Tag Archives: Inflation

Thanksgiving gatherings are back, according to the CEO behind the turkey brand Butterball. In a recent interview with Yahoo Finance, Jay Jandrain said, “We’re seeing larger size gatherings now, we’re seeing a resurgence for people to have that Thanksgiving meal” after COVID-19 impacted the past two years, leading many consumers to have smaller groups for holiday gatherings. “Expectation is very high for participation and they are going to be larger groups … They’ll probably be demand for… Source link

Billionaire hedge fund manager Bill Ackman has been urging the Federal Reserve to get serious on inflation since late last year. Now, he has doubts about the U.S. central bank’s ability to bring price stability down to its target. And thinks stock prices could remain under pressure as rates stay high amid this new environment. The Pershing Square Capital founder and CEO said Thursday in a quarterly call with investors that interest rates are “meaningfully below where they are going to… Source link

Fresh geopolitical tension put a halt to a significant stock rally on Wall Street Tuesday, as investors assessed reports that Russian missiles crossed into Poland. The S&P 500 (^GSPC) pared early morning gains, ticking slightly higher by 0.2% during midday trading, while the Dow Jones Industrial Average (^DJI) slipped by 0.2%. The technology-heavy Nasdaq Composite (^IXIC) also lost some early gains but remained up 0.7% in the afternoon. Poland Prime Minister Mateusz Morawieck convened a… Source link

Even hip-hop icon Fat Joe is feeling the sting of inflation. “My wife is upset with the economy because everybody’s doing terrible out here — and we have more friends that are middle class to poor than we have rich friends,” the millionaire “Lean Back” singer said in a new edition of Yahoo Finance Presents. “You know, my wife came home from the supermarket. She had one bag. She was like: ‘It was $350… one bag.’ It’s crazy.” While the stock market embraced the latest Consumer Price Index… Source link

This article first appeared in the Morning Brief. Get the Morning Brief sent directly to your inbox every Monday to Friday by 6:30 a.m. ET. Subscribe Friday, November 11, 2022 Today’s newsletter is by Jared Blikre, a reporter focused on the markets on Yahoo Finance. Follow him on Twitter @SPYJared. Read this and more market news on the go with Yahoo Finance App. Stocks and bonds had an especially bullish reaction to new data out Thursday showing that inflation continues to moderate after… Source link

At the start of the year, new and used car prices were soaring. Nobody had ever heard of a 40% inflation rate for used cars, yet an acute shortage of semiconductors threw the car market into disarray. With chip shortages severely depressing new-car production, consumers with plenty of cash shopped used instead. So prices skyrocketed. With the chip shortage easing, car prices are falling back to earth. The year-over-year change in new cars peaked at 13.2% in April and has now dropped to 8.4%,… Source link

U.S. inflation eased slightly last month as the Federal Reserve raised interest rates to get a grip on prices that have surged at a historic pace. The Consumer Price Index (CPI) in October reflected a 7.7% increase over last year and 0.4% increase over the prior month, the Bureau of Labor Statistics said Thursday. Economists had expected prices rose at an annual 7.9% clip and 0.5% month-over-month, per Bloomberg consensus estimates. On a “core” basis, which strips out the volatile food and… Source link

Wolfgang Puck says the luxury dining industry is feeling the pinch of inflation. In a recent interview with Yahoo Finance, the world-renowned Chef and restaurateur, broke it down point-blank saying, “some of this thing has gotten out of control.” “The average cost now in our restaurants for food is up 15%, which is a lot,” adding that some other costs like equipment to prepare the food are also on the rise. “I bought the other day cutting boards, for example, for one restaurant I bought 12… Source link

A key component propping up consumer prices is cooling, but it’s not yet reflected in the government’s inflation measure, according to experts. The shelter component of the Consumer Price Index — which includes rent and owners’ equivalent of rent — makes up 30% of overall inflation and 40% of core CPI, which excludes food and energy prices. Real-time data is showing softening rents, but the survey used to determine shelter prices lags current pricing. That disconnect could pose a problem… Source link

This article first appeared in the Morning Brief. Get the Morning Brief sent directly to your inbox every Monday to Friday by 6:30 a.m. ET. Subscribe Friday, October 14, 2022 Today’s newsletter is by Julie Hyman, anchor and correspondent at Yahoo Finance. Follow Julie on Twitter @juleshyman. Read this and more market news on the go with Yahoo Finance App. Inflation came in red-hot again on Thursday, meaning the Federal Reserve will almost certainly raise interest rates by at least 75 basis… Source link