Tag:

Inflation

Retail Spending Slips As Inflation Climbs In January, Adding To Economic Concerns Retail Spending Slips As Inflation Climbs In January, Adding To Economic Concerns
Retail Spending Slips As Inflation Climbs In January, Adding To Economic Concerns After a solid holiday season, US retail sales took a surprising step back to start 2025, snapping a streak of growth and fueling worries about the economy. Retail and food services sales fell 0.9 percent in January, according to Census Bureau data released on Friday, Feb. 14. The decline reversed the trend from December 2024's revised increase of 0.7 percent, signaling that consumers may be feeling the squeeze from rising prices. Economists had predicted only a slight decline, with Dow Jones estimating a 0.2 percent drop, NBC News reported. The sales totals were seasonally adjusted but…
Denny's Closing 30 More Restaurants Than Planned: Here's Why Denny's Closing 30 More Restaurants Than Planned: Here's Why
Denny's Closing 30 More Restaurants Than Planned: Here's Why Denny's will close 30 more restaurants than expected, as the diner chain accelerates its efforts to shutter underperforming locations. Denny's will shut down between 70 and 90 restaurants in 2025, the company said in a news release and earnings call on Wednesday, Feb. 12. The chain closed 88 restaurants in 2024, bringing the total to nearly 180 closings expected by the end of 2025. While Denny's hasn't revealed which restaurants are on the closing list, the already shuttered locations were open for an average of 30 years. "In any mature brand, when restaurants have been opened that lo…
Inflation Climbs To Start 2025, Fueled By Dramatic Egg Price Jump, Fears Over Trump Policies Inflation Climbs To Start 2025, Fueled By Dramatic Egg Price Jump, Fears Over Trump Policies
Inflation Climbs To Start 2025, Fueled By Dramatic Egg Price Jump, Fears Over Trump Policies Inflation unexpectedly accelerated in the first month of 2025, adding political and economic pressure to President Donald Trump's campaign promise of immediate relief to high consumer prices. In January, overall inflation climbed 3.3 percent year-over-year for core items and 0.5 percent monthly, according to data from the Bureau of Labor Statistics released on Wednesday, Feb. 12. That ran slightly ahead of economists' prediction of 3.2 percent inflation, NBC News reported. Core items exclude notably volatile prices for food and energy. The Consumer Price Index (CPI) still inc…
Popular Restaurant Chain To Place Surcharge On Each Egg Sold: Here's How Much Popular Restaurant Chain To Place Surcharge On Each Egg Sold: Here's How Much
Popular Restaurant Chain To Place Surcharge On Each Egg Sold: Here's How Much A well-known restaurant chain is making a change that may leave customers scrambling. Regulars stopping in for their usual orders at Waffle House will soon notice a small but significant addition to their bill. Waffle House, known for its affordable, around-the-clock breakfast offerings, is implementing a 50-cent surcharge per egg due to skyrocketing egg prices caused by an ongoing avian influenza outbreak.  The surcharge, which applies to all egg-based menu items, is what it calls a temporary measure as the chain navigates higher costs. “Customers and restaurants are being…
Supermarkets Running Out Of Eggs As Anger, Frustration Among Americans Mounts Supermarkets Running Out Of Eggs As Anger, Frustration Among Americans Mounts
Supermarkets Running Out Of Eggs As Anger, Frustration Among Americans Mounts Egg shortages driven by a devastating outbreak of avian influenza, commonly known as bird flu, have now resulted in some supermarkets running out of this beloved staple. In various grocery stores across the country, customers have encountered shelves with limited or no egg cartons available.  Customers who do find cartons available are getting sticker shock, with a dozen eggs priced as high as $15 at some stores. Some supermarkets have started setting limits on the number of cartons that may be purchased. According to data from the Bureau of Labor Statistics, the average price of a d…
Canadian Hockey Fans Boo US National Anthem After Tariffs Ordered Canadian Hockey Fans Boo US National Anthem After Tariffs Ordered
Canadian Hockey Fans Boo US National Anthem After Tariffs Ordered In a striking display of discontent, Canadian hockey fans booed the US national anthem during NHL games, expressing their displeasure hours after President Donald Trump's newly imposed tariffs on Canadian goods went into effect on Saturday, Feb. 1.  This reaction underscores the growing tension between the two neighboring countries. At the Ottawa Senators game against the visiting Minnesota Wild, fans jeered during "The Star-Spangled Banner," signaling their frustration with the US administration's trade policies.  Similarly, in Calgary, spectators at a Flames game against the De…
