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The costs are going up, truckers are being paid more, the dockworkers are being paid more.. WebThe failure of First Republic Bank marks a volatile beginning to a busy macroeconomic week, while Bitcoin already faces downside pressure. That cost-of-living spike helped Ronald Reagan make Jimmy Carter a one-term president. October 2020s 0.7% rate tied a five-year low. Accordingly, month-to-month changes may reflect seasonal influences. That was more than double 2020s 1.6% rate in a pandemic-iced economy. 997 0 obj <>stream Ports and warehouses were overwhelmed, with hundreds of workers at the ports of Los Angeles and Long Beach, the nations busiest, out sick last month. Atlanta at 7.9%. Inside the L.A.-O.C. Food costs overall jumped 5.6%, driven primarily by an increase of 7.1% for food consumed at home. Prices for food at home increased 5.4 percent since a year ago, with higher prices in five of the six grocery categories. (2) This index series was calculated using a Laspeyres estimator. In 2022 in the wake of the COVID-19 pandemic, inflation reached 8.5%, its highest rate since 1982. Business Cycle: Expansion and Peak In California, where residents paid some of the nations highest prices for gas, rent, utilities and food, the effects have been acute. The site is secure. Food costs, driven by pricier eggs, cereal and dairy products, increased 0.9 percent in January. Its costing more to get stuff to consumers. In the past year, sharp increases in the costs of gas, food, autos and furniture upended many other Americans budgets. The Consequences of Declining Fertility for Social Capital. Inflation is clearly a problem and the Federal Reserves claim that its transitory looks more and more ridiculous each month, Brian Wesbury, chief economist with First Trust Advisors, stated in a research note. April 12, 2022. Economy | Efforts by President Joe Bidens administration to inject a massive amount of stimulus into the economy through government spending on efforts such as new infrastructure programs could worsen the inflation woes because of the additional dollars circulating nationwide, Thornberg warned. If you need assistance in computing CPI changes from one period to the next, please contact us via the following: Additional Consumer Price Index information is available from: A_(dC9^ H|Oa;_iw2v_aTTR('_^l3={ Jp7:Isr7kzf . First Republic Banks jumbo mortgages brought on failure, Whats new: Loma Villas apartments sell for $21.5M to investor, What a wedding can teach us about commercial real estate, Status Update: Dutch Bros. drive-through coffee shop plots first OC locations, Orange County restaurants shut down by health inspectors (April 20-27), More land sliding at Casa Romantica; residents evacuated, trains halted through San Clemente, Orange County Artist of the Year winners announced, Fire at Barnes & Noble in Orange disrupts book-signing event, Then and Now: Photos of Casa Romantica show damage caused by landside, Dementia doubles in Orange County in less than a decade, Cold, drizzly week ahead for Southern California, OC Marine who volunteered in Ukraine, survived rocket attack: I would do it again, Man who killed father on Laguna Niguel trail committed to mental-health hospital, Do Not Sell/Share My Personal Information.