Inflation causing grocery store costs to rise faster than restaurant prices

It’s no secret, that prices are going up at the pump, at the grocery store, and if they haven’t already, experts say there’s a good chance you’ll start to see prices rise at many restaurants too.

US long-term mortgage rates rise; 30-year loan reaches 5%

Long-term U.S. mortgage rates continued to climb this week as the key 30-year loan rate reached 5% for the first time in more than a decade amid persistent high inflation.

Why Biden is waiving rule on higher levels of ethanol in gas this summer

President Joe Biden says his administration will suspend a federal rule that bars higher levels of ethanol in gasoline during the summer.

Deutsche Bank predicts US recession in 2023 due to Fed rate hikes

Deutsche Bank is the first major financial institution to predict a recession due to rising inflation and the Federal Reserve's hawkish plan to tame it.

Biden ‘has not ruled out’ canceling student loan debts, White House says

Press Secretary Jen Psaki made the comment the same day the Biden administration announced plans to freeze federal student loan payments through Aug. 31

Corn could be the answer to high gas prices

Under the Home Front Energy Independence Act, ethanol fuel would be produced and sold year-round in the U.S. instead of only during the summer months. The proposal aims to further decrease dependence on Russian petroleum exports over its war on Ukraine.

What is shrinkflation? How companies hide inflation without increasing prices

If you haven’t seen a price increase on a product or service you purchased recently, chances are that the company may still be passing along the rising costs to you without the obvious price hikes.

Federal Reserve hikes interest rate to fight inflation, more to come

The Federal Reserve launched a high-risk effort to tame the worst inflation since the 1970s, raising its benchmark short-term interest rate and signaling potentially up to seven rate hikes this year.

Puerto Rico exits bankruptcy after grueling debt negotiation

Puerto Rico’s government formally exited bankruptcy Tuesday, completing the largest public debt restructuring in U.S. history after announcing nearly seven years ago that it was unable to pay its more than $70 billion debt.

Inflation rises to yet another new 40-year high in February

With inflation reaching yet another new 40-year high in February, economists have begun to question the Fed's ability to bring it back down.

Canned pet food shortage continues amid supply chain woes

The canned pet food industry continues to feel the burn as supply chain woes and increases in price leave many pet owners improvising their dog or cat’s next meal.