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Newspaper
Lawrence Journal World
Location
Lawrence, Kansas, United States of America
Date
Apr 03, 2022
Page
12
The Commerce Department reports a 6.4% year over year rise in February, with food and energy costs driving the spike. Core inflation rose 5.4% excluding food and energy, while spending barely grew and inflation-adjusted spending fell, even as incomes rose 0.5% and wages increased.
President Biden releases a 5.8 trillion dollar next year budget aimed at reducing deficits and funding social programs. It includes 2.5 trillion in tax increases over ten years centered on high income earners and corporations, including a 20 percent minimum tax on families worth 100 million or more. Senate leaders promote it as fiscal responsibility and middle class support, hoping for revived talks with Manchin.
President Biden orders daily release of 1 million barrels from the strategic reserve for six months to ease energy costs after sanctions on Russia. He cautions declines in gasoline prices are uncertain but could range from 10 to 35 cents per gallon amid 4.23 dollar averages.
Industry rankings inform that values below one hundred dollars are displayed to scale. The chart highlights pricing bands and relative positions of items under the 100 dollar threshold to aid quick comparison.
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