the staff of the Ridgewood blog
Ridgewood NJ , Federal Reserve Chair Jerome Powell said Tuesday the “disinflationary process” in the U.S. economy has begun, and said additional rate hikes will likely be necessary to bring inflation back to its 2% target.
Continue reading Inflation: Most Americans Still Expect Grocery Prices to Keep Rising
the staff of the Ridgewood blog
Washington DC, The Federal Reserve on Wednesday raised its benchmark interest rate by a quarter percentage point and gave little indication that it is nearing the end of this hiking cycle.
the staff of the Ridgewood blog
Washington DC, the Producer Price Index for final demand declined 0.5 percent in December, seasonally adjusted, the U.S. Bureau of Labor Statistics reported today. Final demand prices advanced 0.2 percent in November and 0.4 percent in October.On an unadjusted basis, the
index for final demand increased 6.2 percent in 2022 after rising 10.0 percent in 2021.
Continue reading The Producer Price Index declined a More than Expected 0.5 Percent in December
$11,534 is the 2023 savings goal for the average New Jerseyan, finds survey.
the staff of the Ridgewood blog
Ridgewood NJ, as the new year begins, it’s usually the time we start to think about what we want to do, or achieve, over the year ahead, and make some resolutions. Perhaps it’s to lose weight, quit smoking, or even save money – but if what we want is vague, it’s less likely to happen. Indeed, studies that fewer than 25% of people actually stay committed to their resolutions after just 30 days and only 8% accomplish them.
Continue reading Survey Finds $11,534 is the 2023 savings goal for the average New Jerseyan
raising hopes for FED engineered “soft landing”
the staff of the Ridgewood blog
Washington DC, (8:33 am) the Consumer Price Index for All Urban Consumers (CPI-U) declined 0.1 percent in December on a seasonally adjusted basis, after increasing 0.1 percent in November, the U.S. Bureau of Labor Statistics reported today. Over the last 12 months, the all items index increased 6.5 percent before seasonal adjustment. The index for gasoline was by far the largest contributor to the monthly all items decrease, more than offsetting increases in shelter indexes.
Continue reading Consumer Price Index Falls 1% , Suggesting Further Deceleration in Inflation
the staff of the Ridgewood blog
Washington DC, the Board of Governors of the Federal Reserve System voted unanimously to approve a 1/2 percentage point increase in the primary credit rate to 4.5 percent, effective December 15, 2022.
Continue reading The Federal Reserve Hikes Rates a 1/2 Point
Inflation continues to slow but prices are still doubling every 10.14 years
the staff of the Ridgewood blog
Washington DC, (8:34am) the Consumer Price Index for All Urban Consumers (CPI-U) rose 0.1 percent in November on a seasonally adjusted basis, after increasing 0.4 percent in October, the U.S. Bureau of Labor Statistics reported today. Over the last 12 months, the all items index increased 7.1 percent before seasonal adjustment. The index for shelter was by far the largest contributor to the monthly all items increase, more than offsetting decreases in energy indexes. The food index increased 0.5 percent over the month with the food at home index also rising 0.5 percent.
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the staff of the Ridgewood blog
Galloway NJ, Inflation is making the holidays a bit less merry, as many in New Jersey are cutting back on gift-giving or seasonal travel, according to a Stockton University Poll released Monday.
the staff of the Ridgewood blog
Washington DC, the Producer Price Index for final demand increased 0.2 percent in October, seasonally adjusted, the U.S. Bureau of Labor Statistics reported today. Final demand prices rose 0.2 percent in September and were unchanged in August. (See table A.) On an unadjusted basis, the index for final demand advanced 8.0 percent for the 12 months ended in October.
Continue reading Wholesale Prices Rose 0.2% in October as Inflation Fears Ease
7.7% Inflation rate mean prices double every 9.3 years
the staff of the Ridgewood
Washington DC, The Consumer Price Index for All Urban Consumers (CPI-U) rose 0.4 percent in October on a seasonally adjusted basis, the same increase as in September, the U.S. Bureau of Labor Statistics reported today. Over the last 12 months, the all items index increased 7.7 percent before seasonal adjustment.
Continue reading Consumer Prices Rose 0.4% in October Inflation Eases Slightly to 7.7 percent
file photo by Boyd Loving
the staff of the Ridgewood blog
Washington NJ, The Federal Reserve’s latest interest rate hike Wednesday of 0.75 percent is expected to intensify pressure on the housing market while pushing up mortgage rates that already have reached nearly 20-year highs. Its also the fourth consecutive 0.75 percentage point increase and the sixth consecutive one this year for the Fed, a cycle not seen since the inflation-fighting days of the early 1980s.
Continue reading The Federal Reserve Hikes Rates For the Sixth Time
the staff of the Ridgewood blog
Galloway NJ, New Jersey’s voters, especially Republicans, are enthusiastic about voting in next week’s midterm elections in which the economy and inflation are seen as top issues, according to a Stockton University Poll released today.
Continue reading Liberal Stockton University Poll Finds GOP Enthusiasm High for Midterm Elections
Voters say it’s “The economy, stupid”
the staff of the Ridgewood blog
Ridgewood NJ, a week before Election Day, nearly half of voters say inflation and the economy are the most important issues for them in this year’s congressional midterms.
Continue reading Economy, Inflation Top Issues for Midterm Voters
the staff of the Ridgewood blog
Ridgewood NJ, the United States Postal Service filed notice with the Postal Regulatory Commission (PRC) of price changes to take effect Jan. 22, 2023. The new rates include a three-cent increase in the price of a First-Class Mail Forever stamp from 60 cents to 63 cents.
