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The last time gasoline was this cheap, 4% inflation seemed alarming, JD Vance was still a private citizen and the United States had only just begun its messy withdrawal from Afghanistan. Gas prices dropped below an average of $3 a gallon in the United States on Tuesday for the first time in four-and-a-half years, according to AAA. The milestone represents a rare feel-good story in a years-long affordability crisis marked by high prices for necessities. The national average for regular gas dipped to $2.998 a gallon, compared with $3.001 on Monday. Pump prices are down about six cents in just...

It was, by any measure, a lot of red ink. When Volkswagen announced its third-quarter profits at the end of October, the German auto giant said it anticipated heavy losses for this year. The reason? It is taking a 5 billion euro hit from tariffs imposed in the American market. Likewise, the German sportswear manufacturer Adidas warned of a 120 million euro hit to its earnings, in part because the levies its trainers now face in the United States, while Toyota warned of a $9 billion hit from tariffs. For anyone following the corporate earnings season over the last month,...

WASHINGTON (Reuters) -U.S. grocers and food companies ranging from Walmart (WMT) to Smithfield Foods (SFD) are bracing for a dip in November sales if federal food aid benefits lapse for the first time due to the ongoing government shutdown. The shutdown has imperiled next month's Supplemental Nutrition Assistance Program, also known as food stamps, which serves nearly 42 million people.

Last Thursday, EMD Serono became the latest pharmaceutical company, after Pfizer and AstraZeneca, to agree to a deal with the Trump Administration to reduce the prices of its drugs. Under these deals the companies must sell their drugs to the federal government at the “Most Favored Nation” price. Under the Most Favored Nation system, the price pharmaceutical companies can charge for a drug is equal to the lowest price among selected high-income countries. Many of those countries are in Europe, where they have lower drug prices because they impose price controls. The Trump Administration is trying to address public frustration...

As of Tuesday, the average price of regular unleaded gas in Missouri was $2.72 per gallon. On Oct. 20, 2024, the price was $2.85 per gallon, and it was $3.25 per gallon in 2023, $3.44 per gallon in 2022 and $3.03 in 2021.

Few social media sites are as big a swamp as Reddit.Leftists use the platform to call for attacks on ICE facilities and agents, and the site is populated by lunatics who think January 6 is worse than 9/11 and the Holocaust.They are driven by a deep hatred of President Trump and conservatism, which is why one Reddit user is upset that prices at Costco are coming down.No, really.[snip]The post reads:Costco is quietly slashing prices. This feels wrong.I go to costco every week. it’s probably the only thing i do consistently. i’ve been doing it for years, i know how the...

PHOENIX – A massive fire at a Southern California oil refinery is bad news for Arizona drivers, who could see gas prices soar well over $4 per gallon.

Key Points Novo Nordisk said it now offers cash-paying U.S. patients its blockbuster diabetes treatment Ozempic for less than half its monthly list price through multiple platforms. Patients can pay $499 in cash per month for three dose sizes of Ozempic through the drug’s official website, Novo Nordisk’s patient assistance program, the company’s recently launched direct-to-consumer online pharmacy and drug savings company GoodRx, among other platforms. It comes after Trump in July sent separate letters to Novo Nordisk and 16 other drugmakers, calling on them to take steps to lower medication prices in the U.S.

Home prices are being slashed across the US as the housing market cools — with one city seeing them plunge almost seven percent. In July, prices dropped year-over-year in 14 of the 50 most populous US cities — with Florida, California and Texas hit hard, reports Redfin. 'Sellers need to come to terms with two things,' said Redfin agent James Gulden. 'Homes are going to sit longer, and buyers are gaining the upper hand.' Homes are lingering for weeks or months — a stark contrast to the days of bidding wars and same-day offers... the lower prices combined with a...

On Tuesday, the yield on the 10-year Treasury surged nearly 10 basis points in a few hours, rising above 4.49 percent. The rising yield came after the release of new price-inflation data showing that CPI growth had hit a five-month high and remained well above the Federal Reserve’s two-percent target for price inflation. Rising yields often indicate that bond investors believe price inflation will continue to grow, so it was probably no coincidence that bond yields—especially on longer-term bonds—jumped following the report’s release. Whatever the reason behind the rising yield, this is bad news for those who were looking for...

The Democratic National Committee (DNC) drew widespread mockery Thursday over a since-deleted social media post that showed how the cost of groceries skyrocketed under former President Joe Biden. The X post included a graph of soaring cheese, alcohol, dairy, grocery, produce and meat prices dating back to October 2019, with the major inflection point being near the start of the Biden administration in 2021. “Trump’s America,” read the tweet shared by @TheDemocrats. “Prices are higher today than they were on July 2024 all in major categories listed below,” read the caption on the graphic, which did not note the source...

