Eggs are soaring. Butter is surging Margarine is climbing. Nearly every food item listed in the consumer price index (CPI) is higher than a year ago, with many of them rising month-over-month. But here is one food product that continues to be one of the best assets in the global financial markets: orange juice. Over […]
Money
U.S. tax refund payments 30% below 2017-2019 average for this time of the year
If you have filed your taxes, you may have received a refund lower than in previous years. According to data from UBS economists, tax refund payments are about 30 percent below the 2017-2019 average for this time of the year. Although it is still early in the tax season, which started on January 23, the […]
Are new cars only for the rich? The cost of owning, leasing a vehicle surges
By: Andrew Moran Vehicle ownership represented freedom, mobility, independence, and, in some cases, prosperity. Yet, today, whether consumers are purchasing new cars or used automobiles, driving a vehicle has turned into a luxury. It turns out that not only are rampant price inflation and the prolonged supply chain crisis impacting the production and purchasing of automobiles, but rising interest […]
Reminder: U.S. government officially changes how the CPI is calculated
Before the Bureau of Labor Statistics (BLS) releases the official consumer price index (CPI) report for January, this is your reminder that the federal agency altered how it measures inflation. Here is what the BLS previously announced: “Starting with January 2023 data, the BLS plans to update weights annually for the Consumer Price Index based […]
US still leads the world in gold reserve holdings, WGC data show
Gold is glittering again. Last year, central banks purchased a record amount of the precious metal. But who did the buying, and who maintains the largest global gold reserve holdings? For now, the United States still leads the world in reserves, with more than 8,000 tons. The next closest is Germany, with roughly 3,500 tons. […]