The proposals the president made in his State of the Union address won’t have much impact on short-term price increases.
inflation
Posted inBusiness
Wheat, corn prices surge amid Russia’s invasion of Ukraine
Inflation is already at a four-decade high in the U.S., partly driven by rising food costs.
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Posted inBusiness
Federal Reserve chair: Russia’s war on Ukraine will worsen inflation
Jerome Powell warned that Russia’s invasion has already driven up oil prices.
Posted inBusiness, Local & State
In a cold winter, Maine household budgets buckle under growing energy burden
Skyrocketing prices for electricity, heating oil and gasoline are hitting Mainers especially hard when the mercury falls.
Posted inBusiness, Nation & World
Biden has long-term inflation plan, but voter patience is short
He believes a cluster of companies control too many industries, which reduces competition for customers and workers.
Posted inThe Forecaster
Letter: It all adds up when it comes to presidential administrations
In 1980, I bought a house in Portland, where I was hired as a teacher. My mortgage rate was 14.8%. “Unheard of,” you say, youngsters? Oh, not so. Guess who was president? Jimmy Carter, a Democrat (Jan 20, 1977, to Jan 20, 1981). Nice man, but the economy was not his strong point. And, isn’t […]
Posted inBusiness, Local & State
Maine businesses and residents feel inflation’s bite
Business owners and consumers say higher prices threaten to slow the state’s economic recovery as inflation hits a 40-year high.
Posted inBusiness, Nation & World
‘Survival mode’: Inflation falls hardest on low-income Americans
A growing body of research shows lower-income households tend to face faster price growth than their high-income peers – a finding that resonates deeply with workers contacted by The Post.
Posted inBusiness
What’s really going on with inflation? Economists weigh in
Consumers are eager to spend, and suppliers aren’t able to keep up with the demand.
Posted inBusiness, Nation & World
U.S. inflation soared 7% in past year, the most since 1982
Prices rose sharply in 2021 for cars, gas, food and furniture as part of a rapid recovery from the pandemic recession.