over the past 12 months

(Newser) - Inflation in the United States accelerated in September, with the cost of housing and other necessities intensifying pressure on households, wiping out pay gains that many have received, and ensuring that the Federal Reserve will keep raising interest rates aggressively. Consumer prices rose 8.2% in September, compared with a...

Inflation Affects Walmart, Target Holiday Strategies

With prices going up, retailers expect shopping to start earlier

(Newser) - This fall, it won't just seem like the holiday shopping season is starting early. Walmart and Target on Thursday announced an earlier-than-normal launch as part of their holiday sales strategy. As CNN puts it, "Halloween is still a month away, but Walmart is ready for Christmas." Anticipating...

Social Security Checks Will Likely Get a Very Big Bump

Senior Citizens League now forecasts 8.7% cost-of-living adjustment

(Newser) - Update: When we last read the tea leaves in May, it was looking like seniors could be looking at an 8.6% adjustment to their monthly Social Security checks in 2023. The cost-of-living adjustment (COLA) happens in October, and with just one month to go, the predicted increase has ticked...

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