consumer prices

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As Milk Prices Sour, Cows Head to Slaughter

Farmers can't afford to keep them

(Newser) - Hundreds of thousands of America's dairy cows are being turned into hamburgers because milk prices have dropped so low that farmers can no longer afford to feed the animals. Dairy farmers say they face a perfect storm of destructive economic forces: At home, feed prices are rising and consumers...

Fears of Deflation Spook Economists

With oil below $50 and sales everywhere, economists seek solutions

(Newser) - Lower prices may sound like a good thing, but economists say sustained deflation poses a serious threat to any turnaround, the Washington Post reports. Consumer prices are tanking on everything from clothes to steel, which feeds a cycle: People stop buying as they hold out for better sales, and stores...

Dow Falls 427 to Below 8,000
 Dow Falls 427 to Below 8,000 
MARKETS
Nov 19, 2008 3:21 PM CST

Dow Falls 427 to Below 8,000

Bad news in housing and predictions of recession sour stocks

(Newser) - Stocks plunged today on a spread of bad economic news, including signs that the housing market is not improving and dire predictions by the Federal Reserve’s interest-rate committee, the Wall Street Journal reports. The Dow fell 427.47 to close at 7,997.28. The Nasdaq lost 96.85,...

Consumer Prices Dive 1%, Biggest Drop in 61 Years

Oil's record decline leads to 1% overall drop

(Newser) - Consumer prices in the United States plunged by the largest amount in the past 61 years in October as gasoline prices dropped by a record amount. The Labor Department said today that consumer prices fell by 1% last month, the biggest one-month decline on records that go back to February...

Deflation Danger Looms as World Economy Slows

Falling prices could trigger long downward spiral

(Newser) - Fears of runaway inflation have been replaced by fears of its opposite as the world's economy starts seizing up, the New York Times reports. Economists see a potentially devastating deflation ahead as cash-strapped consumers create a glut of underpriced, unpurchased goods and services—in turn triggering mass layoffs at struggling...

Inflation Hurts US Workers; Europeans Keep Pace

But higher Europe wages drive up prices

(Newser) - Workers in the US are falling behind inflation while their counterparts in the 15-nation Eurozone are keeping pace, in part because of more powerful unions, the Wall Street Journal reports. But rising wages may damage the European economies, as they deter companies from hiring and in turn boost inflation. When...

Wholesale Prices Rising at Fastest Pace Since 1981

High energy, motor vehicle costs pushing inflation; Fed may be forced to boost rates

(Newser) - Wholesale prices jumped 1.2% in July—more than twice the rate economists expected and  the fastest pace in 27 years, according to government data released today, the AP reports. Core prices, which exclude food and energy, rose 0.7%, the biggest since November 2006; new home construction in July...

Consumer Prices Jump in July; Inflation at 17-Year High

(Newser) - US consumer prices shot up 0.8% in July, twice the expected rate, pushed higher by surging energy and food costs, the AP reports. The spike left inflation running at 5.6%, the fastest pace in 17 years, the Labor Department reported today. It marked the third straight month of...

Consumer Prices Surge Most Since '91
 Consumer Prices
 Surge Most Since '91 
Economy
Jul 16, 2008 9:35 AM CDT

Consumer Prices Surge Most Since '91

Consumer prices up 1.1%; wholesale up 1.8%.

(Newser) - Consumer prices rose a staggering 1.1% in June, Bloomberg reports. The figure far surpassed analyst estimates, and brings the year-over-year figure to 5%–the biggest surge since 1991. Core inflation, which excludes food and energy, rose a more-than-expected 0.3%. “Inflation has galloped,” one economist said. “...

Consumers Are Quickly Trading Down
Consumers
Are Quickly Trading Down
Jul 11, 2008 12:26 PM CDT

Consumers Are Quickly Trading Down

Switch to cheaper goods is broadest since early '80s

(Newser) - As fuel prices and home foreclosures steadily rise, Americans are trading down in everything from automobiles to their lunch options. That's not unusual in an economic downturn, but the speed with which it's happening is, the Wall Street Journal reports. And the flight to the affordable and generic is affecting...

