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Where are prices still rising the fastest? At the kitchen table, for starters.
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Fox News, National

Where are prices still rising the fastest? At the kitchen table, for starters.

By Megan Henney | Fox Business Inflation eased again in July, even as an uptick in the cost of rent, groceries and auto insurance kept prices uncomfortably high for millions of Americans. Inflation eased again in July, even as an uptick in the cost of rent, groceries and auto insurance kept prices uncomfortably high for millions of Americans. The Labor Department on Wednesday said that the consumer price index (CPI), a broad measure of how much everyday goods like gasoline, groceries and rent cost, rose 0.2% in July from the previous month, in line with expectations. Prices climbed 2.9% from the same time last year. It marked the lowest level of inflation since March 2021. READ THE FULL STORY AT FOX BUSINESS
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Meet Colorado’s 12 billionaires, not all of which are continuing to build wealth
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State, Westword

Meet Colorado’s 12 billionaires, not all of which are continuing to build wealth

By Michael Roberts | Westword In these United States, the rich almost always get richer. But several of Colorado's 12 billionaires have proven to be an exception to this rule. According to Forbes's recently published list of global billionaires, some of the state's richest people have seen their wealth shrink in the 2020s, including one entrepreneur whose current net worth is around one-fifth the size it was just three years ago. The overall trend definitely isn't toward shrinkage. Forbes points out that as of late April, the planet boasted 2,781 billionaires, 26 more than the previous record, set in 2021. Moreover, the portfolios of these individuals are collectively valued at around $14.2 trillion, approximately $1.1 trillion higher than 2021's standard-setti...
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Bond markets sound inflation alarm, testing record run for U.S. stocks
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National, The Street

Bond markets sound inflation alarm, testing record run for U.S. stocks

By Martin Baccardax | The Street Global stocks turned lower this week as investors hit pause on an impressive spring rally amid new warning signals from the bond market that suggest inflation pressure could remain elevated well into the summer months.  The S&P 500 has printed no fewer than 24 record highs this year, and has powered to a five-month gain of around 11.25%, on the strength of improving corporate earnings, a resilient economy and outsized gains in the tech sector tied to the surge in artificial-intelligence investments.  On the fixed-income side, however, things have been notably dour, with global government bond portfolios down 4.9% for the year, according to data from Bank of America's 'Flow Show' report. Bond investors are typica...
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Antoni: Biden’s indifference to Americans’ plight of soaring food prices is appalling
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Commentary, The Daily Signal

Antoni: Biden’s indifference to Americans’ plight of soaring food prices is appalling

By EJ Antoni  | The Daily Signal If you’re having trouble affording groceries, don’t expect sympathy from the White House. In a recent interview, President Joe Biden was told that food prices are up more than 30% on his watch. But he casually dismissed this fact, claiming people have money to pay those elevated prices. This doesn’t just demonstrate Biden’s tone-deafness to the plight of Americans who struggle to afford necessities like groceries; it shows his ignorance of his own administration’s data. According to the Bureau of Labor Statistics, average weekly paychecks have increased about $150 under Biden, or 14.1% in roughly three years. Normally, that would be cause for celebration, but not in the inflationary environment of “Bidenomics.” READ THE FU...
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Biden releasing 1 million barrels of gasoline from Northeast reserve in bid to lower prices at pump
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National, The Washington Times

Biden releasing 1 million barrels of gasoline from Northeast reserve in bid to lower prices at pump

By Matthew Daly  | The Washington Times The Biden administration said Tuesday that it is releasing 1 million barrels of gasoline from a Northeast reserve established after Superstorm Sandy in a bid to lower prices at the pump this summer. The sale, from storage sites in New Jersey and Maine, will be allocated in increments of 100,000 barrels at a time. The approach will create a competitive bidding process that ensures gasoline can flow into local retailers ahead of the July 4 holiday and sold at competitive prices, the Energy Department said. The move is intended to help “lower costs for American families and consumers,″ the department said in a statement. Gas prices average about $3.60 per gallon nationwide as of Tuesday, up 6 cents from a year ago, according to AAA. T...
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February inflation report a setback for Fed rate cut plans; prices up 3.2%
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National, The Washington Post

February inflation report a setback for Fed rate cut plans; prices up 3.2%

By Rachel Siegel | The Washington Post The Federal Reserve is looking for steady, reliable signs that inflation is simmering down before it cuts interest rates this year. So far, 2024 has not delivered. Data released by the Bureau of Labor Statistics on Tuesday showed prices rose 3.2 percent over last year, slightly outpacing forecasts of 3.1 percent. Prices also rose 0.4 percent in February over the previous month — in line with expectations, but still hotter than economists would like to see. Those top-line figures represent just a snippet of a bigger economic story. But they also added a dose of uncertainty about whether the Fed’s inflation fight is getting tougher after 2023’s remarkable progress. Markets dipped slightly into the red shortly after Tuesday’s open, before postin...
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