Inflation hits 7.9%

The United States Department of Labor reported yesterday that consumer prices rose 0.8 percent in February and 7.9 percent over the last 12 months. The consumer price index (CPI), the key gauge of inflation, showed price growth speeding up on both a monthly and annual basis. The all-item index rising almost 8% annually is the…

Read More »

Economic Trends

The omicron and delta variants of the COVID virus may be slowing the nation’s economic recovery, but they are not slowing down the inflation rates at all. In fact, the Department of Labor Bureau of Labor Statistics (BLS) reported this week that the producer price index (PPI) – inflation before reaching the consumer – rose…

Read More »

Economic Trends

The fall months brought a trifecta of bad news from an economic standpoint as the number of Americans who quit their jobs in September rose to 3% – the highest rate ever recorded since the Bureau of Labor Statistics (BLS) began collecting that data two decades ago. The September numbers translate to 4.4 million people,…

Read More »

On Economic Front: Inflation & Jobs Up

Consumer prices grew much faster than expected in October, according to data released this week by the U.S. Department of Labor (DOL). The consumer price index (CPI) rose 0.9 percent last month and was 6.2 percent higher that it was in October 2020, the largest annual increase in 30 years! Generally speaking, analysts were expecting…

Read More »

Inflation Fuels Larger Wage Hikes

While many of today’s younger workers – and voters – may not have experienced the bite of inflation eating more of their compensation, those of us who more clearly understand the meaning and impact of the Consumer Price Index (CPI) are already seeing some effect from inflation. Among the many states, counties and cities that…

Read More »

Economic Trends

We’ve seen a mixed bag when it comes to economic news over the past few weeks with consumer prices continuing to rise at restaurants but restaurant spending stagnating through August. According to the Consumer Price Index report for August as released by the Bureau of Labor Statistics (BLS), prices at full-service restaurants rose by 0.6%…

Read More »

With New Year Comes Minimum Wage Hikes

With the flip of the calendar to December, we need to be aware of pending increases in state minimum wages across the country.  To that end, on January 1, 2017 the following increases will become effective: Arizona to $10 per hour; Arkansas to $8.50; California to $10.50; Colorado to $9.30; Connecticut to $10.10; Hawaii to…

Read More »