Consumer News: 2021 U.S. economy grew at fastest pace since Reagan administration, latest SC rent report and more!

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COLUMBIA, SC (WOLO)– January’s rent report has been released for South Carolina, and it might be a light at the end of the pricey tunnel. The 2022 rental season kicked off with a 0.5% decrease in January, compared to a 0.2% increase nationally. Annual rent growth in Columbia now stands at 14.5%, after a year in which the pandemic drove prices up rapidly. In other parts of the country, annual rent growth exceeds 25%. Median rents in the Midlands now stand at roughly $1,100 for a one-bedroom apartment, and $1,300 for two-bedrooms.

WASHINGTON (AP)– The U.S. 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 growth since a 7.2% surge in 1984 after a previous recession. The economy ended the year by growing at an unexpectedly brisk 6.9% annual pace from October through December as businesses replenished their inventories, the Commerce Department reported Thursday.

ABC NEWS– ABC News is getting word that more items at the grocery store are about to get more expensive, up to 30% more expensive, just as the federal reserve makes a move to try to fight inflation. ABC’s Mona Kosar Abdi has the latest.

Categories: National News, News, State