Annual inflation rates increased last month.
The U.S. Bureau of Labor Statistics released its latest Consumer Price Index, a key marker of inflation, which showed that consumer prices rose 0.3% in November, part of a 2.7% increase over the last year.
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Americans’ real weekly earnings dropped sharply in April and still remain well below their level when President Joe Biden first took office, according to data from the Bureau of Labor Statistics (BLS).
Real average weekly earnings fell to $1,191.93 in April, declining by 0.4% in the month and 4.8% compared to the start of Biden’s term in January 2021, according to data calculated by the Daily Caller News Foundation from the BLS. Prices have risen over 19% since Biden first took office and 3.4% in the last year, degrading the value of Americans’ wages.
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Bernie Moreno, the Republican nominee in the Ohio U.S. Senate race, used Wednesday’s inflation report to call out his opponent, incumbent U.S. Senator Sherrod Brown (D-OH), and President Joe Biden for their economic policies that are “crushing Ohio workers.”
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Producer prices spiked last month, another sign of rising inflation in the U.S., according to new federal data.
The U.S. Bureau of Labor Statistics on Thursday released its monthly Producer Price Index, a leading marker of inflation, which showed an increase of 0.6% in February, more than expected.
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Newly released federal inflation data shows prices rose in December.
The Bureau of Economic Analysis released its Producer Consumption Expenditure, a key marker of inflation, which showed a 0.2% increase last month. That is an increase of 2.9% in the last year.
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The Houthi attacks against commercial vessels in the Red Sea are threatening to disrupt U.S. and global markets with delayed shipping times and increased good prices, The Washington Post reported.
The Yemen-based Houthis have launched several attacks since Oct. 7 against vessels in the Red Sea as part of retaliation efforts against Israel and its allies. In an effort to avoid the Houthis, commercial vessels are now taking longer routes to reach their destinations, resulting in delays and higher shipping costs, and ultimately increased prices for consumer goods in the U.S. and across the world, according to the Post.
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Inflation ticked slightly down year-over-year in November but continued to remain well above the Federal Reserve’s target, according to the latest Bureau of Labor Statistics (BLS) release on Tuesday.
The consumer price index (CPI), a broad measure of the prices of everyday goods, increased 3.1% on an annual basis in November, compared to 3.2% in October, according to the BLS. Core CPI, which excludes the volatile categories of energy and food, remained high, rising 4.0% year-over-year in October, compared to 4.0% in October.
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On the one-year anniversary of the ill-named Inflation Reduction Act, President Joe Biden paid a call on Milwaukee to sell his tax-and-spend policies that the White House likes to call “Bidenomics.”
But a lot of Badger State residents who have seen their earnings swallowed up by the inflation fueled in no small part by “Bidenomics” aren’t seeing the benefits the president is touting.
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Prices for electricity in the United States soared well above overall inflationary levels last year, putting an added squeeze on consumers already reeling from significantly inflated costs of most consumer goods.
The Consumer Price Index Summary released by the U.S. Bureau of Labor Statistics this month showed the 12-month average price of electricity last month jumping a whopping 14.3 percent, more than double the 6.5 percent of overall price increases.
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Food prices soared in 2022, and so far there are few solutions on the horizon for 2023.
The latest Consumer Price Index Data from the Bureau of Labor Statistics found that grocery prices increased 12% in the previous 12 months, far higher than the already elevated inflation rate.
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Business leaders in Pennsylvania don’t see inflation subsiding in the near future, according to a survey released this week by the Harrisburg-based Lincoln Institute for Public Opinion & Research.
A total of 212 businesses from across the Keystone State responded to the institute’s poll, with just over half of the respondents being business owners; 20 percent serving as either chief executive officer, head of finance or head of operations; and about a fifth serving as either state or local manager.
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Wholesale inflation exceeded economists’ expectations year-over-year in September, according to the Bureau of Labor Statistics’ (BLS) Producer Price Index (PPI), with core prices staying high despite efforts from the Federal Reserve to rein in inflation.
The index increased 0.4% for the month, while the Dow Jones had only estimated a 0.2% gain; prices rose 8.5% year-on-year for final demand goods and services, down from 8.7% in August but higher than expectations of an 8.4% increase, according to the BLS. Final demand prices not including food and energy, or “core” prices, rose 7.2% year-on-year in September.