Americans Reducing Mileage on Cars, Not Stomachs

Higher food prices not having diminishing effect of gas costs

(Newser) - Many Americans are cutting back on gas due to spiking prices, but few are eating less in response to similarly soaring food costs, a poll finds. Nearly half of respondents said they were driving less, but only 8% said they were eating less. "People have more control over gasoline....

Inflation News Boosts Stocks
 Inflation News Boosts Stocks  
MARKETS
May 14, 2008 3:38 PM CDT

Inflation News Boosts Stocks

Consumer-price data better than expected

(Newser) - Stocks were up today on consumer price data showing lower-than expected inflation and on declining oil prices. A Labor Department report showed the CPI rose only 0.2% in April, reports the Wall Street Journal. The Dow ended up 65.71 to 12,897.89, the Nasdaq rose 1.58...

Recession Fears Overblown: Economists

Fed's actions key strong economic reports, signs of market recovery

(Newser) - A growing number of economists are saying, cautiously, that the US might have pulled back from the brink of recession, the Wall Street Journal reports. The experts credit swift action by the Federal Reserve to lower interest rates and save Bear Stearns in March, and even the ongoing distribution of...

Europe Backtracks on Biofuels
 Europe Backtracks on Biofuels 
Apr 19, 2008 2:42 PM CDT

Europe Backtracks on Biofuels

Environmental concerns put 10% quota on hold

(Newser) - The European commission is backing off a proposed 10% biofuels quota as scientists warn that the alternative fuels actually hurt the environment, the Guardian reports. “This is all very sensitive and fast-moving,” said a commission official. “There is now a lot of new evidence on biofuels, and...

Surging Energy Prices Drive Global Inflation

Food costs, up 83% in 3 years, also slap worldwide economies

(Newser) - Inflation in Europe and the US is projected to reach its highest point since 1995, the Wall Street Journal reports, with food prices up 83% in three years and rising energy and transportation costs. The International Monetary Fund predicts the US and Europe will see inflation of 2.6% this...

Crisis Looms as Rice Prices Soar
 Crisis Looms as Rice Prices Soar
Apr 6, 2008 2:21 PM CDT

Crisis Looms as Rice Prices Soar

Countries ban exports, chastise hoarders

(Newser) - Rice feeds half the world's population, but this year there isn't enough to go around and prices have risen by 50% over the last two weeks alone. Population growth is outpacing production, and stocks are at a 30-year low after droughts decimated harvests in China and Australia. Countries are banning...

Rising Cost of Essentials Slams Poor Families

Prices of "core" items are rising twice as fast as wages

(Newser) - The rising price of essentials and sluggish growth in wages mean that inflation is hitting low- to middle-income families hardest, the Washington Post reports. Americans are paying 9.2% more for staples—groceries, gas, health care, etc.— than they did in 2006, nearly twice the pace of the growth...

Flour Is Costing a Lot of Bread
 Flour Is Costing a Lot of Bread 
Mar 16, 2008 8:46 AM CDT

Flour Is Costing a Lot of Bread

The rising cost of wheat is forcing bakers to increase their prices

(Newser) - Consumers are getting hit in the breadbasket as tight flour supplies push bakers’ costs higher, reports the Los Angeles Times. Wheat crop failures, the weak US dollar and more farmers growing corn for ethanol instead of grain have more than doubled the price of a 50-pound bag of flour to...

Consumer Prices Flat in Feb.
 Consumer Prices Flat in Feb. 
Mar 14, 2008 8:41 AM CDT

Consumer Prices Flat in Feb.

Lack of increase means Fed has an open door to a big rate cute next week

(Newser) - Consumer prices were flat for February, pleasantly surprising economists who expected a 0.2% increase, reports the Wall Street Journal. This morning’s consumer price index eases concerns that inflation is accelerating as the economy slows, and it gives the Federal Reserve more reason to float a large interest rate...

Beer and Pizza Getting Pricey
Beer and Pizza Getting Pricey
Mar 1, 2008 3:58 PM CST

Beer and Pizza Getting Pricey

Rising fuel and ingredient costs affect traditional cheap eats

(Newser) - Even cheap foods like pizza and bagels are getting pricey these days over a mix of inflationary pressures, MSNBC reports. Last year's shocking 4% food price hike was driven by more than gas prices, one analyst says: It's diesel that fuels the trucks and trains that transport goods. "It's...

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