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A rip current statement in effect for 5 regions in the area

See the complete list

WEATHER ALERT

A rip current statement in effect for 5 regions in the area

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INFLATION


3 days ago

Powell tells Congress the Fed is 'strongly committed' to bringing down inflation

Fed Chairman Jerome Powell said Wednesday that the central bank is determined to bringing down inflation and has the ability to make that happen.

cnbc.com
3 days ago

UK inflation hits 9.1% in May

UK inflation, the rate at which prices rise, edged up to 9.1% in the year to May up from 9% in April.

bbc.co.uk

Gas prices, inflation causing many to alter or abandon summer travel plans

With gas prices approaching $5 in most locations, and quadruple the typical rate of inflation, many Americans are choosing more modest summer trips in 2022 or foregoing travel altogether.

Millionaires are raising cash on fears that the Fed can't tame inflation and stave off recession

Millionaires surveyed by CNBC ranked inflation as the top risk to both the economy and their personal wealth.

cnbc.com

National gas prices have officially hit $5 a gallon

For the first time, the national average for a gallon of gas now tops $5.

Jacksonville shoppers, small businesses feeling pinch of 40-year high inflation

Inflation is at a four-decade high and that’s causing problems for local families and businesses.

Rising inflation is affecting driving, grocery shopping and summer travel

Inflation is creating lifestyle changes for people. The U.S. Treasury Secretary announced Tuesday that the Biden Administration underestimated how high inflation would continue to impact American consumers.

WE WANT TO KNOW: What are you doing to manage the rising cost of living?

Gas prices are higher than they’ve been in years. According to AAA, the national average is $4.67 and in Florida it’s slightly less at $4.64. The rising cost of gas coincides with the rising cost of housing, groceries, airfare, automobiles -- the list goes on and on.

Inflation to last into 2023, says Congressional Budget Office

CBO's forecast suggests that inflation will slow from current annual levels of 8.3%, yet it would still be dramatically above a long-term baseline of 2.3%.

cbsnews.com
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Congressional Budget Office says inflation to last into 2023

The Congressional Budget Office says that high inflation will persist into next year.

TRUST INDEX: President Biden blames inflation on the pandemic and the war in Ukraine

The News4JAX Trust Index team is fact checking a statement made by President Biden during his speech Tuesday at the White House.

Filling up with gas is costing drivers in Florida more than in Georgia

We’re not even into the busy summer travel months and already the price of gasoline has risen by 20-cents the past two weeks. Drivers in Florida on average are paying $4.20 while the average price of gas in Georgia is more than 35-cents cheaper.

Why the market is taking Powell's 'soft-ish' economic language so hard: Former Fed official Roger Ferguson

Inflation may go down, but isn't going away, and the markets and economy will be 'rocky' for up to two years, says former Fed official Roger Ferguson.

cnbc.com

Now is a good time to buy this inflation savings bonds

With inflation rising, government series I bonds are worth a look if you're looking for a great return and safety.

washingtonpost.com

Jim Cramer says to buy the dip on days like Monday: 'It’ll be too late' if you wait for the Fed

"I know from experience that if you wait until the [Federal Reserve] is done and inflation's broken, it'll be too late to buy," the "Mad Money" host said.

cnbc.com

Most Americans still feel optimistic about retirement. But inflation is hurting some workers’ confidence

Despite the pandemic, most Americans still feel optimistic about retirement, a survery finds. But inflation is a top concern for those who aren't prepared.

cnbc.com

Treasury yield touches 2.91%, a level not seen since late 2018

U.S. Treasury yields rose Tuesday, as traders fret over concerns of rising inflation and tighter monetary policy.

cnbc.com

Retail sales rose 0.5% in March amid inflation jump; import prices hit 11-year high

Retail sales were expected to increases 0.6% in March, according to Dow Jones estimates.

cnbc.com
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Grocery stores and restaurants experience another hike in the price of food

Grocery shopping keeps getting more and more expensive. Even buying just your average household staples will cost you a few extra bucks.

We want to know: How are you managing the rising cost of food?

It's a result of inflation that is affecting everyone. According to the U.S. Department of Agriculture, you'll soon be paying even more eating in or dining out.

Ukraine conflict: Russia to allow unauthorised imports from West

The decision is in response to Western sanctions and surging inflation since the war in Ukraine.

bbc.co.uk

Federal interest rate hike expected to help with inflation

Fed policy makers know they have to start raising interest rates given the low unemployment rate and inflation at 40-year highs.

Will beer prices be affected by Russia and Ukraine conflict?

The Ukraine and Russia conflict will affect prices of items. According to an economics expert, the price of beer will go up because Ukraine and Russia are top suppliers of barley.

Let us know: How is inflation affecting you and your family?

The number of small businesses that raising prices on customers in January rose to a 48-year high, reflecting higher costs of labor and materials amid the biggest surge in U.S. inflation since the early 1980s.

