inflation

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Bounce Back for US Economy in 2021 Was a Major One

Nation's GDP saw strongest calendar-year growth since the Reagan years

(Newser) - The US economy grew last year at the fastest pace since Ronald Reagan's presidency, bouncing back with resilience from 2020's brief but devastating coronavirus recession. The nation's gross domestic product—its total output of goods and services—expanded 5.7% in 2021. It was the strongest calendar-year...

Fed Signals It Will Raise Rates as Soon as March

It will phase out its monthly bond purchases as well

(Newser) - The Federal Reserve signaled Wednesday that it plans to begin raising its benchmark interest rate as soon as March, a key step in reversing its pandemic-era low-rate policies that have fueled hiring and growth but also escalated inflation. With high inflation squeezing consumers and businesses and unemployment falling steadily, the...

Inflation Rate Is the Highest It's Been Since 1982

Consumer prices were up 7% in December from a year earlier

(Newser) - Prices paid by US consumers jumped 7% in December from a year earlier, the highest inflation rate since 1982 and the latest evidence that rising costs for food, gas, rent, and other necessities are heightening the financial pressures on America's households, reports the AP . The Wall Street Journal reports...

Fed Chief: We'll Get More Aggressive on Inflation

Jerome Powell tells Congress they'll raise interest rates more if need be

(Newser) - Federal Reserve Chair Jerome Powell acknowledged Tuesday that high inflation has emerged as a serious threat to the Fed's goal of helping put more Americans back to work and that the Fed will raise rates more than it now plans if needed to stem surging prices. "If we...

Used Car Prices Keep Getting More Shocking

'What used to be a $5K car is now $8K. What used to be $8K is now $11K or $12K'

(Newser) - A couple of months ago, a woman paid a visit to Jeff Schrier's used car lot in Omaha, Nebraska. She was on a tight budget, she said, and was desperate for a vehicle to commute to work. She was shown three cars priced at her limit, roughly $7,500....

Your 2022 Grocery Bill Isn't Looking Pretty

Prices of just about everything expected to keep rising

(Newser) - Red-hot inflation has been showing up in tangible form in everyone's grocery bills throughout 2021. Is there relief on the horizon in the new year? Not so much. The Wall Street Journal surveyed several major food manufacturers and finds that prices for just about everything will keep rising....

Latest Inflation Report Drags Markets Down
Stocks Drop After
Latest Inflation Report
MARKETS
Dec 14, 2021 3:53 PM CST

Stocks Drop After Latest Inflation Report

In November, wholesale prices jumped a record 9.6% year-on-year

(Newser) - Stocks closed lower on Wall Street Tuesday as traders took in the latest sign that inflation is still running high ahead of the Federal Reserve’s last meeting of the year. The latest report on inflation showed that wholesale prices jumped a record 9.6% in November from a year...

Inflation Reaches 'Frighteningly High' Level

CPI hits annual rate of 6.8% in November, highest in 39 years

(Newser) - Last month's inflation report showed it was the worst in three decades. This month's? The worst in four decades, reports the Wall Street Journal . The Labor Department said Friday that the Consumer Price Index—which this year may have surpassed the monthly jobs report in significance—hit an...

10th of Every Month Is Now a Huge Political Day
10th of Every Month
Is Now a Huge Political Day
the rundown
Dec 9, 2021 12:05 PM CST

10th of Every Month Is Now a Huge Political Day

All eyes are on the once-boring monthly inflation report

(Newser) - The first Friday of each month used to be the big day in terms of financial data, because that's when the new unemployment figures are released. As Axios reports, that has changed this year. The new big day: the 10th of every month, when the consumer price index comes...

Holiday Shoppers May Not Like Goldman Sachs' Forecast

Inflation expected to get worse through the winter before settling down next year

(Newser) - Goldman Sachs is out with its economic forecast for the coming year, and it may not please people hoping for a quick end to surging prices before the holiday shopping season. Highlights:
  • Inflation: "The current inflation surge will get worse this winter before it gets better," says the
...

