With prices surging worldwide for heating oil, natural gas and other fuels, the U.S. government expects households to see heating bills jump as much as 54% compared to last winter.

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Another surge in consumer prices in September sent inflation to 5.4% from a year ago, matching the highest such rate since 2008 as tangled global supply lines continue to create havoc.

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Several disruptions to the U.S. economy appear likely to endure, a group of business owners and nonprofit executives told Federal Reserve Chair Jerome Powell.

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Consumer prices rose a lower-than-expected 0.3% last month, the smallest increase in seven months and a hopeful sign that inflation pressures may be cooling.

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Inflation at the wholesale level jumped a higher-than-expected 1% in July, matching the rise from the previous month.

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Federal Reserve Chair Jerome Powell said inflation “will likely remain elevated in coming months" before “moderating."

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Prices for U.S. consumers jumped in June by the most in 13 years.

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In terms of inflation, a big and sustained gain in wages would be even more dangerous than the price spikes already seen for oil and other commodities.

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Consumer spending was flat in May, while inflation posted a sizable gain of 0.4%.

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Small businesses that endured shutdowns and lower revenue during the COVID-19 outbreak now must contend with another crisis: spiking prices for goods and services that squeeze profits and force many owners to pass the increases along to customers. Mickey Luongo’s ...

Tagged with: inflation Small business