Search Results for: "tom price"
Prices Continue to Increase as Real Wages Shrink
September 13, 2022
Economists expected the Consumer Price Index to fall in August, but the costs of goods and services actually increased month over month. Over the past year, prices have risen 8.3 percent, remaining near 40-year highs. CNBC on August CPI Report: "Headline number expected to be down, is up one tenth…
Rising Food, Housing Prices Fuel Inflation
August 10, 2022
The prices consumers pay for goods and services rose 8.5 percent year-over-year in July as inflation pressures “remained strong.” Prices for food and housing remained especially elevated, hammering families’ finances. Real wages, which subtract inflation from wage increases, have now decreased for 16 consecutive months. Bloomberg: The food-at-home category soared…
Small Businesses Are Raising Prices to Keep Up With Historic Inflation
February 8, 2022
The National Federation of Independent Businesses reported that most U.S. small businesses raised prices in January as they struggled to keep up with inflation. Nearly a quarter of respondents said that inflation was their “single most important business problem,” the highest level since 1981. Bloomberg: A net 61% of owners…
Rising Costs Force Christmas Spending Cuts
November 28, 2022
Record-breaking prices are straining budgets this holiday season. The cost for Thanksgiving food and travel soared to record highs, forcing families to make difficult financial decisions, and now many say they are cutting back on Christmas spending, too. Washington Examiner: New data from CRC Research shows that well more than…
Savings Accounts, 401(k)s Collapse
October 18, 2022
Americans’ finances are suffering in the Democrats’ broken economy. People are saving less, the value of retirement accounts is collapsing, and real-wages are shrinking as inflation skyrockets and the economy sinks further into a recession. Stephen Moore & E.J. Antoni Op-Ed: A year ago we were assured by the White…
Core Inflation Reaches New 40-Year High
October 13, 2022
Inflation, fueled by reckless government spending, outpaced expectations in September. Overall consumer prices rose 8.2% year over year, and core prices — which excludes food and energy — increased 6.6%. Wall Street Journal: U.S. consumer inflation excluding energy and food accelerated to a new four-decade high in September as prices…
Polls Show Americans Are Concerned for their Financial Security
June 30, 2022
Americans’ financial standing is at risk, as economic policy under the Biden Administration has given way to runaway inflation and plummeting economic confidence. AP: Eighty-five percent of U.S. adults say the country is on the wrong track, and 79% describe the economy as poor, according to a new survey from…
Recovery ‘Slowing’ as Companies Add Fewer Jobs Than Expected
May 4, 2022
Private U.S. businesses added just 247,000 jobs in April — 143,000 fewer than expected. Small businesses were the “primary culprit”, losing 120,000 workers month-over-month. CNBC: Private payrolls increased by just 247,000 for the month, well below the 390,000 Dow Jones estimate. That was a big decline from March, which saw…
Inflation, Accelerating, Hits Four-Decade High
March 10, 2022
Inflation rose .8% month-over-month in February, an even faster increase than January, to reach a 7.9% year-over-year rate. Wall Street Journal: The CPI measures what consumers pay for goods and services, including groceries, clothes, restaurant meals, recreation and vehicles. Month to month, CPI rose a seasonally adjusted 0.8% in February.…
Key Inflation Gauge Surges to 40-Year High at 5.8%
January 28, 2022
The Commerce Department’s Personal Consumption Expenditures index – the Federal Reserve’s preferred measure of inflation — surged 5.8 percent year over year, the fastest rate in 40 years. Additionally, consumer spending decreased, another indicator that the economic recovery may be faltering. Associated Press: A measure of prices that is closely…