U.S. inflation soared to a 40-year high last month as geopolitical tensions drove up energy prices and supply chain hurdles compounded price pressures driven by consumer demand. The Consumer Price Index rose 8.5% in March from a year earlier, overshooting the Dow Jones economists’ prediction that consumer prices would rise […]
Other News
Five things to watch for in March’s durable goods report
The US Commerce Department will publish its March durable goods advanced report Tuesday at 8:30 a.m. EST. Economists are spread wide on what they expect to see since February’s report was the first significant decline in more than a year. Here’s what to watch for: Slow growth and possible recession […]
Five Things To Know For Tuesday’s Case-Shiller Housing Index Report
S&P CoreLogic will release the monthly Case-Shiller Home Price Indices on Tuesday, which track changes in housing prices across the nation. Economists surveyed by Bloomberg anticipate a 1.5 percent month-over-month increase and 19.20 percent year-over-year increase – slightly up from the prior month – for the 20-city composite. Here’s what […]
Rising Food and Energy Prices Push Inflation to 8.5% but Less Volatile Prices Show Signs of Moderating
Inflation accelerated in March as energy prices soared, evidence that Russia’s invasion of Ukraine and Western sanctions added fuel to the fire that’s burning American consumers. The Consumer Price Index (CPI) rose 8.5% in the 12 months through March, the largest 12-month increase since 1981, the Bureau of Labor Statistics […]
Five Things to Watch in the March Retail Sales Report
The Census Bureau will release the advance monthly retail sales report for March on Thursday. Retail sales are projected to rise 0.6 percent, according to a survey of Bloomberg analysts, indicating that inflation and higher prices will primarily fuel rising sales. Here are five things to watch out for in […]
U.S. Farmers Race Against Food Spoilage As Shipments Stall
By the time the cargo ship made it to India last summer, the container of apples from the U.S. had started to rot. The overseas trip had taken more than two months, about double the amount of time expected in past years. After an inspection at the port, the Indian […]
U.S. Trade Deficit Remains Near Record High In February
The U.S. trade deficit held near its record high in February, just before the Russian invasion of the Ukraine pushed the prices of commodity exports and imports dramatically higher. The trade deficit in goods and services narrowed by 0.1% to a seasonally adjusted $89.19 billion, according to data released by […]
Rising Inflation Squeezes Low Income Workers
In early March, Mayte Molina, 34, did a double-take at her higher-than-normal supermarket bill. Quickly adding how it would offset her weekly budget, she put a handful of her usual items back. Since then, Molina’s daily shopping run has turned into every three to four days to stretch out her […]
High Gas Prices Force Gig Workers to Reconsider
When Veronica Gutierrez lost her warehouse job at the onset of the pandemic, she worried about making ends meet to provide for her eight children in Riverside, CA. Doing deliveries for Uber Eats and DoorDash made sense because of the flexibility it provided – she could pause work at a […]
March Jobs Report Expected To Show Another Month of Robust Hiring
Hiring is likely to have remained robust in March, showing the economy continues to improve at a time when concerns about the Russia-Ukraine war and high inflation have muddled the outlook. Economists surveyed by Bloomberg estimate that the Labor Department report will show employers added 423,000 nonfarm payrolls this month, […]
