'...Consumer confidence, out today, is at its lowest reading in 4 months. Confidence stands at 104.7 today compared to 104.8 in February. This signals a pessimistic shift in voter perceptions of the economy. Unlike other economic statistics, this index cuts straight to how people really feel. ...'
'The national average has rates up more than 20% in the last 12 months, ...He is hopeful this trend won’t continue as supply chains have improved.
“An insurance company would pay for a rental car for someone for two to three days and now we can’t get that part in for four to five weeks so insurance companies are paying for rentals that much longer,” he said.'
'Tuesday’s report from the Labor Department said the consumer price index rose just 0.1% from October to November. ...core prices, which exclude volatile food and energy costs, rose 0.3% from October to November, slightly faster than the 0.2% increase the previous month. Measured from a year ago, core prices rose 4%, the same as in October. The Federal Reserve considers core prices to be a better guide to the future path of inflation. ...'
'...virtually every aspect of the U.S. economy has been impacted by the inflation. The price of milk has increased 17 percent. Egg prices have risen 42 percent. Energy service prices have increased more than 11 percent. ...Kelley Blue Book reported in October that the average price of a new car has increased by $5,000 since the end of 2020. ...worst of all is the increase in the cost of new homes. nearly $70,000 more. ...The Biden administration and Democrat-controlled Congress are causing America to slowly but certainly commit economic suicide. '
'United Auto Workers President Shawn Fain said he’s unmoved by an offer of a 21% pay raise from Stellantis NV as the strike against the Big Three US automakers entered its third full day. “It’s definitely a no-go,” Fain said Sunday on CBS’s Face the Nation. “We’ve made that very clear.”...'
'... Most union employees will get 14.5% and no lump sums, Juneteenth will be a paid corporate holiday, Most union employees will get inflation protection payments: $6,000 one-time inflation protection in first year of contract $4,500 inflation protection payments over final 3 years of the contract, Supplemental employees:Wage increase from starting rate of $15.78/hour to $20/hour (a $4.22/hour increase), Wage increase from starting rate of $15.78/hour to $20/hour (a $4.22/hour increase), In-progression employees:Accelerate progression timeline from eight years to six years, potentially reducing the time that employees can reach the max wage rate by 25%, ...'
'Research has found that the sharp decline in domestic production from US shale wells is worse than the industry expected. This is forcing companies to bolster their workload to prevent output from slowing and develop new strategies to maximize already expensive drilling opportunities due to federal and state red tape. ...the government preventing more supply from coming to market through intense regulatory costs, consumers and businesses pay higher prices. West Texas Intermediate (WTI) has surged 12% over the last three months, trading above $80 a barrel on the New York Mercantile Exchange. Brent, the international benchmark for oil prices, has risen more than 11% since May to above $84 per barrel on London’s ICE Futures exchange. With oil accounting for about half of the cost of a gallon of gasoline, motorists are paying more at the pump this year. So far in 2023, the national average for a gallon of gas is up 20% and approaching $4. Perhaps the current regime in Washington will only be satisfied when the US outsources all of its energy needs overseas or depends on unreliable windmills that are killing whales....'
'Inflation is projected to have risen in the first month of the year, defying optimism from investors and officials over a steady move lower seen in recent readings. While the monthly CPI figure likely rose in January, the annual headline number is projected to come down to 6.2% from 6.5% the prior month, according to consensus estimates compiled by Bloomberg. The Bureau of Labor Statistics' January Consumer Price Index (CPI) is scheduled for release at 8:30 a.m. ET on Tuesday. ...'
'...Inflation is soaring, and voters blame President Biden. A Morning Consult poll in late October showed 62 percent of registered voters believe Biden’s policies are to blame for rising prices on everything from turkeys to gasoline to apartment rents. Guess what? They should. ...'
