Gas prices falling by more than 10% last month.
Although gas prices are still higher than average, they fell by more than 10% last month.
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There is no doubt that inflation is a problem that needs to be addressed, but it is encouraging to see that prices are starting to level off a bit. Hopefully the Fed's interest rate hikes will help bring inflation back down to more manageable levels. In the meantime, consumers will need to be mindful of their spending and budget accordingly.
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It's good news that gas prices have come down from their record highs this summer. This may mean that the worst of the inflationary surge is over. However, the stock market has still not recovered from its losses this year. Investors remain worried about the Federal Reserve's interest rate hikes, which could cooling the economy.
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The stock market took a turn for the worse today, after a disappointing report sent futures tumbling. The S&P 500 index plunged 1.3% in early trading, erasing any gains that had been made earlier in the day.
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According to Realtor.com, the median monthly rent in America's 50 largest metropolitan areas hit a record $1,879 in July, marking 16 consecutive monthly increases. This trend is likely to continue in the coming months, as shelter inflation (a measure of rent prices) has hit new highs in recent months. This could have devastating consequences for many renters who are already struggling to make ends meet.
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The Dow Jones Industrial Average surged 200 points on Wednesday as investors brace for the release of the August inflation report and further interest rate hikes from the Federal Reserve. With the release of the inflation report looming, investors are nervously watching to see if the data supports the Fed's recent rate hikes.
Forbes reports that rising rents are squeezing older adults. This is a trend that is likely to continue, as the cost of living continues to rise.
It's not just inflation: Avian flu will pump up prices of Thanksgiving turkeys. That's according to a new report from Forbes, which cites data from the National Turkey Federation.