Inflation could mean a big Social Security cost-of-living adjustment in 2023

Sporrer/Rupp | Image Source | Getty Images Social Security beneficiaries started 2022 with a 5.9% cost-of-living adjustment to their monthly checks, the highest increase in about 40 years. But as inflation climbs with each month, the buying power of those benefit increases has diminished. The Consumer Price Index for all Urban Consumers, or CPI-U, rose … Read more

The Inflation Measures That Business Leaders Should Follow

Inflation is rising however you measure it. Dr. Bill Conerly based on data from the Bureau of Labor Statistics Business leaders have two concerns about inflation: their own particular selling prices and costs, and the general trend for inflation. The general trend is important information in business strategy and also helps managers understand the direction … Read more

Here’s how you can prepare if there’s a 50 basis point Fed rate hike

Consumers are spending more to keep up with the surging cost of living and it may get worse before it gets better. “Even though wage growth has been the best in decades, it’s been outpaced by increased household costs,” said Greg McBride, chief financial analyst at Bankrate.com. “With inflation at a 40-year high, that has … Read more

Even as Inflation Bites, Corporate Profits Remain Flush | Business News

By STAN CHOE, AP Business Writer NEW YORK (AP) — What’s immune to high inflation? So far, the profits at big US companies. Businesses are facing higher gasoline and heating bills, just like consumers, in addition to higher expenses for labor and raw materials. But unlike many middle- and lower-income Americans, they’ve been making more … Read more

Russia War Ends Era of Globalization That Kept Inflation Low | Business News

By PAUL WISEMAN, AP Economics Writer For decades, the free flow of trade across much of the world allowed the richest nations to enjoy easy access to low-priced goods and supplies. It meant solid and stable markets. And for households and businesses, especially in the United States and Europe, it meant an entire generation of … Read more

Asian Shares Higher Ahead of Russia-Ukraine Peace Talks | Business News

By ELAINE KURTENBACH, AP Business Writer BANGKOK (AP) — Asian shares were mostly higher Tuesday in muted trading ahead of another round of peace talks between Russia and Ukraine. Crude oil prices fell further after sinking 7% on Monday. Trading has remained choppy as investors trying to gauge what’s next for inflation and the global … Read more

Biden’s Budget Plan: Higher Taxes on Rich, Lower Deficits | Business News

By JOSH BOAK, Associated Press WASHINGTON (AP) — President Joe Biden released a budget blueprint Monday that calls for higher taxes on the wealthy, lower federal deficits, more money for police and greater funding for education, public health and housing. In essence, it tries to tell voters what a diverse and at times fractured Democratic … Read more

Asian Shares Mixed as Markets Eye Ukraine, Inflation Worries | Business News

By YURI KAGEYAMA, AP Business Writer TOKYO (AP) — Asian shares were mixed on Monday as worries about the pandemic, inflation and the war in Ukraine weighed on market sentiment. Benchmarks in Hong Kong and Sydney gained while Tokyo, Seoul and Shanghai declined. Adding to concern over the economic impact from the pandemic, Shanghai went … Read more

Business Highlights: Biden’s low marks, energy deal

___ AP-NORC poll: Low marks for Biden on economy as prices rise WASHINGTON (AP) — A majority of Americans say they don’t blame President Joe Biden for high gasoline prices, but they’re giving his economic leadership low marks amid fears of inflation and deepening pessimism about economic conditions. A new poll from The Associated Press-NORC … Read more

EU Leaders Reach Compromise on Energy After Long Debate | Business News

By SAMUEL PETREQUIN and RAF CASERT, Associated Press BRUSSELS (AP) — European Union leaders struggled for hours Friday to find a compromise on a deal aimed at curbing energy prices that have gone through the roof and hurt households and businesses across the 27-nation bloc. There was a clear rift between the bloc’s southern and … Read more

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