Yes, your wallet is getting thinner --- fast, observes Grumpy Editor.
In the latest reporting period, November’s 5.7 percent increase in Consumer Prices over the past year is the fastest pace since July, 1982.
That increase, reported by the Commerce Department, follows a 5.1 percent rise for the 12 months ended in October, continuing a string of annual price gains that have run well above the 2 percent inflation target set by the Federal Reserve.
IN CASE YOUR FAVORITE NEWS OUTLETS MISSED THESE…
ASTEROID NEARS EARTH. A “potentially hazardous” asteroid more than twice the height of New York’s Empire State Building will make a close encounter with Earth on Jan. 18. It won’t occur again for another 200 years.
CEOs WORRY ABOUT JOBS. A survey finds 72 percent of chief executive officers are worried about losing their jobs in 2022 because of business disruptions. “That’s eye-poppingly high,” says Simon Freakley, CEO of management consulting firm AlixPartners, source of the survey.
FRANCE PUSHES MORE DAYS WORKING FROM HOME. France will make working from home compulsory three days a week to contain the spread of the omicron variant. This is the second time during the pandemic that France has set such a rule, first doing so between March and May of last year.
COFFEE SHOPS IN ICELAND. In case you are planning a trip to Iceland, Forbes runs an article detailing the top seven coffee shops in Reykjavik, Iceland selected “for their comfy ambiance, top-notch coffee, and easy access for exploring other attractions and sites around the city.”
ALASKA ISLAND GETS WARM. Kodiak Island in southern Alaska hit 67 degrees last week, warmer than it was in Southern California on that day. It was the warmest December day in Alaska, according to the National Weather Service in Anchorage. Statewide temperature records in Alaska date back to 1953.
BANK MAKES SURPRISE DEPOSITS. Two thousand business accounts receive a surprise gift totaling the equivalent of $176 million from Santander bank in the U.K. Seems the accounts were processed twice in a “scheduling issue” that the bank says has been corrected.
COVID-19 IMPERILS TV SPORTS. High Covid-19 cases imperils as much as $400 million in college playoff commercials for ESPN sports network because of the growing risk of games being cancelled.
