Indiana farmers battle production cost spikes
Facing steep increases in food production costs, Indiana farmers warn that consumers are likely to see continued price jumps at stores later this year.
Inflation
Articles
As Indiana considers second tax refund, some wonder: where’s the first?
As of June 22, Indiana had issued about $245.6 million in refunds, according to the Department of Revenue. That’s about 45% of the $545 million Gov. Eric Holcomb promised to return when he announced the move in December 2021.
From stocks to crypto, a punishing six months for investors
The S&P 500, Wall Street’s broad benchmark for many stock funds, closed the first half of 2022 with a loss of more than 20% after starting the year at an all-time high. It’s the worst start to a year since 1970, when Apple and Microsoft had yet to be founded.
Key inflation gauge tracked by the Fed remains a high 6.3%
Thursday’s report from the Commerce Department provided the latest evidence that painfully high inflation is pressuring American households and inflicting particular harm on low-income families and people of color.
Powell: ‘No guarantee’ Fed can tame inflation, spare jobs
Federal Reserve Chair Jerome Powell repeated his hope that the Fed can achieve a so-called soft landing, but said the job had become more difficult.
Inflation hits state capital, infrastructure projects
Ever-increasing prices at the pump and grocery store checkout line aren’t the only places where Hoosiers can see the impact of inflation—state building projects are also feeling the budgetary strain.
Powell: Fed will decide on rate hikes ‘meeting by meeting’
Federal Reserve Chair Jerome Powell on Wednesday underscored the Fed’s determination to raise interest rates high enough to slow inflation, a commitment that has fanned concerns that the central bank’s fight against surging prices could tip the economy into recession.
Yellen: Recession not inevitable, gas tax holiday weighed
Treasury Secretary Janet Yellen is offering a dose of optimism even as economists grow increasingly worried about a recession fueled by skyrocketing inflation.
Inflation taking bite out of new infrastructure projects
Rising prices for materials such as asphalt, steel and iron pipes are driving up the costs to build roads, bridges, rail lines and water mains. The prices for some infrastructure materials have risen even faster than general consumer prices.
Biden signs shipping law expected to cut consumer costs
The Ocean Shipping Reform Act passed the Senate unanimously via voice vote and garnered bipartisan House support.
Fed’s aggressive rate hikes raise likelihood of recession
Economic history suggests that aggressive, growth-killing rate hikes could be necessary to finally control inflation. And typically, that is a prescription for a recession.
Fed tries to attack inflation with its largest rate hike since 1994
The Federal Reserve on Wednesday intensified its drive to tame high inflation by raising its key interest rate and signaling more large rate increases to come that could raise the risk of another recession.
U.S. retail sales post first drop in five months as auto purchases plunge
Americans trimmed their spending unexpectedly in May compared with a month before, underscoring how surging inflation on daily necessities like gas is causing them to be more cautious about buying discretionary items.
Biggest rate hike since last century expected as Fed tackles inflation
A series of sizable increases would heighten borrowing costs for consumers and businesses, likely leading to an economic slowdown and raising the risk of a recession.
U.S. producer prices soar 10.8% as energy costs spike
The producer price data captures inflation at an earlier stage of production and can sometimes signal where consumer prices are headed. It also feeds into the Federal Reserve’s preferred measure of inflation, the personal consumption expenditures price index.
Several factors converging to push gasoline prices higher
There is little evidence that gasoline prices, which hit a record national average of $5 a gallon on Saturday, will drop anytime soon.
U.S. consumer sentiment slumps to record low on inflation woes
As high prices leave less income for discretionary purchases, the risk to the economy is a more pronounced slowdown in consumer spending.
U.S. inflation rises again, hitting 40-year high of 8.6%
Some evidence in recent weeks had suggested that inflation might be moderating, particularly for long-lasting goods that were caught up in supply chain snarls and shortages last year. But that trend appeared to reverse itself in May.
Empty wallets, empty tanks: Surging gas prices leave more drivers stranded
The incessant run-up in prices has motorists testing the limits of their fuel gauges: AAA fielded 50,787 out-of-gas calls in April, a 32% jump from the same month last year.
Worry about stagflation, a flashback to 1970s, begins to grow
Stagflation is the bitterest of pills: High inflation mixes with a weak job market to cause a toxic brew that punishes consumers and befuddles economists.