WASHINGTON – A new report shows persistently higher prices across America have risen yet again – a sign the Federal Reserve’s drive to slow inflation to its two percent target will likely remain a bumpy one.
Thursday’s report from The U.S. Department of Labor shows overall prices rose another 3.4 percent from a year ago.
More than half the increase in prices from November to December reflected higher housing costs. Energy costs, along with food prices, also contributed to inflation.
A survey shows Americans of different racial backgrounds agree the government should prioritize the economy and foreign policy issues this election year.
For mom Megan Cherry in Temple Terrace, Florida, feeding a family of six means cutting what makes it into the grocery cart.
“Everybody eats a lot of things and making sure we have enough for everybody and everybody’s preferences as much as we can,” Cherry said. “Things that aren’t necessary for meals are kind of getting cut out.”
Inflation has cooled in recent months but remains top of mind for many Americans, like the Cherry family.
Thursday’s report from the Labor Department showed that overall prices rose point three percent from November. Despite steady economic growth, low unemployment, and healthy
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