Consumer prices rise in January
Marketplace All-in-One
Marketplace
4.5 • 1.4K Ratings
🗓️ 13 February 2024
⏱️ 1 minutes
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Summary
Stocks fall; inflation remains above the Federal Reserve’s target; small business optimism declines; Hasbro revenue falls.
Transcript
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| 0:00.0 | This is the Marketplace Minute. I'm Justin Ho. |
| 0:05.0 | Stocks closed down by a lot on Tuesday, after the Labor Department reported that consumer prices rose 3 tenths percent in January. |
| 0:12.0 | The Dow and the S&P lost more than 1 and 1 3rd percent, and the NASDAQ fell 1 and 8 10 percent. Consumer prices rose in January at a faster rate than in December. About two-thirds of the increase was because of the rising |
| 0:25.1 | cost of shelter. Over the last year, prices were up 3.1%. That's a smaller 12-month increase |
| 0:31.0 | than the month before, but it's still above the Federal Reserve's inflation |
| 0:34.4 | target of 2%. Small businesses surveyed by the National Federation of Independent Business |
| 0:40.0 | were less optimistic in January than in December. |
| 0:43.0 | Respondents mostly blamed inflation. |
| 0:45.7 | And the toy company Hasbro says revenue fell last quarter compared to the same time a year ago. |
| 0:50.4 | Demand for toys has been weak and the company has been trying to get rid of excess inventory. |
| 0:55.0 | I'm Justin Ho with the marketplace minute. You're going to. |
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