Five charts explaining why inflation is at a 40-year high

Persistent supply chain backlogs and high consumer demand for goods have kept prices elevated.

washingtonpost.com

Here’s how inflation could affect your next real estate move

If you’re buying and expect to keep the home for the long haul, you should expect the same value increases that existing owners are experiencing. If you are looking at a shorter investment time horizon — perhaps through flipping the property, for example — then we should caution “buyer beware.”

washingtonpost.com

Who Does Inflation Harm More, the Poor or the Rich?

It’s not an easy question to answer, but the balance of evidence suggests that lower-income households will take a beating.

washingtonpost.com
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Inflation is painfully high, but some relief may be coming

Inflation is painfully high, but this hopefully is close to as bad as it gets.

Midterms weigh on Biden’s challenge, gamble and wish

Biden hasn’t gotten credit for what he’s accomplished and hasn’t done all he said he would. Now a new coronavirus variant adds uncertainty to the months ahead.

washingtonpost.com

If you don’t get a 6% raise, are you taking a pay cut due to inflation? Here’s what experts say

The Consumer Price Index, a measure of inflation, is up 6.2% from a year ago. Still, getting a raise under 6% doesn't always mean you're taking a pay cut.

cnbc.com

Kyle Rittenhouse takes the stand at his trial: "I didn't do anything wrong, I was defending myself"

Rittenhouse, the 18-year-old charged with killing two people and wounding a third, testified at his trial in Kenosha, Wisconsin.

cbsnews.com

Budget 2021: UK economy set to return to pre-Covid level at end of year

The UK's independent forecaster says the economy will return to pre-Covid levels faster than expected.

bbc.co.uk

Stocks End Higher, Bringing S&P 500 To The Cusp Of A Record

The S&P 500 has approached another record high.

newsy.com

Economy Has Plenty of Offramps Before Stagflation City

Inflation is accelerating faster than real growth, but that’s not unusual historically, and it doesn’t necessarily mean the trend will continue.

washingtonpost.com

71% of retirement age investors worry rising inflation will negatively affect their savings, survey finds

A new survey shows retirement age investors are concerned rising inflation could make it difficult to find steady income from their investments.

cnbc.com

Worried about inflation? Here's how to protect your retirement portfolio

Your strategy will depend on how close you are to retiring.

cnbc.com
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'This is not 1973': Economist rules out 'stagflation' and persistent price pressures

Inflation expectations are still being driven by a "temporary spate of supply issues" with no sign of continued upward price pressure, according to economist Carl Weinberg.

cnbc.com

Fed’s Infighting Shows It Lacks Answers About Inflation

A senior economist at the central bank offers a stark contrast to Chair Jerome Powell’s focus on expectations about the pace of price growth.

washingtonpost.com

Seeing the 'real' Big Bang through gravitational waves

The earliest and most momentous epoch in the history of the universe released a flood of gravitational waves, tiny ripples in the fabric of space-time.

space.com

General Mills is the latest company to face a big inflation hit

The maker of the "magically delicious cereal" told investors Wednesday that the company expects to see inflation running at a lofty 7% this year.

cnbc.com

UK inflation jumps to 2.1% in May

The rising cost of clothes, fuel and eating out pushes consumer prices above the Bank of England's 2% target.

bbc.co.uk

Used car costs drive US prices higher in May

US consumer prices spiked last month, with inflation jumping to 5% for the 12 months ending in May.

news.yahoo.com

Kroger CEO says he expects normal levels of food inflation this year

Kroger CEO Rodney McMullen told CNBC on Thursday he does not anticipate problematic food inflation in 2021, while cautioning that month-to-month prices may be volatile. "For the whole year, we expect inflation to be at 1% to 2%, which is a pretty normal number," McMullen said on "Closing Bell." McMullen's comments come as the topic of inflation across the broader U.S. economy is in sharp focus. Wall Street has for weeks been paying close attention to the rising yield on the benchmark 10-year Treasury, which was around 1.547% on Thursday. With respect to grocery store prices, McMullen said there could be variability, especially when comparing them with 2020 levels during the early parts of the pandemic.

cnbc.com

Is higher inflation around the corner?

Is higher inflation around the corner? As the economy rebounds, the price of goods and services is starting to creep up. Could that spur the Federal Reserve to raise interest rates sooner than expected? CBS MoneyWatch contributor Anthony Mirhaydari explains.

cbsnews.com

What’s the problem with low inflation?

What’s the problem with low inflation? Although consumers tend to fear rising prices, CBS MoneyWatch contributor Anthony Mirhaydari explains why a prolonged bout of low inflation can be even more dangerous for the economy.

cbsnews.com

Is inflation a risk for 2014?

Is inflation a risk for 2014? Central banks seem more worried about deflation, but portfolio manager Jim Jubak explains why there might be different concerns for consumers.

cbsnews.com
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