Fed Pauses Interest Rate Cuts Despite Trump's Push For Immediate Reduction Fed Pauses Interest Rate Cuts Despite Trump's Push For Immediate Reduction
Fed Pauses Interest Rate Cuts Despite Trump's Push For Immediate Reduction The Federal Reserve kept its key interest rate in place, pausing further cuts and ignoring a demand by President Donald Trump to immediately drop rates. After three months of reductions, the Fed decided to keep the key interest rate target at 4.25 to 4.5 percent. The Fed announced the decision on Wednesday, Jan. 29, after its first meeting since President Trump returned to the White House. Chair Jerome Powell said the Fed is monitoring inflation and economic stability under the Trump administration. "We remain committed to supporting maximum employment, bringing inflation sustain…
Record-High Egg Prices Likely To See New Increases: What To Know Record-High Egg Prices Likely To See New Increases: What To Know
Record-High Egg Prices Likely To See New Increases: What To Know Across the country, grocery shoppers are facing sticker shock and empty shelves as egg prices continue to skyrocket.  Once an affordable staple, eggs have become increasingly expension -- and sometimes, even difficult to find — and the situation is only expected to worsen. The surge in egg prices is being driven by a combination of inflation and a devastating outbreak of avian influenza, better known as bird flu. The H5N1 virus, which made its way to the United States in 2022, has infected or killed millions of birds and infected many other animals In just the last three months, more…
Store Closings Surge To Highest Level Since Pandemic: Why 2025 Could Be Worse Store Closings Surge To Highest Level Since Pandemic: Why 2025 Could Be Worse
Store Closings Surge To Highest Level Since Pandemic: Why 2025 Could Be Worse Retail store closures surged in 2024, reaching their highest levels since the start of the pandemic, a new study said. A total of 7,325 U.S. stores closed in 2024, driven by inflation and an increasing shift toward online shopping, according to retail data firm Coresight Research. The closings marked the steepest decline in brick-and-mortar retail since nearly 10,000 stores closed in 2020. While 5,970 stores opened—the highest yearly number since 2012—closures outpaced openings by a net loss of 1,355 stores.  "Retailers that were unable to adapt supply chains and implement t…
Rise In Food Prices Goes Beyond Eggs: Here’s Rundown Rise In Food Prices Goes Beyond Eggs: Here’s Rundown
Rise In Food Prices Goes Beyond Eggs: Here’s Rundown Eggs are not the only food product seeing a sharp increase in prices. December grocery prices were nearly 28 percent higher than five years ago, reflecting how much harder families are finding it to manage their everyday expenses, The Wall Street Journal reports.  According to Labor Department data, grocery prices surged 1.8 percent year-over-year in December, marking the fastest increase in over a year, The trend started just after the COVID-19 pandemic began in 2019, mainly due to pandemic-related supply chain issues. According to a Trace One analysis of US Bureau of Labo…
Why Are Americans Dining Out Less? A Closer Look At Changing Habits Why Are Americans Dining Out Less? A Closer Look At Changing Habits
Why Are Americans Dining Out Less? A Closer Look At Changing Habits Rising costs and shifting priorities are reshaping how Americans approach dining out.  Reports reveal a notable decline in restaurant visits, particularly among middle-class families and younger generations. Here are key factor driving the decline: Rising Menu Prices: Inflation has notably driven up the cost of dining out significantly. According to Yahoo Finance’s “6 Reasons the Middle Class Can’t Afford To Dine Out Anymore,” soaring food prices have left many consumers rethinking their restaurant habits. Economic Pressures: Broader inflationary trends are squeezing househo…
Big Lots Reaches Deal To Keep Hundreds Of Stores Open Big Lots Reaches Deal To Keep Hundreds Of Stores Open
Big Lots Reaches Deal To Keep Hundreds Of Stores Open Big Lots has announced a major development following its September bankruptcy filing. The discount retail chain says it's entered a strategic agreement with Gordon Brothers Retail Partners and Variety Wholesalers to preserve the brand, save thousands of jobs, and keep hundreds of stores open. Variety Wholesalers, known for its portfolio of retail brands, plans to acquire between 200 and 400 Big Lots locations, along with up to two distribution centers. There are about 1,400 Big Lots stores nationwide. The transition ensures Big Lots can transfer key assets and maintain continuity of its br…