White House Ditches Its Favorite Word About Inflation


White House
Ditches Its
Favorite Word
About Inflation
the rundown
Nov 11, 2021 10:40 AM CST

White House Ditches Its Favorite Word About Inflation

Biden and officials no longer downplaying rise in prices as 'transitory'

(Newser) - For months, the White House downplayed concerns about inflation by describing the steep rise in prices as "transitory"—just a temporary blip related to the pandemic recovery. But as Kevin Liptak writes in a CNN analysis, President Biden didn't use the term Wednesday when discussing the news...

Inflation Report Roils Bond Markets
Inflation Report
Hits Markets Hard
MARKETS
Nov 10, 2021 3:39 PM CST

Inflation Report Hits Markets Hard

Dow dropped 240 points

(Newser) - An eye-opening report on inflation that was hotter than expected slammed into the bond market on Wednesday, sending yields jumping, and helping knock stocks lower, the AP reports. The sharpest inflation since 1990 forced investors to boost bets that the Federal Reserve will have to raise short-term interest rates more...

Uncomfortable News: Inflation Hit a 30-Year High in October

It rose at a 6.2% annual rate

(Newser) - Prices for US consumers jumped 6.2% in October compared with a year earlier as surging costs for food, gas, and housing left Americans grappling with the highest inflation rate since 1990. The year-over-year increase in the consumer price index exceeded the 5.4% rise in September, the Labor Department...

Got Milk Controversy? CNN Does
Got Milk Controversy?
CNN Does
THE RUNDOWN
Nov 5, 2021 12:09 PM CDT

Got Milk Controversy? CNN Does

A Texas family's milk consumption was featured in a news segment on inflation; backlash followed

(Newser) - The US economy continues to be a hot topic, especially as we head toward another winter still wrangling with COVID, and a CNN report this week tried to get to the heart of "how badly inflation is hitting the middle class." The five-minute segment intro'd by commentator...

Fed Now Expects Inflation to Linger

Central bank is going to start dialing back economic aid

(Newser) - The Federal Reserve will begin dialing back the extraordinary economic aid it's provided since the pandemic erupted last year, a response to high inflation that now looks likely to persist longer than it did just a few months ago . In a statement Wednesday after its latest policy meeting, the...

With Some Attractions Closed, Disneyland Raises Prices

Park stands to make money even if attendance briefly dips

(Newser) - If you want to go to the happiest place on Earth, be prepared to spend a lot of money. And no, we aren’t talking about Finland . Disneyland introduced tiered pricing, raising the cost of a ticket on high-demand days, in 2016. And it raised prices on all five tiers...

This Might Be the Most Expensive Thanksgiving Ever

Supply issues, labor shortages are driving up prices of many ingredients

(Newser) - The American Farm Bureau says the average cost of preparing a Thanksgiving dinner fell to its lowest level in a decade last year—but 2021 is a very different story. Price hikes on numerous items for a variety of reasons are set to make this year's Thanksgiving feast the...

Big COLA Announcement Expected Early Wednesday

Increase could be biggest in decades

(Newser) - Rising inflation is expected to lead to a sizeable increase in Social Security's annual cost-of-living adjustment, or COLA, for 2022. Exactly how much will be revealed Wednesday morning after a Labor Department report on inflation during September, a data point used in the final calculation. Over the last 10...

Stocks Slip as Investors Await Inflation Data
Stocks Slip as Investors
Await Inflation Data
MARKETS
Oct 12, 2021 3:46 PM CDT

Stocks Slip as Investors Await Inflation Data

Labor Department releases 2 big updates this week

(Newser) - Stocks ended an up-and-down day mostly lower on Wall Street as traders wait for more data on inflation and corporate earnings this week. The S&P 500, the Dow Jones Industrial Average, and the Nasdaq fell. Small-company stocks ended higher. A mix of retailers and other companies that rely on...

Inflation Forces Dollar Tree to 'Break the Buck'

Some items will now be $1.25 or $1.50

(Newser) - While the company isn't planning to change its name to "$1.50 Tree," Dollar Tree has heeded calls from investors to "break the buck" and raise prices for some items. Since its founding in 1986, when $1 was the equivalent of around $2.50 today, the...

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