The window for interest rate cuts may be closing. On the eve of the Federal Reserve’s two-day policy meeting, Wall Street forecaster Jim Bianco believes the central bank will likely stay on hold until next year. “I’m in the camp that the Fed does not change policy in the summer of an election year,” the … Read more
Pixelseffect | E+ | Getty Images Some grocery store products are providing less for your money. And everyone from President Joe Biden to Cookie Monster has noticed. Blame shrinkflation. The term — which is increasingly used in conversation — refers to products becoming smaller in size, weight or quantity as their prices stay the same … Read more
A customer shops for food at a grocery store in San Rafael, California, March 12, 2024. Justin Sullivan | Getty Images News | Getty Images The U.S. is still grappling with higher inflation, government data released this week shows. But there are some bright spots for consumers. Inflation is lower than its 2022 peak. And … Read more
This combination of pictures created on February 17, 2024, shows U.S. President Joe Biden waving from the South Lawn of the White House in Washington, D.C., on June 1, 2023, and former President Donald Trump waving to the media outside the White House on Jan. 12, 2021. Jim Watson | Brendan Smialowski | AFP | … Read more
Shoppers are seen in a Kroger supermarket in Atlanta on Oct. 14, 2022. Elijah Nouvelage | AFP | Getty Images Consumers continued to contend with higher inflation in February, according to new government data. The consumer price index — an inflation measure that tracks changes in the prices of consumer goods and services over time … Read more
President Joe Biden speaks during an event about lowering costs for American families at the Granite State YMCA Allard Center of Goffstown on March 11, 2024 in Goffstown, New Hampshire. Sophie Park | Getty Images News | Getty Images President Joe Biden is starting to win the inflation blame game against corporations. A recent Financial … Read more
Inflation rose again in February, keeping the Federal Reserve on course to wait at least until the summer before starting to lower interest rates. The consumer price index, a broad measure of goods and services costs, increased 0.4% for the month and 3.2% from a year ago, the Labor Department’s Bureau of Labor Statistics reported … Read more
IKEA lowers prices on items worldwide. Nurphoto | Nurphoto | Getty Images Swedish home and furniture company Ikea has been cutting prices across a number of countries as global inflation eased, as it boosts its investments in price reductions. The company is further expanding its price cuts in 2024 across all of its markets globally, … Read more
Shoppers are seen in a Kroger supermarket in Atlanta on Oct. 14, 2022. Elijah Nouvelage | AFP | Getty Images Rising gasoline prices likely put a floor under inflation in February, potentially reinforcing the Federal Reserve’s decision to take a go-slow approach with interest rate reductions. Economists expect that prices across a broad spectrum of … Read more
California is home to some of the highest gas prices in the United States, according to AAA. The national average for a gallon of regular unleaded was $3.40 as of Thursday, according to the organization’s data. In California, the average was $4.87, more than any other state. Several factors go into what drivers pay for … Read more
