inflation

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New Inflation Numbers Signal an End to the Worst

Fed's favored inflation gauge remains low, signaling that it could cut interest rates in the fall

(Newser) - The Federal Reserve's favored inflation measure remained low last month, bolstering evidence that price pressures are steadily cooling and setting the stage for the Fed to begin cutting interest rates this fall. Prices rose just 0.1% from May to June, the Commerce Department said Friday, up from the...

US Economy's Q2 Provides 'a Perfect Report for the Fed'

GDP grew, but not too much, at 2.8%

(Newser) - The nation's economy accelerated last quarter at a strong 2.8% annual pace, with consumers and businesses helping drive growth despite the pressure of continually high interest rates, reports the AP . Thursday's report from the Commerce Department said the gross domestic product—the economy's total output of...

Inflation Cools More Than Expected
Inflation Cools
More Than Expected
Jul 11, 2024 8:09 AM CDT

Inflation Cools More Than Expected

Annual rate is now 3% after third straight monthly decline

(Newser) - The latest inflation numbers suggest that our years-long spike in prices is starting to truly ease—which could make the Fed more likely to cut interest rates.
  • Key stats: Consumer prices declined 0.1% from May to June, even though analysts had expected them to rise by the same percentage,
...

Farm Bureau Calculates Cost of 2024 July Fourth Cookout

This year, it's a record-high $71.22

(Newser) - The American Farm Bureau is out with its annual cost calculation of a Fourth of July cookout, and the 2024 figure is the highest one yet. The AFB looks at how much it would cost to feed a gathering of 10 people with the following: cheeseburgers, chicken breasts, pork chops,...

Got $7? Taco Bell Wants It
Got $7? Taco Bell Wants It
Jun 28, 2024 11:09 AM CDT

Got $7? Taco Bell Wants It

'Luxe Cravings Box' joins the value-meal wars aimed at inflation-weary consumers

(Newser) - If you've been finding it hard to grab a meal for under $10, even on the fast-food circuit, Taco Bell wants a piece of your wallet this summer. CBS News reports that the Mexican-themed chain has added a new $7 value meal to its menu: the Luxe Cravings Box,...

Starbucks Is Offering Cheaper Joe to Draw Customers Back

Enjoy the discounted prices, though some say other 'gripes' also need remedying

(Newser) - Grabbed a Starbucks iced latte or Pink Drink lately and noticed the price seemed unusually low? That's because the coffee giant is now trying to lure customers back after a tough year, including via discounts and other promotions, reports the Wall Street Journal . The move is an atypical one...

Inflation Finally Cools— Just in Time for Fed Decision

Markets are happy just hours before central bank decides on rates

(Newser) - Wednesday will be another big day on Wall Street, as investors await a decision by the Federal Reserve on interest rates. Some key factors at play:
  • Inflation eases: Hours before the decision, a new report showed that inflation slowed in May, reports the New York Times . The Consumer Price Index
...

McDonald's Pushes Back Against 'Viral Posts' on Prices

Company president says people have been telling whoppers about 100% Big Mac price hikes

(Newser) - The president of McDonald's USA is pushing back against what he calls "viral social posts and poorly sourced reports" about price rises. In an open letter , Joe Erlinger said reports of price rises "significantly beyond inflationary rates" have been greatly exaggerated, CNN reports.
  • "I can tell
...

Cuba, Once the Land of Sugar, Now Must Import It

Production has plummeted, and the decline may be permanent

(Newser) - "It's a disaster. Today the sugar industry in Cuba almost doesn't exist." Juan Triana of the Centre for Studies of the Cuban Economy didn't mince words when he spoke to the BBC about the status of the crop that was once at the center of...

Canadian Redditors Revolt Over Grocery Chain's Gouging

Reddit group Loblaws Is Out of Control does not want to pay $9 for butter, thank you very much

(Newser) - When you're pushing a cart through the grocery store, the effects of inflation can be seen down nearly every aisle. But a group of Redditors in Canada is calling foul on the country's biggest grocer, Loblaws, for continually raising prices in a way they suspect is padding the...

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
Dimon
Issues
Warning
About Markets
Apr 12, 2024 1:45 PM CDT

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
Apr 10, 2024 7:50 AM CDT

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
IN CASE YOU MISSED IT
Mar 30, 2024 4:27 PM CDT

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
...

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