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Inflation

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Jobless Claims Hit Four-Month High, Adding To Inflation And Recession Fears Jobless Claims Hit Four-Month High, Adding To Inflation And Recession Fears
Jobless Claims Hit Four-Month High, Adding To Inflation And Recession Fears Unemployment claims have surged to their highest level since October 2024, adding to growing concerns over job security and the broader economy. Initial jobless claims jumped by 22,000 to 242,000 for the week ending on Saturday, Feb. 22, the Bureau of Labor Statistics said in data released on Thursday, Feb. 27. The previous week's total was revised up slightly to 220,000. The rise in claims comes as consumer confidence took its steepest monthly dive since August 2021 amid concerns over inflation, tariffs, and the labor market. The Conference Board's Consumer Confidence Index fell …

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by Chris Spiker
Business
Egg Prices Now Expected To Rise Twice As High As Earlier Projections In 2025 Egg Prices Now Expected To Rise Twice As High As Earlier Projections In 2025
Egg Prices Now Expected To Rise Twice As High As Earlier Projections In 2025 Egg prices are now expected to jump in price in 2025 by more than double earlier projections. Initial estimates by the USDA predicted a 20-percent increase just a month ago. With a nationwide shortage due to bird flu which has reduced egg-layer flocks and egg production, a 41-percent increase is now expected this year, the USDA says. The price of a dozen eggs, at around $5 on average, is up nearly 100 percent from last year. About 18.8 million commercial egg layers were affected by the bird flu in January, the highest monthly total since the outbreak began in 2022, the USDA said.  …

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by Joe Lombardi
Business
Recession Fears Rise As Consumer Confidence Sees Steepest Drop Since 2021 Recession Fears Rise As Consumer Confidence Sees Steepest Drop Since 2021
Recession Fears Rise As Consumer Confidence Sees Steepest Drop Since 2021 Consumer confidence took its biggest dive in more than three years, adding to growing concerns over inflation, job security, and the broader economy — as Americans grapple with high prices and uncertain financial conditions. The Conference Board's Consumer Confidence Index fell 7.0 points in February to 98.3, the nonprofit business research group said on Tuesday, Feb, 25. That marks the metric's steepest monthly decline since August 2021. The Expectations Index also dropped 9.3 points to 72.9. That number gauges consumers' outlook on jobs, income, and business conditions. Fo…

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by Chris Spiker
Business
Egg Inflation Hits Denny's: Customers Face New Surcharge At Some Locations Egg Inflation Hits Denny's: Customers Face New Surcharge At Some Locations
Egg Inflation Hits Denny's: Customers Face New Surcharge At Some Locations Soaring egg prices are scrambling the Denny's menu. Denny's is adding a surcharge to meals containing eggs, a company spokesperson confirmed to the Daily Voice on Monday, Feb. 24. The diner chain cited skyrocketing costs fueled by the bird flu outbreak. The company said some locations will temporarily implement the surcharge due to rising egg prices, though the exact amount and which restaurants are affected will vary. "Due to the nationwide egg shortage and increased cost of eggs, some of our restaurant locations will need to temporarily add a surcharge to every meal that includes eg…

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by Chris Spiker
Politics
New Poll Shows Approval Drop In Trump's Handling Of Economy New Poll Shows Approval Drop In Trump's Handling Of Economy
New Poll Shows Approval Drop In Trump's Handling Of Economy As economic uncertainty looms, a new poll shows President Donald Trump's approval rating has slipped, with growing numbers of Americans expressing concern over the nation's financial direction. The Reuters/Ipsos poll, which surveyed 4,145 US adults nationwide over a six-day period ending Tuesday, found Trump's overall approval rating at 44 percent, down from 45 percent in a poll conducted Friday, Jan. 24 to Sunday, Jan. 26.  His disapproval rating climbed to 51 percent, a notable increase from 41 percent in polling taken just after he returned to the White House on Monday, Jan. 20 to T…

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by Joe Lombardi
News
NY Shoppers Feel Inflation But Spend Less Of Income On Groceries Than Many States: Study NY Shoppers Feel Inflation But Spend Less Of Income On Groceries Than Many States: Study
NY Shoppers Feel Inflation But Spend Less Of Income On Groceries Than Many States: Study Inflation and soaring grocery prices are squeezing US households at the beginning of 2025, but a new study says Northeast families are spending less of their income on food than other parts of the country. A study from WalletHub called States Where People Spend the Most & Least on Groceries was released on Thursday, Feb. 13. Despite higher food costs, residents in many Northeast and mid-Atlantic states spend a smaller share of their incomes on groceries compared to others. WalletHub said the cost of groceries has surged more than 25 percent since 2019, straining household…

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by Chris Spiker
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
Minimum Wage To Increase On Long Island: Here’s How Much Minimum Wage To Increase On Long Island: Here’s How Much
Minimum Wage To Increase On Long Island: 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. …

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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
Politics
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…

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by Michael Mashburn
Business
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…

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by Joe Lombardi
Business
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…

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by Joe Lombardi