London CNN — Extreme weather caused by climate change is driving up the prices of basic food products worldwide and posing wider risks to society, a new study has found. The cost of a wide range of goods – from vegetables in California to coffee in Brazil – saw dramatic spikes in recent years due to weather conditions that were “so extreme they exceeded all historical precedent prior to 2020,” according to the study led by Maximillian Kotz of the Barcelona Supercomputer Center. Previous studies have examined how high temperatures have affected the cost of food produce in the long...

Gas prices often increase in the summer as more motorists hit the road, but this year’s pump prices have dropped to match the summer of 2021, the last time seasonal gas prices were this low. The national average is down about 3 cents per gallon from last week, returning to the price from a month ago, $3.16. One year ago, gas prices were at $3.574. Gas prices were also at a four-year low on Independence Day. The White House is attributing the phenomenon to President Donald Trump’s energy agenda, which Energy Secretary Chris Wright told The Daily Signal can be...

On a sweltering morning as tourists line up for pictures with the famous welcoming sign, one topic of conversation dominates: when did Las Vegas become so expensive? Hannah Warren, a 50-year-old assistant costume designer from Essex, was still reeling from paying $33 for coffee and a bagel at the Fontainebleau hotel. Gary Langlois, a 65-year-old retired salesman from Minneapolis, paid $40 for two coffees and a couple of croissants. That is on top of the resort fees, parking charges and various other costs that have become a fact of life for Las Vegas tourists. Now, after a post-pandemic boom, there...

U.S consumer prices barely rose at all in May, the fourth straight month of mild inflation and a sign that the Trump administration’s tariffs have not raised prices on American households. The consumer price index, the government’s main inflation indicator, 0.1 percent compared with a month earlier, the Department of Labor said Wednesday. Core prices, a measure that excludes volatile food and energy prices, also climbed just 0.1 percent. Compared with a year ago, consumer prices are up 2.4 percent. Core prices have risen 2.8 percent. Economists had forecast prices would rise 0.2 percent, matching the tame inflation figure reported...

Brief represents the first time the Trump administration has weighed in on green investing issues.. The Federal Trade Commission is throwing its weight behind a high-profile federal lawsuit led by 12 Republican-led states accusing three of the world's largest asset managers—BlackRock, State Street, and Vanguard—of artificially constricting the coal market in violation of U.S. antitrust laws, the Washington Free Beacon has learned. The filing in the case is a remarkable move that represents the first time the Trump administration has waded directly into an issue or case related to environmental, social, and governance (ESG) policies. Led by powerful asset managers...

July arabica coffee (KCN25) Friday closed down -9.35 (-2.49%), and July ICE robusta coffee (RMN25) closed down -106 (-2.13%). Coffee prices on Friday fell sharply, with robusta posting a 5-week low. Signs of bigger coffee supplies are weighing on prices after Safras Mercado on Friday reported that Brazil's 2024/25 coffee sales were 97% done as of May 13, above the 94% from the same time last year. An increase in current coffee inventories is also pressuring coffee prices. ICE-monitored robusta coffee inventories rose to a 7-1/2 month high Friday of 4,890 lots. Also, ICE-monitored arabica coffee inventories rose to a...

Import prices ticked up slightly in April, driven by higher costs for nonfuel goods even as fuel prices continued to slide, according to data released Friday by the Bureau of Labor Statistics. The Import Price Index rose 0.1 percent in April, following a 0.4 percent decline in March. Over the past year, import prices were up just 0.1 percent. But excluding fuel, prices for imported goods rose 0.4 percent in April and were up 1.2 percent from a year earlier, suggesting continued resilience in U.S. demand for foreign goods despite the implementation of new tariffs in early April. The Trump...

Prices paid to U.S. producers of goods and services unexpectedly declined in April, defying predictions that tariffs would reignite inflation. The producer price index for final demand fell 0.5 percent last month, the Labor Department said on Thursday, the largest decline since April of 2020. Economists had forecast a 0.2 percent increase for the month. The prior month’s reading was revised up from a decline of 0.4 percent to flat. Compared with a year ago, the producer price index (PPI) is up 2.4 percent, in line with expectations. In March, the index was up 2.7 percent. The producer price index...

The anti-science freak-out predicting President Donald Trump’s tariffs would explode consumer prices has now been debunked as yet another legacy media hoax. The far-left Politico grudgingly admits: “Trump tariffs have little impact on prices so far, defying grim forecasts,” reads the headline. “Inflation climbed at the slowest pace since early 2021 in April, surprising economists who anticipated tariff-related increases,” reads the sub-headline. Notice how the propagandists at Politico lay the blame on “economists” for getting this wrong. But when the media cherry-pick the economists and experts to quote, the media are equally guilty. We all know how this game is...