Minimum Wage To Increase In Westchester: Here’s How Much Minimum Wage To Increase In Westchester: Here’s How Much
Minimum Wage To Increase In Westchester: Here’s How Much New Yorkers earning minimum wage will see an increase in their paychecks.  This change, which takes effective on Wednesday, Jan. 1, is part of a broader state initiative aimed at easing the financial burden of rising living costs. Gov. Kathy Hochul announced the plan as part of a multi-year agreement with the state legislature.  In New York City, Long Island, and Westchester County, the hourly pay will increase from $16 to $16.50.  Meanwhile, the rest of the state will see a jump from $15 to $15.50.  Further annual adjustments linked to inflation will begin in 2027. …
Shoplifting Costs Retailers Billions: These Are Most Frequently Stolen Items Shoplifting Costs Retailers Billions: These Are Most Frequently Stolen Items
Shoplifting Costs Retailers Billions: These Are Most Frequently Stolen Items Shoplifting in the US is a costly epidemic, with retailers losing over $120 billion last year. The trend focuses on easily concealed, high-demand products at major retailers like Walmart and Target, posing a nationwide challenge for store owners and law enforcement. Electronics, health and beauty products, and food items are among the most commonly stolen goods, Capital One Shopping reports.  Small gadgets such as headphones and phone chargers, alongside over-the-counter medications and cosmetics, are frequent targets.  Alcohol, baby formula, and packaged meats are also popular …
How Does $500 'Inflation Refund' Check Sound? Here's Who Qualifies Under Hochul's Proposal How Does $500 'Inflation Refund' Check Sound? Here's Who Qualifies Under Hochul's Proposal
How Does $500 'Inflation Refund' Check Sound? Here's Who Qualifies Under Hochul's Proposal New Yorkers could soon see some relief from rising costs. Around 8.6 million taxpayers statewide could stand to benefit from a historic $3 billion in “inflation refund” checks that were proposed by Gov. Kathy Hochul during a speech in the Bronx on Monday, Dec. 9. If approved by lawmakers, the initiative would deliver $300 checks to single taxpayers earning up to $150,000 annually and $500 to joint filers with incomes up to $300,000. The refunds would be funded by surplus sales tax revenue generated during the recent period of high inflations. Hochul said the one-time payments would provide…
Popular Fast Casual Dining Chain Files For Bankruptcy Popular Fast Casual Dining Chain Files For Bankruptcy
Popular Fast Casual Dining Chain Files For Bankruptcy A popular fast casual dining chain has filed for bankruptcy after months of reporting financial distress. BurgerFi International, Inc., announced the Chapter 11 filing on Wednesday, Sept. 11. The Florida-based company is also the parent company of Anthony’s Coal Fired Pizza. All 144 locations of the two brands across the the nation will remain open and continue normal operations. BurgerFi makes up 93 of the eateries, and Anthony's the other 51. The Chapter 11 filing includes the 67 corporate-owned locations of both brands. "BurgerFi and Anthony's Coal Fired Pizza & Wings are dyn…
Big Lots To Close Pair Of NY Stores Big Lots To Close Pair Of NY Stores
Big Lots To Close Pair Of NY Stores Discount retail chain Big Lots plans to close around 40 stores this year, according to a filing with the Securities & Exchange Commission (SEC). It currently has around 1,425 stores nationwide. Six stores in New York, Connecticut, and Massachusetts are slated to close, with both New York stores on Long Island. No store closures are scheduled for New Jersey. The company cited rising costs and inflation as reasons for the move and said a bankruptcy filing could be coming. Stores in the Northeast slated for closure are as follows: New York 260 Voice Road, Carle Place 231 Centere…
Clothing Under $110 Now Exempt From Sales Tax In This Hudson Valley County: Here's How Long Clothing Under $110 Now Exempt From Sales Tax In This Hudson Valley County: Here's How Long
Clothing Under $110 Now Exempt From Sales Tax In This Hudson Valley 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. …
'McFlation': $7 Egg McMuffin At McDonald's In Region Sparks Outrage 'McFlation': $7 Egg McMuffin At McDonald's In Region Sparks Outrage
