A measure of inflation that is closely tracked by the Federal Reserve rose 6.3% in May from a year earlier, unchanged from its level in April.
A measure of inflation closely tracked by the Federal Reserve rose 6.3% in May from a year earlier, unchanged from its level in April.from the Commerce Department provided the latest evidence that painfully high inflation is placing financial pressure American households and inflicting particular harm on low-income families and people of color.
On a month-to-month basis, prices rose 0.6% from April to May, up from a 0.2% increase from March to April. Chronically high inflation has become a leading threat to the economy and a political hazard for President Joe Biden and Democrats as midterm elections near. Seventy-nine percent of U.S. adults describe the economy as poor, according to a new survey from The Associated Press-NORC Center for Public Affairs Research. Inflation is eclipsing the healthy 3.6% unemployment rate as a focal point for Americans who are struggling with high gasoline and food prices and rising rents.
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
With Food Prices Up, a 'Bean New Deal' May Be Part of the AnswerBeans are a staple of diets across the globe. They’re rich in protein, use far less water and land than other crops, and even act as a natural fertilizer to replenish the soil they’re grown in.
Read more »
Morphine tablets recalled because dosage label may be wrong, patient may take too muchThe labels for the 30 mg tablets and 60 mg tablets may have been switched.
Read more »
Earth’s asteroid defense may work better than previously believed, new simulation showsAhead of International Asteroid Day (June 30), scientists have released new simulations that show NASA’s DART asteroid defense test could work better than previously indicated. FOX13
Read more »
Megatooth sharks may have been higher on the food chain than any ocean animal everSome megalodons and their ancestors were the ultimate apex predators, outeating all known marine animals, researchers report.
Read more »
High-profile project may be future of Great America Santa Clara landThe next development chapter for a top-notch swath of Silicon Valley land under the Great America theme park might be a game-changer for Santa Clara that’s a decade — or just a few year…
Read more »
The latest crypto crush may threaten North Korea's weapons programsNorth Korean state sponsors crypto heists to generate revenue to fund weapons development. A crypto crash makes this less attractive.
Read more »