Overall food prices have been increasing steadily over the years, with growth predicted to continue in 2025, according to the USDA Food Price Outlook tracker.
Yellen warned U.S. will hit statutory debt ceiling middle of Jan., prompting Treasury to resort to “extraordinary measures” to prevent government defaulting.
“I am concerned about fiscal sustainability and I am sorry that we haven’t made more progress,” Janet Yellen said to successor, trump appointed Scott Bessent.
Consumer sentiment survey shows Americans’ confidence in the economy tumbled after two months of small gains, with frustration over high prices to blame.
According to BLS, the annual inflation rate slowed to 2.4 percent last month, down from 2.5 percent in August. This was above the market estimate of 2.3 percent.
New research by prominent economists suggests U.S. economy has been in a recession for the last two years after inflation adjustments are taken into account.
