Light Rain Fog/Mist 44°
Tag:

Inflation

News
Clothing Under $110 Now Exempt From Sales Tax In NY's Putnam County: Here's How Long Clothing Under $110 Now Exempt From Sales Tax In NY's Putnam County: Here's How Long
Clothing Under $110 Now Exempt From Sales Tax In NY's Putnam County: Here's How Long Those who purchase any clothing or footwear cheaper than $110 in one Hudson Valley county will not have to pay sales tax thanks to a new piece of legislation.  Effective on Friday, March 1, clothing and footwear under $110 purchased in Putnam County will be exempt from sales tax for two years, officials announced.  The exemption comes thanks to a piece of legislation signed into law by Putnam County Executive Kevin Byrne in 2023. The legislation was passed unanimously by the County Legislature in November as part of a series of initiatives in the 2024 County Budget. …

SHARE

by Ben Crnic
Business
Fairfield County Commercial Market Ends Year On 'Generally' Positive Note, Report Says Fairfield County Commercial Market Ends Year On 'Generally' Positive Note, Report Says
Fairfield County Commercial Market Ends Year On 'Generally' Positive Note, Report Says A new report shows that the Fairfield County commercial market ended the year in a good place. Bolstered by the Greenwich office and retail markets, the Fairfield County commercial market completed 2023 on "a generally positive note," according to the Houlihan Lawrence Fairfield Commercial Market report released on Tuesday, Feb. 6. According to the report, Greenwich retail rental rates ended 2023 at the best levels ever seen in late Spring. Greenwich office occupancy and lease rates remained remarkably stable over the second half of 2023.  However, the greater…

SHARE

by Kathy Reakes
Lifestyle
'McFlation': $7 Egg McMuffin At Fairfield McDonald's Sparks Outrage 'McFlation': $7 Egg McMuffin At Fairfield McDonald's Sparks Outrage
'McFlation': $7 Egg McMuffin At Fairfield McDonald's Sparks Outrage A pricey breakfast sandwich purchased at a Connecticut McDonald’s is sparking outrage on social media. The Fairfield County breakfast order, which was shared by Bespoke Investment Group on X, was placed on Saturday, Jan. 27 just off of I-95 in the town of Fairfield, according to the posted picture of the receipt. “What has the world come to??” the user asked, showing that the receipt included two Egg McMuffins, costing a total of $14.58 — or $7.29 each — and a bacon, egg, and cheese McGriddle for another $7.19. “Outrageous pricing,” Bespoke wrote. $7.29 for one McDonald’s Egg McMuf…

SHARE

by Sophie Grieser
News
32 Percent Of CT Households Report Skipping Necessities To Afford Energy Bill, Study Says 32 Percent Of CT Households Report Skipping Necessities To Afford Energy Bill, Study Says
32 Percent Of CT Households Report Skipping Necessities To Afford Energy Bill, Study Says A newly-released study has detailed the percentage of Connecticut households that reported skipping out on purchasing necessities such as food and medicine to afford their energy bills. LendingTree, an online loan marketplace, published a report on Monday, Oct. 31, saying 32 percent of Connecticut households reported forgoing or reducing buying necessities to pay an energy bill in the past 12 months amid inflation. The website reported that it used the United States Census Bureau Household Pulse Survey for the analysis. LendingTree also reported that 28.7 percent of households in Conn…

SHARE

by Nicole Valinote
Politics
Hochul Elected To First Full Term As NY Governor, Defeats Trump-Backed Zeldin Hochul Elected To First Full Term As NY Governor, Defeats Trump-Backed Zeldin
Hochul Elected To First Full Term As NY Governor, Defeats Trump-Backed Zeldin This story has been updated. New York’s Democratic incumbent Gov. Kathy Hochul has been elected to her first full term in office, fending off her Republican challenger, Long Island Rep. Lee Zeldin, NBC News projects. Hochul is leading Zeldin, who represents the state’s 1st Congressional District covering much of Suffolk County, by five percentage points, 52.7 to 47.3 percent, as of 6 a.m. Wednesday, Nov. 9, with 93 percent of the vote counted. "I'm deeply honored to be elected Governor of the State of New York," Hochul posted on Twitter shortly after the race was called. BREAKING: I’m…

SHARE

by Michael Mashburn
Lifestyle
New Report Reveals Percentage Of Americans Living Paycheck To Paycheck New Report Reveals Percentage Of Americans Living Paycheck To Paycheck
New Report Reveals Percentage Of Americans Living Paycheck To Paycheck Many Americans are living paycheck to paycheck as inflation continues to impact their finances, according to a new report.  PYMNTS and LendingClub published their September 2022 report on inflation and the United States paycheck-to-paycheck landscape. Researchers found that 60 percent of consumers reported that inflation has impacted how they manage their finances. The report also found that 60 percent of US consumers are living paycheck to paycheck as of August, an increase from 57 percent in September of 2021. According to the report, 45 percent of consumers who are earni…

