Scott Horsley - NPR

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Inflation is top issue in this week’s midterms

Rising prices are the number one concern for voters in this year's midterm elections, outpacing abortion, crime and other hot-button issues.
a close up photo of a person's hand filling up a gas tank

Inflation is cooling thanks to gas prices, but many things still cost a lot more

Falling gasoline prices put a dent in the July inflation rate, which fell to 8.5% from 9.1% in June. But other costs such as housing continue to climb, putting a strain on many family budgets.
a gas pump

Gas prices are finally dropping. Here are 4 things to know.

The average price of gasoline nationwide is expected to drop below $4 a gallon in the coming days as prices continue to fall from the record highs hit in June.
gas prices on a gas station sign

No retreat in the summer heat. Inflation blistering at 9.1% in June.

Inflation hit a new, four-decade high of 9.1% last month, fueled in part by record high gasoline prices. Gas prices have since fallen, but overall inflation is still elevated.
a man looks at a computer

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

The Federal Reserve raised interest rates by three-quarters of a percentage point Wednesday in an effort to combat stubbornly high inflation. It's the biggest rate increase in 28 years.
A woman shops for baby formula at Target in Annapolis, Maryland, on May 16, 2022, as a nationwide shortage of baby formula continues due to supply chain crunches tied to the coronavirus pandemic that have already strained the countrys formula stock, an issue that was further exacerbated by a major product recall in February. (Photo by Jim WATSON / AFP) (Photo by JIM WATSON/AFP via Getty Images)

How the U.S. got into this baby formula mess

Just a handful of formula makers dominate the industry so a single plant shutdown can lead to empty shelves.
a person at a gas pump

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

The Federal Reserve raised interest rates by half a percentage point Wednesday, in an effort to cool off demand and lower inflation. Consumer prices have been rising at the fastest pace in 40 years.
A shopper wheels a shopping cart down a supermarket aisle

How soaring inflation forces stark choices

From rising rent to higher heating bills, surging inflation impacts everybody, but it poses a particular hardship for people with little extra money to spare.
gas prices

Gas prices surge to above $4 a gallon, near a national record

The prospect that the U.S. and its allies could impose new sanctions on Russian oil pushed energy prices sharply higher. The average price of gasoline in the U.S. hit $4.06 per gallon.
A line of jeeps for sale.

Inflation surges to its highest since 1990

Consumer prices were 6.2% higher in October than a year ago as inflation continues to chip away at the buying power of households across the country.

Millions lose jobless benefits this week. It doesn’t mean they’ll be rushing back to work.

Millions of Americans are losing a lifeline as pandemic unemployment benefits expire. Research suggests the loss of aid won't do much to push people back to work, but may lead to a drop in spending.
A waiter in an apron and a face mask delivers food to a table.

Wages are going up and so is inflation. Consumer prices have hit a 13-year high.

Consumer prices rose 5.4% in the 12 months ending in July, matching the highest rate of inflation in nearly 13 years. The cost of rent, food and gasoline continues to climb.

Inflation is still high. Used car prices could help explain what happens next.

The prices dealers pay for used cars at massive auctions across the country finally dipped in June after hitting record highs in each of the four previous months, according to the Manheim Used Vehicle Value Index.

What the rise and fall of lumber prices tell us about the pandemic economy

Over the past two months, lumber prices have been dropping fast, giving weight to the central bank's argument that pandemic price spikes for many products are likely to be temporary.