Consumer News: Inflation hits new 40-year high, how to get the best deals on summer travel
Consumer News: Inflation hits new 40-year high, how to get the best deals on summer travel
inflation
President Biden speaks on inflation as Consumer Price Index rises higher that expected
It’s not just gas, the rising inflation in this country has Americans paying more for things like rent and food too. The Consumer Price Index is up more than 8%, which is worse than expected. President Joe Biden addressed rising costs earlier this afternoon.
US inflation hit a new 40-year high last month of 8.6%
By Christopher Rugaber (AP)
The prices of gas, food and most other goods and services jumped in May, raising inflation to a new four-decade high and giving American households no respite from rising costs.
Surge in fuel prices could impact elections in November
It’s not just in South Carolina where there seems to be no relief in sight for soaring prices at the pump. The national average for regular gas is now near $5 a gallon, and surging fuel prices are just one of the increased costs consumers are paying that are being driven by inflation.
White House trying to ease pain caused by inflation as Americans grow more frustrated
In addition to gas prices, national prices on food and housing are up. The White House is trying to turn things around, as Americans grow increasingly frustrated.
Consumer News: Rising inflation squeezing some American families
Consumer News: Rising inflation forcing some American families to make tough choices
President Biden announces plan to ease pain caused by inflation
The latest government report shows inflation has cooled off slightly, from a record 8.5% last month to 8.3%, meaning consumer prices are rising less rapidly. The news does not necessarily mean economic relief is coming soon for the average American.
US inflation hit 8.3% last month but slows from 40-year high
Associated Press (AP)
Consumer prices jumped 8.3% from 12 months earlier. That was below the 8.5% year-over-year surge in March, which was the highest rate since 1981.
Fed raises key rate by a half-point in bid to tame inflation
By Christopher Rugaber (AP)
The Federal Reserve intensified its drive to curb the worst inflation in 40 years by raising its benchmark short-term interest rate by a sizable half-percentage point.
Consumer News: Wage increases outpaced by growing inflation, how rising gas prices for truckers impact consumers and more
Consumer News: Wage increases outpaced by growing inflation, how rising gas prices for truckers impact consumers and more.
