Biden touts cooling inflation, but prices are up sharply from 2021
Former President Reagan economist Art Laffer talks about inflation, recession concerns, and the impact of the election on the economy. President Biden hailed December's inflation report as a sign of progress in combating high prices. The data suggested the road back to normalcy could be bumpy. “We saw the prices of goods and services important […]
Republicans blast Biden as new CPI report reflects rising prices
U.S. Bureau of Labor Statistics releases new Consumer Price Index report This reflects the ongoing problem of rising prices that are straining Americans financially. “The consumer price index for urban consumers (CPI-U) rose a seasonally adjusted 0.3% in December, after rising 0.1% in November,” the BLS noted. “Over the past 12 months, the all-item index […]
New non-alcoholic White Claws roasted as rebranded seltzer water ‘for beer prices’
Hard seltzer company White Claw sparked a social media frenzy after launching a new 0% alcohol variety pack with a hefty price tag. The drinks come in four flavors: Black Cherry Cranberry, Mango Passion Fruit, Peach Orange Blossom, and Lime Yuzu, and are designed to replicate the taste of the original White Claw Hard Seltzer. […]
Consumer Prices Rose at a Faster Pace in December
Inflation was faster than in December, marking the 33rd consecutive month of annual price increases well above the Fed's healthy 2% target. The Consumer Price Index, the Labor Department's broad measure of how much consumers pay for goods and services, rose 3.4 points in December from a year earlier. Economists had expected a 3.2% increase […]
Consumer prices rose 3.4 percent in 2023 as inflation plunged
Consumer price growth accelerated slightly in December, capping a year of plunging inflation, according to data released Thursday by the Labor Department. The Consumer Price Index (CPI), which is closely watched as an indicator of inflation, rose by 0.3% in the final month of 2023 and by 3.4% over the past year. Although both the […]
December inflation report likely to show prices ticked higher last month
Kenny Porcari, chief market strategist at Slatestone Wealth, responded to Jamie Dimon's comment on “The Big Money Show” that high Fed interest rates could lead to a recession. A closely watched inflation report on Thursday is expected to show progress in combating price pressures in the economy slowed in December. Economists expect the consumer price […]
Soda taxes made sugary drink sales fall and prices rise in cities that tried them, study finds
Lensi denounces soda tax Sales of sugar-sweetened beverages fell by about a third in five U.S. cities after taxes on sugar-sweetened beverages began, according to a study released Friday. A study published in JAMA Health Forum found that cities' soda taxes pushed up the price of sugar-sweetened beverages (SSBs) and continued to reduce sales, just […]
Gas prices dip as holiday season ends: AAA
AAA says lower gas demand and increased supply are driving down prices at the pump. (iStock) If gasoline demand remains low, motorists will likely see lower prices at the pump over time. The average price of gasoline for the week ending January 4 fell to $3.09, down 3 cents from the previous week, according to […]
People sound off as Biden touts lower gas prices
People on social media criticized President Joe Biden for praising lower gas prices. “The average American driver is now spending more than $100 less than they would have if gas prices had remained at their highest.” Tweet declared from Biden's @POTUS account. Gasoline prices soared during Biden's tenure in the White House, but have since […]
People Don’t Feel Economic Accomplishments Due to High Prices, But It’ll ‘Slowly’ Get Better
On Wednesday's broadcast of CNN's “Inside Politics,” Biden 2024 campaign co-chairman Sen. Chris Coons (D-Delaware) spoke about stock market highs, insulin price caps, and insulin price cuts. “The average American is not feeling it,” he said. Inflation is rising, and “they're still paying too much at the grocery store. They're still paying too much for […]