Hooters abruptly shuts dozens of ‘underperforming stores’ as inflation hammers diners
Hooters has suddenly closed dozens of “underperforming locations,” becoming the latest chain to shutter restaurants as inflation takes a toll on American consumers. The popular chicken wing brand, known for its skimpy uniforms, cited “pressures from the current market environment” as the reason for its decision to close an unspecified number of stores. “Like many […]
Left and Right: Both Mistaken on Inflation
Estimated Reading Time: 3 minutes With inflation hitting a 31-year high, commentators are now routinely giving their opinions on inflation. Unfortunately, most of them—on both the left and the right—are mistaken. The left initially claimed there was no inflation before switching to its oft-repeated line that inflation is transitory, meaning not long-lasting. But inflation has […]
Money and Inflation Are Still Related
Estimated Reading Time: 4 minutes There is perhaps no empirical regularity among economic phenomena that is based on so much evidence, for so wide a range of circumstances,” Milton Friedman observed in 1989, “as the connection between substantial changes in the quantity of money and in the level of prices.” And yet, despite the wide […]
Trump hits Bidenomics inflation with mini Tic-Tac prop
Former President Donald Trump hit President Joe Biden‘s economic policy failures by explaining inflation seen under the Biden administration with a miniature Tit-Tac container. Trump was speaking at the Faith and Freedom Conference on Saturday when he pulled out the miniature prop and compared it to a normal-sized Tic-Tac container as a joke to display […]
Olive Garden parent CEO says fast food inflation driving customers to sit-down franchises
CABIA President Tom Manzo appeared on “Fox & Friends” to discuss how the minimum wage increase is affecting the fast-food industry at a time when thousands of people are out of work. Darden Restaurants CEO Rick Cardenas said fast-food chains’ sit-down restaurant prices are driving some customers to avoid drive-thrus in favor of a true […]
Japanese yen stays in focus as inflation data slows further in May – ForexLive
It was bound to be a race against time for the Bank of Japan in the first half of the year, and today’s inflation data reaffirms that view, with prices creeping ever closer to the crucial 2% mark. Where is the inflation? Japan Consumer Price Index (excluding fresh food and energy) Year-on-year change (%) The […]
Olive Garden hiking prices despite losing customers to inflation
Olive Garden said it plans to continue raising menu prices, even as executives acknowledged that sales fell in the most recent quarter as inflation kept customers away from restaurants. Olive Garden’s same-store sales – a closely watched industry metric that measures sales at restaurants open at least a year – fell 1.5% in the quarter […]
Trump win, GOP sweep would fuel inflation: Moody's Analytics
A recent report from Moody’s Analytics found that inflation could accelerate again if former President Trump wins the White House and Republicans take control of Congress. In a so-called Republican sweep scenario, which forecasters give a 35% chance of success, consumer price inflation would accelerate from 3% in 2024 to 3.6% in 2025, according to […]
Inflation expected to outpace salaries for a few more years: Research
A new survey shows that inflation is likely to continue to outpace most salaries in the coming years. The analysis Money wiseThe report, released earlier this month, looked at data from the Bureau of Labor Statistics (BLS), the Federal Housing Agency (FIA) and Redfin to determine how salaries have kept up with inflation over the […]
Nearly half of Americans struggling because of inflation spike: poll
(The Center Square) – Nearly half of Americans report that the recent spike in inflation has made it harder to get by, according to a new poll. According to a Monmouth University poll released Wednesday, 46% of Americans are “currently struggling to make ends meet financially.” The figure is the highest recorded by the pollster […]