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The Federal Reserve's preferred inflation gauge heated up unexpectedly in January, as did consumer spending, showing the continued strength of the US economy — and that rising prices won't be so easily defeated.
Painfully high inflation is putting even more pressure on Americans struggling to repay their college loans.
Lower-income Americans and seniors are among those hit hardest by stubbornly high grocery prices.
In the wholesale market, egg prices hit a record peak in December and have been steadily falling since then. But so far, those declines haven't reached consumers, as seen in January's numbers.
Inflation rose at a 6.4% annual rate last month, driven by rising prices for housing and gasoline.
Americans watching Sunday's big game will spend less for meat and some other items for their Super Bowl parties this year.
Valentine's spending is expected to go up year-over-year as consumers expand their gift-giving to friends — and even pets.
The price of eggs is higher than they have ever been before. The higher cost is causing more people to buy their eggs from local sources.
With egg costs more than doubling in the past year, calls are coming for an investigation into possible price gouging.
"Disappointing U.S. data releases and hawkish Fed rhetoric are also adding to the risk-off mood," said one analyst.
Dow falls more than 600 points, while sharp drop wipes out S&P 500's gains from last week.
Inflation, reduced consumer spending and mounting competition has dented the retailer's growth.
Egg costs are soaring as Americans' eating habits change and as a deadly disease wipes out millions of birds.
Although U.S. inflation has cooled from its peak this summer, some food costs remain unusually high.
Prices reflected the smallest annual increase since October 2021 amid lower costs for gasoline and energy services.
California's latest budget accounts for a major deficit.
The job market remains strong — a good sign for workers but a blow to the Fed's efforts to cool inflation.
Almost 4 in 10 of consumers who went into debt expect it will take at least five months to pay off their bills.
Personal consumption expenditures increased at the lowest rate in over a year, showing the long run-up in prices is likely ending.
The minimum salary people want has risen to 8-year high, reflecting a hot job market and high cost of living, a survey says.
Seniors and other recipients are getting the biggest bump since 1981. But tax and Medicare issues may complicate things.
Extreme weather like droughts and flooding, in addition to produce and animal diseases, have squeezed supply and led to wild price swings across food items this year.
Rates are at their highest level in 15 years as policymakers try to tamp down inflation without torpedoing the economy.
Punishing inflation is forcing many people to economize this holiday season, while some are skipping gifts altogether.
Price increases are slowing but have a long way to go before hitting the Federal Reserve's 2% target.
