inflation

Businesses on East Fourth Street in Cleveland are challenged by worker shortages and higher prices. Learn more about how they're navigating this labor and economic climate.

Consumer prices in March were up 5% from a year ago. While inflation has eased from a four-decade high last summer, prices are still rising faster than the Federal Reserve would like.

Speaking before the Senate Banking Committee, Powell warned the central bank may have to raise interest rates even more, sending stock markets sharply lower.

Annual inflation cooled in January for the seventh month in a row. But price increases accelerated between December and January, fueled by rising shelter, food and gasoline prices.

The Stark County Community Pulse Report is conducted by the Center for Marketing and Opinion Research.

Attempts to reign in inflation have led to interest rates rising to about 5%, higher than the pandemic lows of around 3%.

A lot of food never makes it to a grocery store, it languishes in a warehouse. So what happens next? Sometimes it’s donated to food banks. A lot of it is thrown away. But some make their way to outlet grocery stores, which have seen a jump in business due to inflation.

The U.S. The Department of Agriculture released a report this month that predicts food prices will increase by about 7% by the end of the year. Low-income families will be impacted the most.

The Center for Inflation Research is housed at the Cleveland Fed, and its director believes we're not seeing a replay of '70s mega-inflation.