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Inflation rose to 3% in November in producer price index, surprisingly hot
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National, Washington Examiner

Inflation rose to 3% in November in producer price index, surprisingly hot

By Zach Halaschak | Washington Examiner Inflation, as measured by the producer price index, rose four-tenths of a percentage point to 3% for the year ending in November, the Bureau of Labor Statistics reported Thursday. The hot inflation rate is more than economists had anticipated and adds to recent signs that price pressures have not yet abated as President-elect Trump prepares to take office. In fact, November marked the largest rise in PPI inflation since February 2023. On a month-to-month basis, the producer price index increased by 0.4%. READ THE FULL STORY AT THE WASHINGTON EXAMINER
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Mortgage rates higher for third straight week, with 30-year at 6.44%, market survey finds
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Fox Business, National

Mortgage rates higher for third straight week, with 30-year at 6.44%, market survey finds

By Breck Dumas  | Fox Business Mortgage rates continued their upward climb this week, further hindering demand in the housing market amid elevated rates and high home prices. Freddie Mac's latest Primary Mortgage Market Survey, released Thursday, showed that the average rate on the benchmark 30-year fixed mortgage surged to 6.44% from last week's reading of 6.32%. The average rate on a 30-year loan was 7.63% a year ago. "The 30-year fixed-rate mortgage increased for the third consecutive week, moving closer to 6.5%," said Sam Khater, Freddie Mac’s chief economist.  READ THE FULL STORY AT FOX BUSINESS
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St. Onge: Inflation rising is awkward for Chairman Powell, nightmare for Kamala Harris
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Commentary, National, The Daily Signal

St. Onge: Inflation rising is awkward for Chairman Powell, nightmare for Kamala Harris

By Peter St. Onge, Commentary | Daily Signal Inflation is rising again, and even Federal Reserve cheerleader Bloomberg is worried the Fed is losing the plot. Inflation rising is awkward for the Fed, given Chairman Jerome Powell already cut rates for the looming recession. In fact, he just did a jumbo half-point cut—which makes inflation go up. This is known as a policy error. And the Fed’s been making a lot these days. READ THE FULL STORY AT THE DAILY SIGNAL Editor’s note: Opinions expressed in commentary pieces are those of the author and do not necessarily reflect the opinions of the management of the Rocky Mountain Voice, but even so we support the constitutional right of the author to express those opinions.
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As inflation rears its ugly head again, election-meddling media go to bat for Biden-Harris
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National, The Federalist

As inflation rears its ugly head again, election-meddling media go to bat for Biden-Harris

Harris is proud of her economic track record, even though it has forced the price hikes Americans strongly oppose By Jordan Boyd | The Federalist Less than one month before Election Day, the U.S. Bureau of Labor Statistics’ published data confirms that the consequences of Democrats’ disastrous economic policies have continued to plague Americans. Democrats and their corporate media and economic “expert” allies preemptively claimed inflation would “return to normal” just in time for the 2024 face-off. Shortly after the July 2024 consumer price index was released, former Deputy Director of the National Economic Council Bharat Ramamurti even went so far as to declare that “We’ve won the battle against inflation.” READ THE FULL STORY AT THE F...
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Tim Walz stumped by question on inflation; repeats lie about Trump ‘sales tax’
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Breitbart, National

Tim Walz stumped by question on inflation; repeats lie about Trump ‘sales tax’

By Joel B. Pollak | Breitbart Minnesota Gov. Tim Walz, the Democratic nominee for vice president, was stumped Tuesday when asked by a reporter to explain what he and Vice President Kamala Harris would do for families struggling financially. In an interview with local Macon, Georgia, CBS affiliate WMAZ, Walz first said that he and Harris understood the problem because they are “middle class.” He then offered a series of her proposals unrelated to inflation: I tell them Kamala Harris and I know something about it being middle-class folks. Our family sit at the table trying to pay the bill. We know coming out of the COVID pandemic with prices where they were, that people need to see some relief. And I think that’s why Kamala Harris has put out a plan — especially around home ow...
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Inflation has some military families ‘grasping at pennies’
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Military Times, National

Inflation has some military families ‘grasping at pennies’

By Karen Jowers | Military Times Inflation is “destroying any joy we may have been able to afford,” the airman wrote. “We are literally grasping at pennies to survive and it’s killing us.” Statements from the airman — stationed at Holloman Air Force Base, New Mexico — and many others came in response to Military Times’ call for comments on how inflation has impacted service members and their families. Most responded with a common theme: Families are “cutting back” or “eliminating” everything from grocery shopping and driving to subscription services, vacations and eating out. Consumer prices were up by 3% from June 2023 to June 2024, according to the Bureau of Labor Statistics. That’s on top of inflation over the previous several years. READ MORE AT THE MILITARY TIMES...
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Wall St up as rate-cut hopes hold firm after inflation data
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Colorado Springs Gazette, National

Wall St up as rate-cut hopes hold firm after inflation data

By Johann M Cherian and Purvi Agarwal | Colorado Springs Gazette Wall Street's main indexes rose on Friday and were set for monthly gains after a key inflation report reiterated moderating price pressures, cementing bets for an interest-rate cut at the U.S. Federal Reserve's upcoming meeting in September. The Personal Consumption Expenditure index, the central bank's preferred inflation gauge, rose 2.5% in July on an annual basis compared to an estimate of 2.6%, according to economists polled by Reuters. On a monthly basis, it rose 0.2% as expected. Among rate-sensitive megacaps, Amazon.com and Microsoft gained 1.3% and 0.7%, respectively. Chip stocks rose; Broadcom added 3.4% and Advanced Micro Devices climbed 1.4%, aiding the Philadelphia SE Semiconductor index's 2.2% rise. ...
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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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Trump promised to end ‘inflation nightmare’ in RNC speech. Here’s his plan.
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Fox Business, National

Trump promised to end ‘inflation nightmare’ in RNC speech. Here’s his plan.

By Megan Henney | Fox Business Former President Donald Trump vowed to end the ongoing inflation crisis during his keynote speech at the Republican National Convention, promising that he would work to bring high prices down if he wins the November election. "We’ve had the worst inflation we’ve ever had under this person," Trump said in the Thursday night speech, referring to President Biden. "Inflation has been a killer for our country. No matter what you’re making, it doesn’t matter because inflation is eating you alive." The Republican nominee laid out several proposals that he said would reduce inflation or provide relief from steep prices, including eliminating taxes on tips, raising tariffs on other countries and drilling for more oil in the U.S. Although inflatio...
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More retirees consider return to work in response to high inflation squeeze
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Fox Business, National

More retirees consider return to work in response to high inflation squeeze

By  Megan Henney | Fox Business A growing number of retired Americans are considering returning to work as they continue to battle chronic inflation, according to a new survey published by the Motley Fool. About 44% of respondents said they are thinking about looking for work because their Social Security benefits have not adequately kept pace with high inflation. While Social Security recipients received a 3.2% cost-of-living adjustment in 2024, retirees say they are still struggling financially, the survey findings show. That is largely because the actual rate of inflation exceeded this year's 3.2% cost-of-living bump in March, April and May. READ THE FULL STORY AT FOX BUSINESS
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