Usually when jobs and wages are rising, it’s a good thing, but right now they may signal higher odds of a nasty recession – and Americans aren’t ready for it.
Many voters say inflation is the issue that matters to them most as they head to the polls. The problem is, the people they choose can’t do much about it.
Despite the highest inflation rates in 40 years, Apple chose not to raise prices on its gadgets. More bizarre, the consumer price index suggests smartphones are 20% cheaper than a year ago.
Inflation remained near a 40-year high due to a jump in the cost of food and shelter. But that might not mean the Federal Reserve will get more aggressive when it comes to monetary policy.
The Supreme Court’s decision to strike down the landmark Roe v Wade ruling on abortion is having big political ramifications - and favouring the Democrats.
Soaring inflation in the US has been driven in part by large increases in the price of groceries – a burden that falls disproportionately on lower-income families.
The consumer price index, which measures everything from the price of peanut butter to gasoline, jumped at an annualized pace of 8.5% in March 2022 as inflation continued to accelerate.