Inflation rose last month as the price of gas, groceries, and airfares jumped, while a measure of layoffs also increased, putting the Federal Reserve in a tough spot as it prepares to cut rates at its meeting next week despite persistent price pressures.
inflation
Posted inAndroscoggin County, Business, Lewiston-Auburn, Maine, News, The Buzz
Auburn developer taps the brakes on new apartment plans
At Kittyhawk Apartments, 24 more units are on pause as developer watches the economy, tariffs and construction costs.
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Posted inBusiness, Maine, News
Maine’s lobster industry broke records. Inflation tells a different story.
The fishery hit historic highs in 2021 and 2024, but the numbers aren’t as rosy as they seem.
Posted inBusiness, Food, Maine, News
How the pandemic reshaped Portland’s restaurant scene
Exactly five years ago, the onset of COVID in Maine, and its aftermath, caused a period of intense turnover in the restaurant industry. It continues today.
Posted inBusiness, Maine, News
Maine’s minimum wage will get a boost Jan. 1
It will increase from $14.15 to $14.65 as contributions to the state’s new paid family and medical leave program also kick in.
Posted inBusiness
U.S. inflation rises slightly after 2 years of steady cooling but remains low
Most of the monthly increase in consumer prices reflected an increase in rents and housing costs, a trend that Fed officials expect to fade in the coming months.
Posted inBusiness, Nation / World, News
IMF declares global fight against high inflation is ‘almost won’
In its latest assessment of the global economy, the International Monetary Fund predicted that worldwide inflation will cool from 6.7% last year to 5.8% this year and to 4.3% in 2025.
Posted inBusiness, Election 2024, Politics
Trump’s economic plans would worsen inflation, experts say
Donald Trump has vowed that if voters return him to the White House, ‘inflation will vanish completely.’
Posted inBusiness, News
Wholesale inflation remained cool last month in latest sign that price pressures are slowing
It’s another sign that inflation is returning to something close to normal after years of pressuring America’s households in the wake of COVID-19.
Posted inBusiness, Nation / World, News
US inflation reaches lowest point in 3 years, though some price pressures remain
Inflation in the United States dropped last month to its lowest point since it first began surging more than three years ago, adding to a spate of encouraging economic news in the closing weeks of the presidential race.