The Commerce Department reported on Dec. 23 that the headline Personal Consumption Expenditures (PCE) price index rose by 5.7 percent in the 12 months through November. The highest level since July 1982, when PCE inflation hit 5.8 percent.
Author archives: The Epoch Times
Two-Thirds of Americans Don’t Expect Personal Finances to Improve in 2022, Most Blame Inflation: Poll
Twenty-six percent of Americans say their financial situation will get worse in 2022, and forty-two percent say their financial situation will stay about the same in 2022.
Candy Canes Now Running Out of Stock in Shortage-Hit Christmas Season
Congestion at ports and labor shortages in the trucking industry have driven peppermint-flavored candy canes out of shelves with Christmas shoppers having to content themselves with fruit-flavored alternatives.
Rivian Expanding With New Factory in Georgia
The Amazon-backed electric vehicle startup will invest $5 billion toward developing a carbon-conscious campus in Morgan and Walton Counties, located east of Atlanta.
Long Beach Breaks Through the Supply Chain Bottleneck
“Cargo aging at the port is now down 37 percent, which is a major improvement,” stated Richard F. de la Torre, community information officer of Long Beach City Development Services in a Dec. 8 email.
Surging Inflation Could See Millions of American Households Paying $3,500 in Additional Expenses This Year: Report
PWBM, a nonpartisan research-based initiative, estimates that the historic levels of inflation will require the average U.S. household to spend around $3,500 more in 2021 to achieve the same level of consumption of goods and services as in 2019 or 2020…
IMF Warns of Interest Rate Risks as Global Debt Surges to Record $226 Trillion
Loose monetary conditions combined with fiscal stimulus and pandemic-related supply-side disruptions have pushed inflation in a number of countries to multi-decade highs.
Elon Musk Announces Plan to Take CO2 out of Atmosphere and Convert It Into Rocket Fuel
Musk announced the news on Twitter and invited people to participate in the program, writing: “SpaceX is starting a program to take CO2 out of atmosphere & turn it into rocket fuel. Please join if interested.”
Prices Expected to Rise Two Times Higher Than Wages: Fed Survey
According to data from the Bureau of Labor Statistics, the Consumer Price Index increased 6.8 percent in the 12 months through November, the fastest climb in 39 years.
Retailers Urging Congress to Take Action Against Shoplifters Selling Stolen Goods Online
A coalition of major retailers called on Congress Thursday to implement stricter legislation to increase transparency on e-commerce platforms in a bid to deter criminals from being able to easily resell stolen goods online.