'McFlation': $7 Egg McMuffin At McDonald's In Region 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…
Minimum Wage Increase In Westchester: Here's How Much It Will Rise As New Year Begins Minimum Wage Increase In Westchester: Here's How Much It Will Rise As New Year Begins
Minimum Wage Increase In Westchester: Here's How Much It Will Rise As New Year Begins As the New Year draws closer, New York Gov. Kathy Hochul is reminding residents that the state's minimum wage will increase as soon as the ball drops.  Beginning on Monday, Jan. 1, the minimum wage in New York City, Westchester County, and Long Island will go up to $ 16 per hour, and $15 per hour for the rest of the state, Hochul reminded residents on Wednesday, Dec. 27.  Earlier Report - Minimum Wage To Go Up In New York: Here's When, How Much Additionally, the minimum wage for home care aides will increase to $18.55 per hour in New York City, Westchester, and Lon…
Minimum Wage Increase In Westchester: Here's How Much It Will Rise As New Year Begins Minimum Wage Increase In Westchester: Here's How Much It Will Rise As New Year Begins
Minimum Wage Increase In Westchester: Here's How Much It Will Rise As New Year Begins As the New Year draws closer, New York Gov. Kathy Hochul is reminding residents that the state's minimum wage will increase as soon as the ball drops.  Beginning on Monday, Jan. 1, the minimum wage in New York City, Westchester County, and Long Island will go up to $ 16 per hour, and $15 per hour for the rest of the state, Hochul reminded residents on Wednesday, Dec. 27.  Earlier Report - Minimum Wage To Go Up In New York: Here's When, How Much Additionally, the minimum wage for home care aides will increase to $18.55 per hour in New York City, Westchester, and Lon…
Minimum Wage To Go Up In Westchester: Here's When, How Much Minimum Wage To Go Up In Westchester: Here's When, How Much
Minimum Wage To Go Up In Westchester: Here's When, How Much To help those struggling with rising costs, New York Gov. Kathy Hochul has announced that the state's minimum wage will be increasing when the new year begins.  Effective on Monday, Jan. 1, the minimum wage in Westchester County, Long Island, and New York City will increase to $16 per hour, and $15 per hour in the rest of the state, Hochul announced on Monday, Dec. 11.  The current minimum wage in Westchester, Long Island, and New York City is $15 per hour, while it is $14.20 in the rest of the state.  According to Hochul, the increases come thanks to an agreement between he…
Despite Rave Reviews, Father/Daughter Westchester Restaurant Struggling In 'Difficult Economy' Despite Rave Reviews, Father/Daughter Westchester Restaurant Struggling In 'Difficult Economy'
Despite Rave Reviews, Father/Daughter Westchester Restaurant Struggling In 'Difficult Economy' Although a Westchester County restaurant specializing in cheesesteaks has received much praise since opening, the owners say that they are still struggling because of inflation.  Earlier Report - Newly Opened Father/Daughter Westchester Restaurant Specializes In Cheesesteaks Crotty's Cheesesteaks, located in New Rochelle at 8 Eastchester Rd., was opened in January 2021 by father and daughter Joe Crotty and Lindsay Walsh. In addition to a wide variety of cheesesteaks with vegetarian & gluten-free options, the restaurant also serves salads and "delicious extras" such as fried pickles, ac…
Here's How Much Tappan Zee Bridge Toll Could Increase If NY Thruway Proposal Takes Effect Here's How Much Tappan Zee Bridge Toll Could Increase If NY Thruway Proposal Takes Effect
Here's How Much Tappan Zee Bridge Toll Could Increase If NY Thruway Proposal Takes Effect It could soon cost more to drive on the New York State Thruway, and that includes the Tappan Zee Bridge. The New York State Thruway Authority's (NYSTA) board of directors will meet Monday, Dec. 5, to consider a proposed toll hike that would begin in 2024, WIVB in Buffalo reports.  Tolls would increase by 5 percent for E-ZPass customers in 2024 and 5 percent again in 2027, according to the outlet.  Those with out-of-state E-ZPasses or who are paying by mail would pay 75 percent more than the tolls for New York E-ZPass holders. That’s up considerably compared to the current 15 percent dif…
Historic: House Democrats Elect NY Rep. As Leader, First Black Person To Head Party In Congress Historic: House Democrats Elect NY Rep. As Leader, First Black Person To Head Party In Congress
