Tag Archives: Inflation

Inflation has touched nearly every area of the economy, including the hospitality sector. According to celebrity chef Wolfgang Puck, restaurant suppliers have raised prices “tremendously,” forcing him to rethink how to avoid passing on the cost to his customers. “We just have to engineer the menu a little different so not everything is expensive,” the restaurateur said on Influencers with Andy Serwer. Puck has noticed inflation particularly in food items like beef, fish, and vegetables. The… Source link

Around three million people who left the workforce during the pandemic still don’t want to return, blaming virus fears.AP Millions who left the labor force last year don’t plan to return to work, shops, or eating out. Women, those without a college degree, and people in low-paying sectors are least likely to return. A worker shortage will likely put more pressure on wages and prices even as the Fed increases rates. Millions of Americans who left the workforce last year plan to stay away… Source link

President Biden says he’s doing “everything within my power” to lower inflation. But he’s not. What he’s really doing is making a calculated bet that inflation will break without forcing him to abandon some key political principles. If he’s right, his ratings will improve, along with the odds for Democrats’ electoral success. If he’s wrong, Democrats will likely suffer a wipeout in this year’s midterm elections, with a possible recession looming over the second half of… Source link

Restaurants continue to grapple with the aftermath of COVID-19 as surging prices, supply chain headwinds and labor shortages compound an already struggling sector. “This is the toughest operating environment I’ve ever seen for this industry…and I haven’t seen anything loosen up yet,” AJ Kumaran, Raising Cane’s co-CEO and COO, told Yahoo Finance in a new interview. Labor has been one of the most difficult obstacles for restaurants to overcome, with nearly half of all operators citing… Source link

March’s Consumer Price Index (CPI) report was released by the Bureau of Labor Statistics Tuesday morning, and as expected, it wasn’t pretty. Total inflation increased by 8.5% on an annual basis in March, higher than both consensus estimates of 8.4% as well as February’s showing of 7.9%. Much of the increase was driven by gains in the energy sector, which in turn was fueled by high gasoline prices. “Increases in the indexes for gasoline, shelter, and food were the largest contributors… Source link

U.S. stock futures jumped in pre-market trading Tuesday as investors assessed fresh inflation data out of Washington that showed prices in March further accelerated to a new 40-year high. Contracts on the S&P 500 popped 0.7%, and the Dow jumped nearly 130 points ahead of the open. Futures tied to the Nasdaq Composite surged 1.3%. Meanwhile, Treasury yields slightly retreated, but the benchmark 10-year yield remained above 2.7%, the highest level since January 2019. The moves follow a down day… Source link

U.S. consumer price increases quickened in March, underscoring ongoing inflationary pressures as supply chain disruptions and shortages lingered across the economy. The Bureau of Labor Statistics’ (BLS) Consumer Price Index (CPI) rose 8.5% in March compared to the same month last year, according to the latest report released Tuesday. That marked the fastest rise since December 1981. This followed a 7.9% annual increase in February. Heading into the report, consensus economists were looking… Source link

U.S. stock futures pointed to a lower open Monday morning as investors looked ahead to the start of corporate earnings season this week and a bevy of new economic data as the Federal Reserve prepares to accelerate its moves to counter inflation. Contracts on the S&P 500 declined and added to last week’s losses. Nasdaq futures dropped as technology stocks came under renewed pressure. Treasury yields climbed, and the benchmark 10-year yield rose above 2.7% to reach the highest level since… Source link

(Bloomberg) — China’s factory gate prices rose more than expected in March as oil prices climbed, while disruptions from Covid lockdowns drove up food costs, threatening the inflation outlook in the world’s second-largest economy. Most Read from Bloomberg The producer price index gained 8.3% from a year earlier, official data showed Monday, down from 8.8% in February and above the median estimate of an 8.1% increase in a Bloomberg survey of economists. Consumer-price growth accelerated to… Source link

(Bloomberg) — Stocks and U.S. equity futures fell along with Treasuries Monday amid heightened worries about inflation risks and tightening financial conditions. A gauge of the dollar climbed. Most Read from Bloomberg An Asia-Pacific equity index shed more than 1%, dropping to the lowest since mid-March. China and Hong Kong struggled, with tech shares skidding on new guidelines from Beijing aimed at curbing data monopolies at internet platforms. U.S. and European futures also declined,… Source link