SHARE

by Nicole Valinote
Business
Concerns Increase As US Baby Formula Shortage Worsens Concerns Increase As US Baby Formula Shortage Worsens
Concerns Increase As US Baby Formula Shortage Worsens The months-long baby formula shortage that has plagued parents and retailers across the country is getting worse, according to reports. In the first half of 2021, the out-of-stock baby formula hovered below 10 percent in the first half of 2021, according to Datasembly, though that number has jumped above 30 percent between November 2021 and April 2022. According to reports, that rate has increased above 40 percent in certain states, with some completely selling out of formula during the week of Sunday, April 24. Original story - Parents, Retailers Deal With National Baby Formula Shortag…

SHARE

by Zak Failla
Business
Discount Supermarket CEO Makes ‘Price Promise’ Pledge As Inflation Rate Soars Discount Supermarket CEO Makes ‘Price Promise’ Pledge As Inflation Rate Soars
Discount Supermarket CEO Makes ‘Price Promise’ Pledge As Inflation Rate Soars With inflation skyrocketing across the country, causing the price of food and other merchandise to surge, one supermarket head vowed to keep a tight rein on costs for customers. Aldi US CEO Jason Hart penned a “price promise” letter to consumers this week making a pledge to keep costs down at the discount supermarket chain. Aldi CEO Jason Hart.Aldi “Saving you money is what we do best,” he wrote. “And in times like these, I’m incredibly proud to underscore this commitment to you: no matter what happens in the world around us, Aldi will always be the low-price leader in every community w…

SHARE

by Zak Failla
Business
Increases In Cost Of Eggs, Meat Linked To Bird Flu Increases In Cost Of Eggs, Meat Linked To Bird Flu
Increases In Cost Of Eggs, Meat Linked To Bird Flu With the avian flu detected in nearly half the states across the country, it has posed an unexpected price hike for consumers looking to purchase poultry, eggs, and other produce in advance of the spring holidays. Earlier this year, upwards of 25 states announced a rise in positive cases of a dangerous, easily-transmissible strain of avian flu. According to reports, the outbreak of bird flu has led to an unexpected rise in grocery bills, specifically on the price of meat and eggs, which have doubled in some states over the past several months since the flu was first recorded. The price hi…

SHARE

by Zak Failla
Business
Amazon Adds New 'Fuel, Inflation' Surcharge To Seller Fees For Prime Shipments Amazon Adds New 'Fuel, Inflation' Surcharge To Seller Fees For Prime Shipments
Amazon Adds New 'Fuel, Inflation' Surcharge To Seller Fees For Prime Shipments A new "fuel and inflation surcharge" on third-party sellers who ship through Amazon will be added by the e-commerce giant. The five-percent increase will take effect on Thursday, April 28, and will include products purchased before that date. The surcharge could apparently increase or decrease in the future. "In 2022, we expected a return to normalcy as COVID-19 restrictions around the world eased, but fuel and inflation have presented further challenges," Amazon stated in a memo to sellers obtained by NPR. "It is still unclear if these inflationary costs will go up or down, or f…

SHARE

by Joe Lombardi
Business
Inflation Plus War Equals Uncertainty For New York Consumers, New Poll Reveals Inflation Plus War Equals Uncertainty For New York Consumers, New Poll Reveals
Inflation Plus War Equals Uncertainty For New York Consumers, New Poll Reveals There is growing uncertainty among New Yorkers as the Ukraine conflict rages on and inflation continues to rise, according to a newly released Siena College poll. Pollsters said that the New York State Index of Consumer Sentiment has dipped to 68 percent, down more than five points from the last poll in the fourth quarter of 2021. The poll found that the sentiment for the first quarter of 2022 found that metro New York had a more optimistic outlook, with more than 73 percent expressing a positive sentiment versus upstate New York, which fell under 61 percent. Officials noted that New York…

SHARE

by Zak Failla
Business
Amazon Hikes Price Of Prime Membership Amazon Hikes Price Of Prime Membership
Amazon Hikes Price Of Prime Membership Even the world’s largest companies are not immune to inflation. Despite posting record profits, Amazon announced that it will be hiking up prices for its Prime membership, which will rise from $119 to $139 annually or from $12.99 to $14.99 monthly. It marks the first price increase for Prime members since 2018. Current Prime members will see the increase as of Friday, March 25, while new members will start paying the new price as of Friday, Feb. 18. The move comes after Amazon’s revenue rose to a record $137.4 billion in the fourth quarter of 2021, of which $14.3 billion was profit, repr…

