Inflation rose 8.6% in May, highest since 1981

Inflation accelerated further in May, with prices rising 8.6% from a year ago for the fastest increase since December 1981, the Bureau of Labor Statistics reported Friday.

Posted in Economy | Leave a comment

Gas prices climb 5 cents overnight, Americans are paying nearly $2 more from just one year ago

Gas prices are still on the rise and could soon reach $5 per gallon, a figure that has forced some Americans to rethink their leisure travel.

Posted in Economy | Leave a comment

Gas Prices Have Blown Past $7 a Gallon in Some States. When Will They Go Down?

The national average for a gallon of gas is $4.71 on Thursday, according to AAA, up more than 50 cents a gallon from just a month ago and $1.67 higher than this time last year.

Posted in Economy | Leave a comment

New budget numbers show US careening toward calamity

The Center for a Responsible Federal Budget, a respected nonpartisan group, reminded us yet again Tuesday that federal spending plans and debt levels are unsustainable. Lawmakers should get serious about debt reduction now — before it’s too late.

Posted in Economy | Leave a comment

New home sales plunge as high prices and rising U.S. mortgage rates discourage buyers

Sales of new homes in the U.S. fell in April for the fourth month in a row to the lowest level since the pandemic owing to high prices and soaring mortgage rates.

Posted in Economy | Leave a comment

CBS News poll: Americans feel uneasy as economic concerns grow

America’s mood is uneasy and worried. Amid continued inflation and stock market declines, large majorities describe their mood as such, and the percentage who call the economy bad has hit highs for the Biden presidency. 

Posted in Economy | Leave a comment