Inflation

It’s Presidents’ Day, and to honor the nation’s top bosses, I figured an economic scorecard would be helpful. Now, the commander-in-chief probably gets too much blame – or too much credit – for what’s going on in the nation’s business climate. Still, the buck stops at the Oval Office for anything in America. With the cost of living a hot topic, my trusty spreadsheet reviewed how presidential terms fared with the Consumer Price Index dating back to the end of World War II. Now, one challenge in gauging presidential…

Some wholesalers and retailers of liquor and non-alcoholic beverages have decried low level of patronage of their products amidst soaring costs, following price increment by bottling companies across the country. The vendors, in separate interviews with the News Agency of Nigeria (NAN) in Lagos on Saturday, said there had been a 100 per cent price increase when compared with same period in 2023. Already, notification of upward price review have been issued by the bottling companies. NAN reports that a 50cl pet…

A "For Sale" sign outside a house in Albany, California, on May 31, 2022.David Paul Morris | Bloomberg | Getty ImagesMortgage rates shot higher Friday after a monthly government report on wholesale prices showed inflation is still persistent and hotter than most analysts had expected.The average rate on the 30-year fixed mortgage jumped to 7.14%, according to Mortgage News Daily. That is the highest level in two months.Mortgage rates hit their last high in October but then fell sharply over the next two months, leveling…

Unemployment is rising but still historically low, jobs remain plentiful in most industries, wages are up and the economy has withstood blow after blow without rolling over. So why does a sense of gloom pervade about where the economy is at and where it is headed? Blame inflation and high housing costs for the sense of malaise, said Henry Sobanet, chief financial officer and senior vice chancellor for administration and government relations at the Colorado State University Systems, at the 2024 Economic Forecast hosted by…

WASHINGTON — A measure of consumer sentiment ticked higher this month, after soaring in December and January, underscoring that Americans are starting to feel better about the economy after several years of gloom. The University of Michigan’s consumer sentiment index, released Friday, ticked up to 79.6 in February, from 79 in January. The small gain followed two months of sharp increases that were the largest in more than 30 years. How Americans feel could impact the presidential race this year, which will likely focus…

Bitcoin spiked above $50,000 Tuesday for the first time in more than two years as investors grow optimistic that US approval of broader trading in the unit will ramp up demand.The cryptocurrency has enjoyed a strong run in recent months, fuelled by expectations US lawmakers would allow the creation of exchange-traded funds (ETFs) that track the price and let the public invest in crypto without directly purchasing it.Elevate Your Tech Prowess with High-Value Skill CoursesOffering CollegeCourseWebsiteMITMIT Technology…

Nigeria’s annual inflation rate rose to 29.90 per cent in January from 28.92 per cent in December 2023, the National Bureau of Statistics (NBS) said Thursday. The statistics office said the January 2024 headline inflation rate showed an increase of 0.98 per cent points when compared to the December 2023 headline inflation rate. The NBS said on a year-on-year basis, the headline inflation rate was 8.08 per cent points higher compared to the rate recorded in January 2023, which was 21.82 per cent. “This shows that…

Nigeria’s annual inflation rate rose to 29.90 per cent in January from 28.92 per cent in December 2023, the National Bureau of Statistics (NBS) said Thursday. The statistics office said the January 2024 headline inflation rate showed an increase of 0.98 per cent points when compared to the December 2023 headline inflation rate. The NBS said on a year-on-year basis, the headline inflation rate was 8.08 per cent points higher compared to the rate recorded in January 2023, which was 21.82 per cent. “This shows that…

Price decreases at the pump and on used car lots helped push consumer inflation lower in metro Denver the past two months and bring it more in line with the national average last month. The Consumer Price Index for Denver-Aurora-Lakewood, which is measured every two months, dropped 0.1% between November and January, following a 0.34% decline between September and November, according to an update Tuesday from the U.S. Bureau of Labor Statistics. The month-over-month declines are helping push the annual rate lower. That…

Jame Quincey, CEO of Coca-Cola Co., speaking on Squawk Box at the WEF in Davos, Switzerland on Jan. 18th, 2023. Adam Galica | CNBCInflation is moderating in most markets, after a stretch in which the beverage maker relied on price hikes to drive higher revenue, Coca-Cola CEO James Quincey said Tuesday.Coke reported its fourth-quarter results Tuesday, and said higher prices helped the company beat Wall Street's estimates for its quarterly sales. But Coke's price hikes have slowed from the last two years' double-digit…