SHARE

by Zak Failla
Politics
Lamont Proposes Series Of Tax Cuts For CT Residents Lamont Proposes Series Of Tax Cuts For CT Residents
Lamont Proposes Series Of Tax Cuts For CT Residents Connecticut Gov. Ned Lamont unveiled his first package of legislative proposals for the 2022 regular session, including a series of tax cuts to provide relief for residents. With the state projected to be operating on a near $1.5 billion surplus, the Democratic governor announced his first package of proposals, which includes $336 million in tax cuts if approved. “The governor said that he is proposing the tax cut package as the state is projecting an operating surplus of $1.48 billion, which will enable a significant reduction in the one-time revenues built into the enacted budget and will…

SHARE

by Zak Failla
Business
Proctor & Gamble Plans Price Hikes For These Products Proctor & Gamble Plans Price Hikes For These Products
Proctor & Gamble Plans Price Hikes For These Products Proctor & Gamble plans to raise prices on some of its products, according to a new report. CNBC reported last week that the company has announced plans to raise prices on fabric care products, such as Tide detergent, and certain personal health care products. The rise in prices of fabric care products is set to take effect on Monday, Feb. 28, and the rise in prices for personal health care products will take place in April, CNBC reported. The news outlet said P&G has already raised prices across 10 other product categories. CNBC said the decision was made as inflation rates increa…

SHARE

by Nicole Valinote
Politics
Look Who's Back: Bob Stefanowski Announces New Run For Governor Look Who's Back: Bob Stefanowski Announces New Run For Governor
Look Who's Back: Bob Stefanowski Announces New Run For Governor If at first, you don’t succeed… Republican businessman Bob Stefanowski, who ran and lost to Connecticut Gov. Ned Lamont in 2018, announced that he is taking a second shot at the office with an initial investment of $10 million straight into his campaign. “Connecticut has some of the most honest, hard-working people in the country.  But we are being short-changed by leaders prioritizing politics over people,” he announced. “Over the past three years, our state has become less affordable and more dangerous for the good people who live, work, and go to school here.” Stefanowski specifically …

SHARE

by Zak Failla
Business
Dollar Tree Announces First Permanent Price Increase In Decades Dollar Tree Announces First Permanent Price Increase In Decades
Dollar Tree Announces First Permanent Price Increase In Decades Dollar and a Quarter Tree? For the first time in more than three decades, Dollar Tree announced that it will be increasing the prices for most of its items up to $1.25 as the country contends with surging inflation rates. In recent years, dollar stores have been veering away from that moniker, with many upping prices to as much as $3 or $5 for some items. The new prices are expected to be rolled out to each of the company's 8,000 stores by early 2022 after the company tested higher-priced items for months, to which officials said there was a “positive customer reaction,” after attempting…

SHARE

by Zak Failla
Lifestyle
On The Table For Thanksgiving: Higher Prices, Fewer Options Due To Supply-Chain Issues On The Table For Thanksgiving: Higher Prices, Fewer Options Due To Supply-Chain Issues
On The Table For Thanksgiving: Higher Prices, Fewer Options Due To Supply-Chain Issues The COVID-19 related supply chain issues and price increases are continuing to impact consumers across the United States ahead of the holidays.  The Seattle Times reported that many are having to spend more in preparation for Thanksgiving Day on Thursday, Nov. 25, as the prices of many products have increased.  The news outlet said supply chain issues including transportation expenses, bad weather and labor shortages have all factored into the ballooning prices, along with inflation.  According to a report from Texas A&M Today, AgriLife Extension livestock economist Davi…

SHARE

by Nicole Valinote
Business
COVID-19: Some Popular Household Items Will Soon Cost More Due To Supply Issues COVID-19: Some Popular Household Items Will Soon Cost More Due To Supply Issues
Covid-19: Some Popular Household Items Will Soon Cost More Due To Supply Issues Some prominent household items are going to cost consumers more as companies prepare for potential strains on supplies due to a potential second COVID-19 wave. Proctor & Gamble became the latest company to announce that it plans to hike prices between 4 percent and 9 percent on items that include baby products, adult diapers, and feminine care brands beginning in September. Other items, such as Tide laundry detergent and Charmin toilet paper, may also become more expensive, depending on how the country rebounds from the latest surge of the virus. According to Proctor & Gamble CEO J…

SHARE

by Zak Failla