Inflation

Last night, Democrats in the U.S. Sentate reached an agreement giving them the votes necessary to approve the Inflation Reduction Act of 2022. NBC10’s Lauren Mayk breaks down the compromise and how you might feel the impact.

Congress is weighing legislation called the Inflation Reduction Act of 2022 to try to offset the effects of this year’s steep rise in inflation. NBC10 reporter Lauren Mayk spoke with Kent Smetters of the Penn Wharton Budget Model about whether the bill would meet its purpose.

This back-to-school shopping season, parents are focusing on the basics while also trading down to cheaper stores as surging inflation takes a toll on their household budgets.

Rising costs for goods and services, as well as a rollback of pandemic benefits, are leading to more food insecurity, says the executive director of Camden’s Cathedral Kitchen.

After the Commerce Department reported the second straight quarter of GDP decline, President Joe Biden spoke Thursday to tout the strong job market and deflect rumors of an impending recession. “That doesn’t sound like a recession to me.”

President Joe Biden urged lawmakers Thursday to pass the Inflation Reduction Act of 2022, a bill which would offer inflation relief and invest in energy security and climate change programs.

President Joe Biden’s initial effort to rebuild America’s public infrastructure and family support systems had a price tag of $4 trillion. And it stalled in Congress. A much slimmer but still substantial compromise package costing $739 billion is now being considered by lawmakers. With strategies aimed at inflation-fighting health care, climate change and deficit reduction, the new measure appears headed...

While consumers are feeling the pain of inflation in their wallets, food trucks are being hit twice as hard. Telemundo62’s Valeria Aponte Feliciano has more on how the increased price of gas and food are affecting local food trucks.

The Federal Reserve announced Wednesday that they have raised the benchmark interest rate by 0.75% to curb high inflation.

The Fed’s move will raise its key rate, which affects many consumer and business loans, to a range of 2.25% to 2.5%, its highest level since 2018.

The surge in food prices comes after state governments ended COVID-19 disaster declarations that temporarily allowed increased benefits under SNAP, the federal food stamp program covering some 40 million Americans.

Inflation in the United States has consumers stretching their work and their money as far as it can go. NBC10’s Lauren Mayk has more from a White House official on what the Biden administration is doing to help ease increased prices.

Consumer prices saw the biggest 12-month increase since 1981.

Surging prices for gas, food and rent catapulted U.S. inflation to a new four-decade peak in June, further pressuring households and likely sealing the case for another large interest rate hike by the Federal Reserve

Retailers, in-person and online, are increasingly rejecting returns but still refunding people the money for their items. NBC10’s Keith Jones explores what’s behind the phenomenon.

Price jumps at the grocery store have been impacting shoppers nationwide. NBC10’s Erin Coleman has more on the increased prices, and some tips on how to save in the future.

The cost of some Independence Day staples like hamburgers, hotdogs and fireworks are up 20 to 40 percent over last year

Car insurance premiums are up 4.5% from last year, and they could continue to increase. Tracy Davidson and the NBC10 Responds team have more on why they’re increasing, and what you can do to save.

As food costs and fuel bills soar, inflation is plundering people’s wallets, sparking a wave of protests and workers’ strikes around the world.

Federal Reserve Chairman Jerome Powell spoke on Thursday about the continuing effort to fight inflation.