Tag: inflation
Food costs are high; will relief ever come?
From tomatoes and berries to lettuce and peppers, shoppers are feeling sticker shock in the produce aisle.
Recent headlines have focused in particular on soaring...
The Fed leaves interest rate unchanged; hike expected in September
WASHINGTON (AP) – The Federal Reserve left its key interest rate unchanged Wednesday despite persistently high inflation and a spike in energy prices caused...
Retail sales up a modest 0.2% in June
NEW YORK (AP) – Shoppers slowed their spending in June from May amid continuing economic uncertainty and fading benefits from generous government tax refunds.
Retail...
Inflation cools more than expected in June
WASHINGTON (AP) – U.S. inflation cooled last month as the cost of gas, clothes, and used cars fell, providing some relief to consumers, while...
Average 30-year U.S. mortgage rate rises to 6.49%
The average long-term U.S. mortgage rate drew closer this week to 6.5%, pushing up borrowing costs for prospective homebuyers.
The benchmark 30-year fixed rate mortgage...
U.S. hiring falls to just 57K in June amid elevated inflation,...
WASHINGTON (AP) – U.S. employers pulled back on hiring last month and added only 57,000 jobs, less than half the previous month’s total and...
Key inflation gauge jumps to 3-year high in latest sign of...
WASHINGTON (AP) – The Federal Reserve’s preferred inflation gauge rose to a new three-year high in May as gas prices peaked, a sign rising...
The Fed can do very little about high mortgage rates
The 30-year mortgage rate has been stuck at recent highs well above 6%, and pricey mortgages have been weighing on the housing market more...
R.I.’s single-family home price falls for first time since 2017, to...
WARWICK – The median sale price of single-family homes in Rhode Island dropped for the first time in nine years, to $500,000 in May,...
U.S. producer prices rose 6.5% in May on higher energy prices,...
WASHINGTON (AP) – U.S. producer prices climbed last month at the fastest pace since November 2022, fueled by a surge in energy prices after...
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