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Inflation

Business
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…

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by Chris Spiker
Business
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…

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by Chris Spiker
Business
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…

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by Chris Spiker
Business
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…

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by Joe Lombardi
Business
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…

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by Joe Lombardi
Sports
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…

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by Joe Lombardi
News
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…

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by Chris Spiker
Business
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…

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by Joe Lombardi
Business
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…

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by Chris Spiker
Business
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…

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by Joe Lombardi
Lifestyle
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…

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by Joe Lombardi
Business
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…

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by Joe Lombardi
Business
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 …

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by Joe Lombardi
News
Congestion Pricing: Murphy Opposes Hochul's Program Charging Drivers $9 In Parts Of Manhattan Congestion Pricing: Murphy Opposes Hochul's Program Charging Drivers $9 In Parts Of Manhattan
Congestion Pricing: Murphy Opposes Hochul's Program Charging Drivers $9 In Parts Of Manhattan New Jersey Governor Phil Murphy is pushing back against New York’s plan to revive the congestion pricing plan, expressing concerns about the impact on New Jersey commuters who regularly travel into Manhattan.  Governor Kathy Hochul's plan, which reduces daily congestion fees to $9 down from $15, aims to reduce traffic and fund transit improvements, but Murphy argues it unfairly targets New Jersey residents.  The plan would require motorists to face $9 tolls when entering certain parts of Manhattan known as the Congestion Relief Zone. The zone is comprised of Lower Manhattan south …

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by Cecilia Levine
News
Atlantic City's 2024 Airshow Canceled After 'Major Act' Withdraws From Event Atlantic City's 2024 Airshow Canceled After 'Major Act' Withdraws From Event
Atlantic City's 2024 Airshow Canceled After 'Major Act' Withdraws From Event Atlantic City's popular air show has been scrubbed for 2024 after a last-minute effort seemingly saved the financially troubled summer spectacle, officials said. The 2024 Visit Atlantic City Airshow has been canceled, according to the event website's homepage on Wednesday, July 10. A joint statement was posted by the Greater Atlantic City Chamber, the South Jersey Transportation Authority (SJTA), and Visit Atlantic City. The free event, which attracts about 500,000 visitors, was scheduled for Tuesday, Aug. 13, and Wednesday, Aug. 14. "We regret …

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by Chris Spiker
News
Biden Raises $33M Since Debate, Admits To 'Poor Performance' At Murphy's Mansion Biden Raises $33M Since Debate, Admits To 'Poor Performance' At Murphy's Mansion
Biden Raises $33M Since Debate, Admits To 'Poor Performance' At Murphy's Mansion In a fundraising blitz, President Joe Biden's campaign for re-election has raised $33 million since last Thursday's debate, the bulk of that in New Jersey and New York, a spokesman said on Monday, July 1. That total includes "grassroots" money from small donors, a campaign aide said. Biden, 81, a Democrat, is being challenged by former President Donald Trump, 78, a Republican. Biden attended two fund-raising events in East Hampton, NY, on Saturday afternoon followed by a Saturday evening fund-raiser hosted by New Jersey Gov. Phil Murphy and his wife, Tammy, in Middletown. “I didn’t have a…

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by Jon Craig
News
PSE&G Proposes Lowering Gas Bills PSE&G Proposes Lowering Gas Bills
PSE&G Proposes Lowering Gas Bills PSE&G customers could be getting some relief in their bills. PSEG filed proposals with the New Jersey Board of Public Utilities to lower gas bills for residential customers by 6.1% effective October. “This is an opportunity to lower our gas supply rate, providing our customers with a little bill relief and helping to maintain affordability,” said Dave Johnson, vice president Customer Care & Chief Customer Officer. “We’re pleased that we will continue to have one of the lowest gas rates in the state.” If approved, the Basic Gas Supply Service (BGSS) rate will be reduced by almost 7 …

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by Sam Barron