Tag: Inflation

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Inflation Hits 9.1% Fastest Pace Since February 1981

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the staff of the Ridgewood blog

Washington DC, the Consumer Price Index for All Urban Consumers (CPI-U) increased 1.3 percent in June on a seasonally adjusted basis after rising 1.0 percent in May, the U.S. Bureau of Labor Statistics reported today. Over the last 12 months, the all items index increased 9.1 percent before seasonal adjustment. The increase was broad-based, with the indexes for gasoline, shelter, and food being the largest contributors.

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Digital.com Survey Shows 65 Percent of Small Businesses Will Permanently Close, if U.S. Inflation Rate Continues to Rise

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the staff of the Ridgewood blog

Ridgewood NJ, Digital.com, a leading independent review website for small business online tools, products, and services, has published findings from a new survey report examining the impact of inflation on U.S. small businesses. Research experts analyzed responses from 1,000 small business owners and co-owners with 500 or fewer employees.

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New Jerseyans among the most worried about inflation, reveals study.

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  • Analysis of online searches for gold shows New Jerseyans are trying to inflation-proof their savings.
  • Mainers are the most worried about inflation; Oregonians the least.
  • Infographic showing Google search data for gold.

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Time to Index New Jersey’s Income Tax Brackets for Inflation to Protect Working Families

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the staff of the Ridgewood blog

Trenton NJ, Republican senators called for action on their plans to save New Jersey taxpayers from suffering state income tax increases next year due to inflation after the Treasury Department estimated the cost of “tax bracket creep” at $543 million in FY 2023.

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Voters Not Buying White House Spin on Economy and Inflation

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the staff of the Ridgewood blog

Ridgewood NJ, a new poll conducted at Issues & Insights by the TIPP polling group asked 1,300 Americans who’s responsible for “causing the current inflation?”

A stunning 64% said Biden was “responsible,” choosing either “very” or “somewhat responsible” versus 25% answered “not very” or “not at all responsible.” Even 53% of Democrats say Biden is responsible for the surge in prices.

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Reduced Road trips: New Jersey Roadtrippers will travel only as far as Washington City, DC, due to soaring gas prices, find survey

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  • High gas prices and soaring inflation are reducing road trips by 227 miles.
  • New Jersey families planning road trips will travel 40% less distance on average. 
  • Infographic showing reduced road trips across the country.

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Wholesale Prices Rose at a Near Record 10.8% Annual Rate

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the staff of the Ridgewood blog

Washington DC, the Producer Price Index (Wholesale Prices) for final demand increased 0.8 percent in May, seasonally adjusted, the U.S. Bureau of Labor Statistics reported today. This rise followed advances of 0.4 percent in April and 1.6 percent in March.

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Inflation rose 8.6% in May, the highest since 1981

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the staff of the Ridgewood blog

Washington DC, the Consumer Price Index for All Urban Consumers (CPI-U) increased 1.0 percent in May on a seasonally adjusted basis after rising 0.3 percent in April, the U.S. Bureau of Labor Statistics reported today.

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Voters Far More Worried About Inflation Than Abortion Rights

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the staff of the Ridgewood blog

Ridgewood NJ, despite news reports that the Supreme Court may be ready to overturn Roe v. Wade, abortion rights haven’t displaced inflation at the top of the list of issues most concerning to voters.

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The latest Rasmussen Reports national telephone and online survey finds that 87% of Likely U.S. voters are at least somewhat concerned about inflation, including 60% who are Very Concerned. That’s barely changed since January. (To see survey question wording, click here.)

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Wholesale Inflation Surged to 11% in April as Producer Prices keep Accelerating

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the staff of the Ridgewood blog

Washington DC, the Producer Price Index for final demand increased 0.5 percent in April, seasonally adjusted, the U.S. Bureau of Labor Statistics reported today. This rise followed advances of 1.6 percent in March and 1.1 percent in February.

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Inflation Continues to Race Ahead at 8.3% in largest 12-month increase since 1981

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the staff of the Ridgewood blog

Washington DC, The Consumer Price Index for All Urban Consumers (CPI-U) increased 0.3 percent in April on a seasonally adjusted basis after rising 1.2 percent in March, the U.S. Bureau of Labor Statistics reported today. Over the last 12 months, the all items index increased 8.3 percent before seasonal adjustment. Increases in the indexes for shelter, food, airline fares, and new vehicles were the largest contributors to the seasonally adjusted all items increase.

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The Fed Wakes Up Raises its Benchmark Interest Rate by Half a Percentage Point

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the staff of the Ridgewood blog

Washington DC, on Wednesday  the Federal Reserve raised its benchmark interest rate by half a percentage point, the most aggressive step yet in its fight against a 40-year high in inflation. In remarks after the Federal Open Market Committee voted to raise its key interest rate by 50-basis points for the first time since 2000, Powell rebuffed any suggestion that a mega-sized, 75-basis point increase is on the table at future meetings. The S&P 500 rose 3% following his comments, the biggest jump since May 2020.

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Rising Costs of Living :1 in 5 Retirees Plan to go Back to Work This Year

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file photo by ArtChick

the staff of the Ridgewood blog

Ridgewood NJ, after a surge in retirement during the early months of the pandemic, the rate of retired workers returning to the job market has slowly been increasing over the past year. And as the labor shortage drags on, more opportunities have become available for those looking to come back to work, especially in a part-time capacity.

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