ICYMI on KPBS Midday Edition: The prices of gas, food and most other goods and services jumped in May, raising inflation to a new four-decade high and giving American households no respite from rising costs.
Consumer prices surged 8.6% last month from a year earlier, faster than April’s year-over-year increase of 8.3%,. The new inflation figure, the highest since 1981, will heighten pressure on the Federal Reserve to continue raising interest rates aggressively.
“Virtually every sector has higher-than-normal inflation,” said Ethan Harris, head of global economic research at Bank of America. “It's made its way into every nook and cranny of the economy. That's the thing that makes it concerning, because it means it's likely to persist.” Employers face immense pressure to raise pay in a job market that remains robust, with low unemployment, few layoffs and near-record job openings. But while average wages are rising at their fastest pace in decades, they aren't increasing fast enough for most workers to keep pace with inflation. Many households accumulated savings from government stimulus aid during the pandemic and are now having to draw on those savings to pay bills.
Brasil Últimas Notícias, Brasil Manchetes
Similar News:Você também pode ler notícias semelhantes a esta que coletamos de outras fontes de notícias.
Pandemic stress may disrupt ovaries; blood test may improve immunity assessmentThe following is a summary of some recent studies on COVID-19. They include research that warrants further study to corroborate the findings and that has yet to be certified by peer review.
Consulte Mais informação »
Admitting we may fail to hit 1.5°C can help us tackle climate changePolitical action won't come fast enough to keep the world to a temperature rise of 1.5°C, but being open about this failure should spur us to successful action on limiting emissions
Consulte Mais informação »
Bitcoin price drops to lowest since May as Ethereum market trades at 18.4% lossBitcoin lines up a grim weekly close as BTC price action circles $27,000 and Ethereum gives up its realized price.
Consulte Mais informação »
Starbucks may close bathrooms to general public soonIn 2018, Starbucks opened restrooms to anyone, including non-paying customers. After an incident in Philadelphia, two Black men were denied access because they hadn't made a purchase.
Consulte Mais informação »
340-Year-Old Shipwreck May Change What We Know About 17th-Century Maritime HistoryA British warship that sank in 1682 while carrying a future king has been located off eastern England, in a find described as the 'most significant historic maritime discovery since the raising of the Mary Rose in 1982'.
Consulte Mais informação »
Coolest day since May also seemed perfectly cloudyBut we did get glimpses of sunshine on Saturday.
Consulte Mais informação »