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Inflation is an invisible tax that Tennesseans have to pay each and every day. Everywhere you look, inflation is wreaking havoc. At the gas station: gas is up 48 percent. At the grocery store: beef is up 20 percent, chicken is up 15 percent, butter is up 14 percent, fruits and vegetables are up 7 percent, and coffee is up 12 percent. At home: electricity is up 11 percent, furniture is up 15 percent, and rent is up 5 percent. What about a vacation? You still won’t be able to escape inflation as hotels are up 29 percent and flights are up 23 percent.
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Inflation continued its steady rise in April, when the Consumer Price Index increased 8.3% over last year, according to data released Wednesday by the U.S. Bureau of Labor Statistics.
For the month, the CPI rose 0.3%. That’s down from the 1.2% spike in March, but higher than analysts expected. The 8.3% increase over last year remains near 40-year highs, the bureau reported.
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The average home price in Williamson County has surpassed $1 million, according to data compiled by the Williamson County Association of Realtors.
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Many hospitals are not complying with laws requiring them to make their healthcare prices publicly available, according to multiple reports, and the Biden administration has so far refrained from issuing penalties.
The Hospital Price Transparency rule, which went into effect Jan. 1, 2021, is designed to promote competition in healthcare markets by requiring hospitals to post their prices, so that consumers can compare and shop between hospitals. The law mandates hospitals to post their pricing data “as a comprehensive machine-readable file with all items and services” as well as “in a display of shoppable services in a consumer-friendly format.”
However, according to recent reports, many hospitals have yet to comply with the rules a year after they have been in effect. An investigation by The Wall Street Journal last week found that many of the nation’s largest hospital chains were not complying with the new rules.
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Nashville real estate is selling in 12 days on average, according to The RE/MAX National Housing Report for November 2021. The rate, which is the fastest of any other metro area in the county, is twice as quick as the overall average rate in November which is 29 days.
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Under former President Donald J. Trump, for the first time in decades, the United States became a net exporter of natural gas and oil. That helped to keep global energy prices relatively low. It also gave the United States leverage over the international system in ways it had not enjoyed since before the 1970s.
Alas, the propagation of the novel coronavirus from Wuhan, China, along with the ceaseless lies of the Western “mainstream” media made such a prosperous and secure future under Trump an impossibility.
In the eight months since assuming office under a cloud of controversy, Joe Biden has done more to harm America’s inherent strategic advantages in the global energy market than any U.S. rival could have imagined. Under Biden, the United States has gone from being a net exporter of global energy to begging the Organization of Petroleum Exporting Countries (OPEC) to produce more oil for the world to consume.
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Independence Day 2020 was a lackluster affair for many, made all the sadder by attempts to celebrate July 4 amid pandemic-induced isolation without the parades, public firework shows and other communal and family gatherings that traditionally accompany the summer holiday.
The city of Miami and others staged “virtual fireworks displays” and at least 60 Florida communities made attempts to stage public events, including socially distanced parades, but with about 80% of traditional observations canceled, July 4, 2020, was nothing to celebrate.
Not so for July 4, 2021.
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Inflation is up 4.92 percent the past 12 months as of May, the most since July 2008’s 5.5 percent, according to data compiled by the Bureau of Labor Statistics, amid a torrent of trillions of dollars of government spending, Federal Reserve money printing and a weakening dollar combined with the continued economic rebound led by reopening businesses from the 2020 Covid lockdowns.
The past three months alone, inflation has grown at an accelerated rate of 2 percent combined. If that trend were to hold up for the rest of the year, inflation would come closer to 8 percent.
In the month of May, price jumps in fuel oil at 2.1 percent and piped gas service at 1.7 percent offset a 0.7 percent drop in gasoline prices. In addition, new car prices grew 1.6 percent. Used cars and trucks grew at 7.3 percent again after a 10 percent jump in April. Apparel jumped 1.2 percent. And transportation services grew 1.5 percent after a 2.9 percent jump in April.
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A record spike in fuel prices following the summer’s back-to-back hurricanes drove up a closely watched US inflation measure in September, but the underlying trend remained weak, government figures showed Monday. The new figures come as the Federal Reserve prepares to begin a two-day meeting on Tuesday, with policymakers widely expected to leave benchmark interest rates…
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