A disconnect exists between big-picture indicators like unemployment and wages and the reality of day-to-day life for many in Maine, where groceries and housing costs remain stubbornly high.
inflation
Posted inBusiness, Nation & World, News
Inflation has fallen. Why are groceries still so expensive?
Grocery prices have jumped by 25% over the past four years, outpacing overall inflation of 19% during the same period.
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Posted inBusiness
Americans’ economic outlook brightens as inflation slows, wages outpace prices
Economists say consumers appear to be responding to steadily slower inflation, higher incomes, lower gas prices and a rising stock market.
Posted inNation & World, News
Slowing inflation suggests that Biden’s policies are helping, but American voters are still hurting
Former President Donald Trump has told supporters that the inflation under Biden is how ‘countries die’ and that a Trump return to the White House would mean lower energy costs.
Posted inBusiness, Nation & World
U.S. inflation edges up in December, fueled by food and housing prices
Excluding volatile food and energy costs, though, so-called core prices rose mildly month over month.
Posted inBusiness
U.S. inflation is set to fade in 2024 as goods prices keep falling
Goods prices overall have stopped rising and some, like those for cars, are falling.
Posted inBusiness, Nation & World, News
Everyone expected a recession. The Fed and White House found a way out.
Even though bankers and politicians urge caution and Americans complain that costs haven’t reverted to pre-pandemic level, the economy has bested all expectations for the year.
Posted inBusiness, Nation & World, News
Congressional Budget Office projects lower inflation, higher unemployment over next 2 years
The office’s Current View of the Economy from 2023 to 2025 report estimates that the unemployment rate will rise to 4.4% by the end of 2024.
Posted inBusiness, Nation & World, News
Federal Reserve keeps key interest rate unchanged, foresees 3 rate cuts next year
It is the first time since inflation first spiked that the central bank has formally acknowledged progress in its fight against accelerating prices.
Posted inBusiness, Nation & World, News
U.S. consumer inflation eased slightly as gas prices fell, though some costs kept surging
Compared with a year earlier, prices were up 3.1% in November, down from a 3.2% year-over-year rise in October.