WASHINGTON — Inflation slowed in April after seven months of relentless gains, a tentative sign that price increases may be peaking while still imposing a financial strain on American households. Consumer prices jumped 8.3% last month from 12 months earlier, the Labor Department said Wednesday. That was below the 8.5% year-over-year surge in March, which […]
New York CNN Business — In another blow to the US economy, prices at the pump soared to fresh record highs. The national average price for regular gasoline climbed more than four cents on Tuesday to $4.37 a gallon, according to AAA. That takes out the previous record of $4.33 set on March 11. The […]
Fresh vegetable prices rose by 24% year-on-year in April as consumers stocked up to prepare for potential stay-home orders. Pictured here is a delivery driver for Alibaba’s Hema Fresh supermarket in Beijing on May 10, 2022. Jade Gao | Afp | Getty Images BEIJING — China’s consumer and producer prices rose more than expected in […]
President Biden said Tuesday that soaring inflation was “a real tough problem to solve” and warned it could get worse before it gets better — while offering no new ideas to stem rising prices. “It’s really complicated. I’m not suggesting American people can’t understand it. They understand it, but they have, you know, they’re working […]
By Keely Arthur, WRAL consumer reporter A study released earlier this month by the North Carolina Budget and Tax Center found the family of two adults and two children in Wake County needs to bring in $81,850 per year to meet the living income standard. The report details how much residents in every North Carolina […]
Shoppers inside a grocery store in San Francisco, California, US, on Monday, May 2, 2022. David Paul Morris | Bloomberg | Getty Images April’s consumer price index report is expected to show inflation has already reached a peak — a development that some investors say could temporarily soothe markets. But economists say, even with a […]
President Joe Biden said he could drop some of the tariffs imposed against Chinese imports to help control rising consumer prices in the US — just as Wall Street braces for another inflation report north of 8%. The White House is reviewing the penalties imposed under former President Donald Trump — which raised prices on […]
Christopher Waller, US President Donald Trump’s nominee for governor of the Federal Reserve, speaks during a Senate Banking Committee confirmation hearing in Washington, DC, US, on Thursday, Feb. 13, 2020. Andrew Harrer | Bloomberg | Getty Images Federal Reserve Governor Christopher Waller pledged Tuesday that the rate-setting group wouldn’t make the same mistakes on inflation […]
If you’ve turned on a TV, listened to the radio, or surfed internet news sites recently you’ve almost certainly heard that there is a crisis, and a panic, about inflation. You’ve been told it’s the reason the Federal Reserve is jacking up interest rates. It’s the reason the stock market has been plunging. It’s a […]