As back-to-school shopping is forecast to reach a record $41.5 billion this year, parents and teachers in L.A. debate what’s essential on their lists — and get creative to make ends meet.Still, the path back to lower inflation has become more uneven: On a monthly basis, consumer prices jumped 0.6% in August, the most in more than a year. Compared with a year earlier, prices rose 3.7%, the second straight such increase.
And some factors are threatening to reignite inflation, weaken the economy, or both. Rising oil prices, for example, are making gasoline steadily more expensive. Should that trend continue, it would worsen inflation and leave consumers with less money to spend. Even the so-far limited strike by the United Auto Workers union against the Big 3 U.S. automakers could eventually further inflate vehicle prices.
This week’s Fed meeting comes as central banks around the world are mostly raising rates to fight inflation. Prices spiked after the pandemic hampered global supply chains, causing shortages and higher prices. Inflation worsened after Russia’s invasion of Ukraine in February 2022 sent oil and other commodity prices spiking.for the 10th time to 4%, the highest level on record since the euro was established in 1999, though it signaled that it could be its last hike.
Loans Loans Latest News, Loans Loans Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Source: TheBlock__ - 🏆 464. / 53 Read more »