inflation

U.S. retailers cut prices but services keep inflation hot

U.S. retailers cut prices but services keep inflation hot

WASHINGTON, June 9 (Reuters) – Major U.S. retailers like Target Corp (TGT.N) and Walmart Inc (WMT.N)have been cutting prices to clear overstocked warehouses, but hotel revenue is pouring in as daily room rates and occupancy have broken above pre-pandemic levels. Used car prices are no longer surging at the chart-topping pace that drove an initial …

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Social Security official: Benefits likely to rise 8% due to high inflation

Social Security official: Benefits likely to rise 8% due to high inflation

An official with the Social Security Administration said seniors and others who rely on the benefits program are likely to receive a cost-of-living adjustment “closer to 8%” at the end of 2022 due to the current rate of inflation, which is the highest in four decades.  That increase would represent the biggest-cost-of-living adjustment, or COLA, …

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