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What are Ohio economic analysts keeping an eye on as inflation grows?

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COLUMBUS, Ohio (Statehouse News Bureau) — Analysts in Ohio are keeping a watchful eye on certain decisions made on the federal level to address the problem of inflation, with the concern that an overreaction could cause more economic issues. The Consumer Price Index report for May showed that inflation in the U.S. increased by 8.6%… Read More

Federal Reserve Chair Jerome Powell looks on after taking the oath of office for his second term at the helm of the central bank at the Fed's headquarters in Washington, D.C., on May 23.

The Fed delivers biggest interest rate hike in decades to combat surging inflation

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WASHINGTON, D.C. (NPR) — The Federal Reserve escalated its battle against inflation Wednesday, announcing the largest interest rate hike in 28 years as the central bank struggles to regain control over soaring consumer prices. The Fed raised its benchmark interest rate by three-quarters of a percentage point — the biggest hike since 1994. That follows… Read More

A volunteer prepares an order at the Westerville Area Resource Ministry (WARM) food pantry in December 2020.

Inflation is increasing demand at food banks, leading to a struggle to keep shelves stocked

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COLUMBUS, Ohio (Statehouse News Bureau) — As many low-income Ohioans struggle to keep up with the rising price of gas and rent, they are increasingly turning to food banks when they run out of money to make ends meet. Lisa Hamler-Fugitt, the executive director of the Ohio Association of Foodbanks, said the items on shelves… Read More

Nan Whaley, a Democratic candidate for Ohio Governor in 2022, stands inside the entrance of Donkey Coffee, a local coffee shop, in Athens, Ohio, on Friday, June 11, 2021.

Whaley proposes rebates to help Ohioans fight inflation

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COLUMBUS, Ohio (Statehouse News Bureau) — Ohio is set to receive $2.68 billion in the next round of federal funding from the American Rescue Plan. Democratic gubernatorial candidate Nan Whaley is proposing the state use that money to give rebates to an estimate 7.4 million Ohioans who are feeling the pinch from inflation. “Ohioans are… Read More

A house available for rent on March 15, 2022 in Los Angeles, California.

Inflation may be easing — but low-income people are still paying the steepest prices

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Updated May 11, 2022 at 8:37 AM ET WASHINGTON, D.C. (NPR) — Four-dollar gasoline and five-dollar hamburger are putting a squeeze on Tanya Byron’s pocketbook. But it’s the rent that really stings. “It’s pretty depressing,” says the Jacksonville, Fla., travel agent, sitting in the tiny dining room that doubles as her home office. “I make… Read More

Federal Reserve Chair Jerome Powell testifies about monetary policy and the state of the economy before the House Financial Services Committee in Washington, D.C., on March 2.

The Fed raises interest rates by the most in over 20 years to fight inflation

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WASHINGTON, D.C. (NPR) — The Federal Reserve ordered the largest interest hike in more than two decades Wednesday as part of its escalating campaign to battle stubbornly high inflation. The central bank raised its benchmark rate by half-a-percentage point, following a quarter-point increase in March. The moves mark a sharp U-turn from the easy-money policies… Read More

A hiring sign is posted outside a business in Huntingdon Valley, Pa.

The U.S. added 678,000 jobs in February. It’s another sign of a hot labor market

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Updated March 4, 2022 at 9:08 AM ET WASHINGTON, D.C. (NPR) — Hiring accelerated sharply last month as U.S. employers added 678,000 jobs, the largest gain since last July, and a resilient economy continues its recovery from the stubborn coronavirus pandemic. The unemployment rate fell to 3.8% last month, from 4% in January. Job gains… Read More

Cameron Mitchell operates 60 restaurants in more than a dozen states. Rising expenses have forced him to increase menu prices three times this year.

Inflation is red hot, soaring to 6.8% in November, the highest in nearly four decades

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Updated December 10, 2021 at 9:09 AM ET WASHINGTON, D.C. (NPR) — If you think your grocery bill has gone through the roof this year, you can appreciate what’s happened to Cameron Mitchell. Mitchell’s shopping for about 60 restaurants he runs in cities across the country — from high-end steakhouses to Molly Woo’s Asian Bistro… Read More

An isle at the grocery store without customers

How inflation, climate change and energy costs are pushing up food prices

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WASHINGTON, D.C. (NewsHour) — In the US, inflation is now above six percent, and globally, food prices are at their highest since 2011. Climate change, energy demands and inflation are causing shortages and driving up costs in some of the poorest nations. Wall Street Journal reporter Samantha Pearson joins NewsHour’s Hari Sreenivasan from Sao Paulo,… Read More

Gasoline prices are seen on Nov. 17 in Miami Beach, Fla.

The White House is tapping oil reserves to try to bring down high gas prices

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Updated November 23, 2021 at 3:35 PM ET WASHINGTON, D.C. (NPR) — The United States plans to draw 50 million barrels of oil from its emergency oil reserves in coming months, a widely anticipated step aimed at trying to take the edge off high gas prices that have been hurting consumers at the pump —… Read More

Frozen turkeys sit in a refrigerated case inside a grocery store

Expect to pay more this year to stage your Thanksgiving feast

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WASHINGTON, D.C. (NPR) — Get ready to add another stressor to your Thanksgiving holiday this year. The Farm Bureau reports that the cost of a Thanksgiving dinner for 10 people is up 14% over last year, averaging at $53.31. The Farm Bureau’s calculations include turkey, stuffing mix, sweet potatoes, rolls with butter, peas, cranberries, a… Read More

Ohio restaurant owners and Ohio Restaurant Association leaders sit at a table in a Columbus restruant

Ohio restaurant owners say they need government help with operating expenses

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COLUMBUS, Ohio (Statehouse News Bureau) — Just over half of Ohio’s restaurants are telling their main lobbying group they don’t think they’ll be able to break even this year. They said business has not fully rebounded to the levels they experienced prior to the pandemic and they are unsure when that might happen. The federal… Read More