businessinsider.com
While most people know that sticky inflation is still a pain for the economy even though price increases have slowed in the last few months, how much it hurts your bank account might not always be apparent, unless you know where to look.It turns out that some of your favorite delivery apps make it easier than ever to track the impact of inflation on your spending habits. All you have to do is look at your order history.My family of four recently ordered dinner from our favorite local taco shop i…
2 months ago
businessinsider.com
The US economy continues to sit in a fragile state where seemingly anything could push it into a recession. The fact that it hasn’t happened yet is thanks largely to an enduring labor market, and two profound forces have emerged to help keep it afloat: prime-age women, especially mothers, and remote job opportunities.Economists at Wells Fargo found that 83.5% of prime-aged people, who are between 25 and 54 years old, are either employed or actively seeking a job, the highest level since 2002.Wit…
3 months ago
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Ozempic has taken the world by storm thanks to how it can help people lose weight, but it could also mean so much more for the economy.Ozempic is a brand name for semaglutide, a diabetes drug that also has weight loss effects. Patients inject it weekly, and it reduces appetite. Semaglutide is also sold for weight loss under the brand name Wegovy.While it’s too early to know exactly how GLP-1 drugs’ will ripple out to the broader economy long-term, it’s already had significant effects on patients…
3 months ago
businessinsider.com
In the summer of 2023, Texas witnessed a scorching reality that left indelible marks on the health of its people and economy.It was so bad that Austin Mayor Kirk Watson warned people to stay inside.“People sometimes think, ‘Well, I can beat the heat,’” Watson said during a news conference in June. “But with this heat, in this humidity, it’s dangerous, and we need to pay attention to that.“It seems people across the state did stay home, and tourists stayed away as well, per recent research from t…
3 months ago
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Inflation is still affecting the prices of many goods, but now the climate crisis is about to make it worse for some of the most popular beers — IPAs.A new study in Nature from researchers at the Global Change Research Institute of the Czech Academy of Sciences shows that the rise in temperatures in Europe has caused a decline in the production of hops.This is important for the beer industry because the ever-popular India Pale Ales (IPAs) and their related off-shoots depend on aroma hops for the…
3 months ago
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The price of electric vehicles is still the biggest hurdle to most consumers considering a switch from gas-powered cars, and they might not even be factoring in some of the hidden costs associated with them.A man in Scotland was recently shocked by a £17,374 ($21,000) bill to fix his Tesla after rain damaged the battery.“I thought we would get a bill for £500 or £1,000,” Johnny Bacigalupo told Edinburgh Live. “When they said over 17 grand — it’s absolutely obscene. My heart missed a beat, honest…
3 months ago
businessinsider.com
Pressure from several different fronts has most Americans feeling behind on their retirement and like they will have to delay its start.Goldman Sachs calls it a “financial vortex,” and says simply having a plan can help Americans find their way through.Two new surveys from Goldman Sachs and Bankrate examined how confident people feel about their retirement. While most have a dim outlook, the results varied by age and whether or not they had a financial plan.In Bankrate’s August survey of 2,527 U…
3 months ago
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While the most pressing concern in Israel is the immediate human toll as thousands have died in the conflict with Hamas, the war also has a chance of disrupting the global economy.In the latest estimates, more than 4,100 people have died since Hamas’ terrorist attacks earlier this month and Israel’s subsequent war against the militant group.As the war in Israel rages on, there are growing fears it will escalate into something much bigger, and the ripple effect could undo any hopes for the US eco…
3 months ago
businessinsider.com
Inflation is back on the rise and it’s forcing retailers to get creative.The latest Consumer Price Index data was released on Thursday, showing that inflation held steady in September, with prices 3.7% greater than the same period in 2022. That was the same rate as August after a dip in July to 3.2%.This means prices are still rising faster than the Fed’s goal of getting inflation back down to 2.0%. Even though shoppers are hurting, it’s not always obvious how exactly the crunch is hitting your…
3 months ago
businessinsider.com
Even as interest rates skyrocketed over the past 18 months, a good job market and strong consumer spending kept the US economy moving.This led to hope that a soft landing was coming, where the Federal Reserve could defeat inflation without millions of Americans losing their jobs.However, there are growing signs that the strength of the US consumer is starting to crack.First, the student-loan payment restart on October 1 is expected to drain $8 billion a month from consumers. The impact on spendi…
4 months ago
businessinsider.com
Where do people go to save money when they are already shopping at dollar stores and are starting to find that even some of those products are too expensive? They keep shopping in dollar stores, but they spend more time in the aisles with the most important products.In a recent earnings call with investors, Dollar General reported that sales were down over the summer compared to the spring when sales were steady. Higher prices and interest rates were the reasons for more cautious spending among…
4 months ago
