Putting food on the kitchen table has become much more expensive, squeezing household budgets at a time when many families are already stressed by the Delta variant surge hitting as kids go back to school. Food prices rose a full
Prices charged by U.S. businesses jumped higher in August, data from the Department of Labor said Friday.
Shortages of workers and key inputs are slowing everything from retail to manufacturing while prices keep rising.
Compared with a year ago, real average hourly wages are down 1.2 percent.
A “record share” of U.S. small businesses had unfilled positions in August, Bloomberg News reported on Thursday.
Real hourly compensation fell at an annualized rate of 4.6 percent in the first quarter.
Views of current conditions and the near-term future grew much dimmer in August.
Consumer sentiment collapsed due to the surging Delta variant, higher inflation, slower wage growth, and smaller declines in unemployment.
Bidenflation spreading in the lastest manufacturing survey from the Kansas City Fed.
Spending on electronics and appliances fell in July while business investment increased.
The U.S. is building new homes at a faster pace than expected but it is not building many inexpensive homes that could be purchased by first-time buyers or Americans with modest incomes.
Manufacturing activity slowed in August but the gauge of prices for goods rose to a new record high.
Sales of previously owned homes worth more than one million dollars were up nearly 60 percent annually in July, while sales of homes worth a quarter of that or less were down by around 30 percent, data from the National Association of Realtors showed Monday.
The road to recovery looks like it will be bumpier than expected.
The latest survey suggests that a slowdown in growth has not slowed down price increases.
Housing starts dropped by far more than expected as shortages and rising costs hit builders.
Wisconsin voters have soured on the economy and thing things are going to get worse over the next year. Inflation is a big worry.
“Higher construction costs and supply shortages along with rising home prices pushed builder confidence to its lowest reading since July 2020,” the NAHB said.
The Saudis, Russians, and other members of the oil cartel have rejected President Joe Biden’s request that they produce more oil to lower U.S. gasoline prices.
Record setting price increases did not spur an acceleraton of manufacturing activity in August, a survey from the New York Fed showed Monday.
The confidence of Americans in the economy suffered an unexpected severe collapse in the first weeks of August. The University of Michigan’s Consumer Sentiment index fell to 70.2 from the end of July score of 81.2, the lowest score since
Instead of cooling off, producer inflation came in even hotter in July.
The great used car inflation of 2021 has slowed down, but inflation is still rising in less volatile categories of consumer goods and services, data from the Bureau of Labor Statistics showed Wednesday.
The Atlanta Fed’s survey of business expectations show that firm think inflationary pressures are mounting, not subsiding.
The Consumer Price Index shows prices jumping even higher in July.
Adjusted for inflation, hourly compensation fell 2.7 percent in the second quarter, data released by the Bureau of Labor Statistics on the nonfarm business sector showed Tuesday.
Inflation expectations are running at a record high in the New York Fed’s consumer survey.
Rising labor and food costs are likely to eat into the returns, according to an analyst.
All 17 subsectors of the American economy’s services side experienced rising prices in July.
Inflation may be creating an illusion of growth right now.
Spending on the construction of single family homes is not keeping up with the rising costs of goods and services for residential building.
Excluding food and energy, consumer prices were 3.5 percent higher last month than they were in June 2020, the briskest pace of inflation since the summer of 1991 and an acceleration from a month ago.
“While most consumers still expect inflation to be transitory, there is growing evidence that an inflation storm is likely to develop on the not too distant horizon,” said Richard Curtin, the chief economist of the University of Michigan’s consumer sentiment survey.
The company is “raising prices everywhere,” Chief Financial Officer Monish Patolawala said on a call to discuss the company’s second-quarter results.
People see prices rising everywhere and worry if they’ll be able to make ends meet even if the economy keeps growing.
Texas manufacturers say prices are still rising and they expect them to keep going up.
Consumers are growing wary of high prices and snarled supply chains continue to drive up costs.
Sen. Rick Scott and Gov. Brian Kemp will speak during Heritage Action’s national tour to spotlight Biden’s failed economic policies.
Most Americans expect inflation to worsen, even as the cost of gas and used cars is already up by 45 percent, the Washington Examiner reported.
The Consumer Price Index climbed 4.2 percent annually in April. Compared with March, prices rose 0.8 percent.