Americans remain highly concerned about inflation and continue to wonder if the Federal Reserve Board has the ability to keep it under control.
A new Rasmussen Reports national telephone survey finds that 75% of American Adults are concerned about inflation, consistent with monthly surveying for the past three years. This finding includes 37% who are Very Concerned. Twenty-two percent (22%) are not concerned about inflation, but that includes only four percent (4%) who are Not At All Concerned.
NEW YORK (AP) -- Travelers, prepare to pay more for your flight.
The average roundtrip ticket within the U.S., including taxes, reached $509.15 in the first six months of this year, up nearly $14 from the same period last year. Domestic airfare continues to outpace inflation, rising 2.7 percent compared to the 2.1 percent gain in the Consumer Price Index.
Airfare has gone up 10.7 percent in the past five years — after adjusting for inflation — according to an Associated Press analysis of data from the Airlines Reporting Corp., which processes ticket transactions for airlines and more than 9,400 travel agencies, including websites such as Expedia and Orbitz
Flight cancellations, hour long security lines, endless delays and rapidly rising airline fares are turning the friendly skies into fight club. A day after footage of one man's mile-high meltdown went viral came news that might make you want to throw a seat cushion or two yourself: airline fare prices jumped 6% in May. It's the steepest one-month increase in 15 years.
The price hikes come despite the fact that the U.S. travel experience has in some ways never been worse. Once again this year no U.S. carrier managed to crack the top 20 in a rating of the best airlines by Business Insider. At SkyTrax only Jet Blue and Virgin U.S. qualify for even four stars (out of five) on their ratings of hundreds of global carriers. Those two airlines account for less than 5.2% of U.S. traffic and Virgin isn't even a U.S. company. For the sake of comparison Kazakhstan has the same number of fully domestic based carriers with a four star rating.
Short supplies of beef and pork have finally reached the retail level.
After the first quarter of the year, the American Farm Bureau Federation Deputy Chief Economist John Anderson says retail prices for beef and pork cuts have gone into record territory.
Average pork price per pound in March was $3.83, higher than the record level last fall. Beef saw a 23 percent increase compared to the 2010 to 2012 average at $5.40 per pound.
U.S. producer prices rose in August as energy costs rebounded, but underlying inflation remained tame.
The Labor Department said on Friday its seasonally adjusted producer price index increased 0.3 percent last month. Wholesale prices had been flat in July.
The Federal Reserve could begin reducing its bond-buying stimulus as early as its September meeting despite inflation being below target, Atlanta Fed President Dennis Lockhart said on Tuesday.
U.S. economic performance remains too mixed for Federal Reserve policymakers to lay out a detailed path for reducing and eventually halting their asset-purchasing program next month, Lockhart said.
Chicken prices have almost doubled in the last two years, leading higher costs for restaurants and chicken lovers alike, and prices don’t seem to be dropping any time soon.
Drought conditions pushed grain prices higher in 2010. And last year's drought-- the worst since the Dust Bowl which decimated farms in the 1930s--made matters worse.
The average price of U.S. gasoline dipped slightly over the past three weeks due to plentiful supplies, but prices are expected to jump soon as retailers pass on the higher cost of wholesale gasoline to consumers, the Lundberg survey said on Sunday.
Gasoline cost $3.5908 a gallon on average, according to the widely followed survey of about 2,500 retail stations taken on July 12. That is 0.61 cent a gallon cheaper than the last survey on June 21, but still 18.05 cents higher than a year ago.
CORALVILLE COURIER EDITOR'S NOTE: It would be foolish to take the establishment media story below at face value. Have you been to the grocery store lately?
(Reuters) - A gauge of underlying inflation showed signs of stabilizing in May after a long decline, a potential comfort to Federal Reserve policymakers who want firmer prices.
Other data on Tuesday showed an increase in groundbreaking at home construction sites, the latest sign America's housing market recovery will help counter the drag on the economy from government austerity.
Drivers who fill up their tanks every week probably noticed a recent jump in the cost of gasoline. Indeed, the average price for a gallon of regular gas is $3.58, which is six cents higher than a week ago, marking the biggest weekly increase since February. The current average is four cents higher than a month ago.