Average US gas price dips below $5 a gallon

new York CNN Business — US drivers got a slight — very slight — break on prices this weekend as the AAA average for a gallon of unleaded gas fell below the $5 mark. The average price Sunday was $4.98 a gallon, down from $4.99 in Saturday’s reading. The average gas price had been $5 … Read more

Global markets and US stock futures turn lower after Fed rate hike

Hong Kong CNN Business — European markets and US stock futures fell Thursday, a day after the Fed got tough on inflation with its biggest rate hike since 1994. France’s CAC 40 (CAC40) fell 2.3%, and Germany’s DAX (DAX) 2.7%, while the FTSE 100 (UKX) slipped 2.6%. US stocks had closed higher on Wednesday after … Read more

Two more states hit $5 a gallon gas prices

new York CNN — The gas price spike keeps getting worse. The national average jumped to $4.87 a gallon on Monday, according to AAA. That’s up 25 cents in the past week and 59 cents in the past month. There are now 10 states where the average price of gasoline is $5 a gallon or … Read more

Your Memorial Day BBQ is going to cost you a lot more this year

new York CNN Business — People who got an early jump on their Memorial Day barbecue shopping may have noticed something alarming: Prices are up. Way up. Sticker shock is everywhere, from burgers to buns, from ketchup to mustard. The good news is there some Price relief at stores now. In the four weeks through … Read more

‘Lunchflation’ is real. Returning to the office is costing us a fortune

Millions of employees started working remotely after the pandemic first took hold in 2020. But now, more people are returning to the office – and they’re being greeted by much higher prices for just about everything. foods commuting daycare. Rising gas prices and soaring inflation have made going back to the office more expensive. And … Read more

UK inflation hits 40-year high of 9%

British inflation leapt last month to its highest annual rate since 1982, piling pressure on finance minister Rishi Sunak to step up help for households facing a worsening cost-of-living crisis. Consumer price inflation hit 9% in April, the Office for National Statistics said, surpassing even the peaks of the early 1990s recession that many Britons … Read more

Home Depot’s strong quarter shows housing market is still booming

new York CNN Business — Home Depot has a message for all of the economic naysayers: Hold my plywood. The home improvement retail giant reported better-than-expected gains in sales and earnings for the first quarter Tuesday and lifted its outlook for the rest of this fiscal year. Shares of Home Depot (HD), one of the … Read more

$5 gas could become widespread as prices hit another record

new York CNN Business — Prices at the pump continue to shatter records ahead of Memorial Day weekend. The national average for regular gas hit a fresh record of $4.48 a gallon Monday, according to AAA. That marks an increase of 15 cents in the past week and 40 cents in a month. Gas prices … Read more