Historic: House Democrats Elect NY Rep. As Leader, First Black Person To Head Party In Congress History has been made after House Democrats elected New York Congressman Hakeem Jeffries as their leader, marking the first time a Black person will lead a party in either chamber of Congress. The move came in a closed-door meeting on Capitol Hill Wednesday morning, Nov. 30, CNN reports. Earlier Report: NY Congressman Seen As Favorite To Become Dems' Congressional Leader After Pelosi Departure Jeffries, the caucus chair who represents New York’s 8th Congressional District covering eastern Brooklyn and southwestern Queens, was unopposed in running for leader, the outlet reports. The 52-ye…
Westchester County Given Aa1 Bond Rating By Moody's Westchester County Given Aa1 Bond Rating By Moody's
Westchester County Given Aa1 Bond Rating By Moody's Westchester County has just received an Aa1 bond rating by Moody's Investors Service, reflecting the county's "diverse and resilient economy," according to the company. In addition, it has upgraded the county’s rating outlook to positive from stable.  Earlier Report - County's Bond Rating Outlook Upgraded By Fitch Ratings According to the report that came with the rating, the county has benefitted from "strong resident wealth, a sizeable corporate base, and healthy full value per capita," as well as a home for workers commuting to New York City, according to Moody's.&n…
'Incredibly Grateful': Republican Marc Molinaro Prevails In NY's 19th District Race 'Incredibly Grateful': Republican Marc Molinaro Prevails In NY's 19th District Race
'Incredibly Grateful': Republican Marc Molinaro Prevails In NY's 19th District Race In another win for Republicans, Marc Molinaro has prevailed over Democrat Josh Riley in New York’s 19th Congressional District, NBC News projects.  Molinaro, the Dutchess County executive, was leading Riley 51.1 to 48.9 percent with 99 percent of the vote counted as of Wednesday evening, Nov. 9. Earlier Report: Republican Marc Molinaro On Track To Win In NY’s 19th District (Developing) The 19th District includes the counties of Columbia, Delaware, Greene, Otsego, Schoharie, Sullivan, and Ulster, as well as portions of Broome, Dutchess, Montgomery, and Rensselaer counties. President Bide…
Rep. Pat Ryan Edging Out Republican Colin Schmitt In NY’s 18th District Race (Developing) Rep. Pat Ryan Edging Out Republican Colin Schmitt In NY’s 18th District Race (Developing)
Rep. Pat Ryan Edging Out Republican Colin Schmitt In NY’s 18th District Race (Developing) This story has been updated. New York Rep. Pat Ryan appeared likely to continue serving in Congress after results showed him leading Republican Assemblyman Colin Schmitt in the 18th District early Wednesday, Nov. 9.  Ryan, the former Ulster County executive, was leading Schmitt by just 0.84 percentage points, 50.42 to 49.58 percent, with more than 95 percent of the vote counted. Among the most closely watched in the state, the 18th District is located in the Hudson Valley and includes all of Orange and Putnam counties, as well as portions of southern Dutchess County and northeast…
Republican Marc Molinaro On Track To Win In NY’s 19th District (Developing) Republican Marc Molinaro On Track To Win In NY’s 19th District (Developing)
Republican Marc Molinaro On Track To Win In NY’s 19th District (Developing) This story has been updated. Republicans appeared poised to win in New York’s 19th Congressional District, with Marc Molinaro seemingly on track to defeat Democrat Josh Riley early Wednesday, Nov. 9.  Molinaro, the Dutchess County executive, was leading Riley by 2.2 percentage points, 51 to 49 percent, as of early Wednesday morning, Nov. 9, with more than 95 percent of the votes in. The 19th Congressional District includes the counties of Columbia, Delaware, Greene, Otsego, Schoharie, Sullivan, and Ulster, as well as portions of Broome, Dutchess, Montgomery, and Rensselaer counties. …
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…
New Poll Shows How Hochul-Zeldin Race For Governor Looks As Election Day Gets Closer New Poll Shows How Hochul-Zeldin Race For Governor Looks As Election Day Gets Closer
New Poll Shows How Hochul-Zeldin Race For Governor Looks As Election Day Gets Closer With just over a week until New Yorkers choose their next governor, incumbent Democratic Gov. Kathy Hochul is maintaining her lead over Republican Rep. Lee Zeldin, new polling shows. Hochul garnered 50 percent support to Zeldin’s 44 percent in an Emerson College poll released Friday, Oct. 28. Earlier Report: New Poll Reveals Who NYers Favor In Governor's Race Based On Inflation, Crime, Abortion Four percent of respondents were undecided, while 2 percent said they plan to vote for someone else, pollsters said. Zeldin, who represents the state’s 1st Congressional District covering east…