Inflation remains above the Fed’s target
Marketplace All-in-One
Marketplace
4.5 • 1.4K Ratings
🗓️ 29 February 2024
⏱️ 1 minutes
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Summary
Stocks closed higher; consumer prices not including volatile categories rose 2.8% in January and incomes rose 1%; new unemployment claims rose.
Transcript
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| 0:00.0 | This is the Marketplace Minute. I'm Justin Ho. Stocks closed higher on Thursday. The Dow |
| 0:07.6 | gained a tenth of a percent, the S&P Rose half a percent, and the NASDAQ added 9 tenth percent. The prices consumers paid |
| 0:15.6 | for goods and services rose in January by 3 tenths percent according to the |
| 0:20.0 | Bureau of Economic Analysis. Over the last year prices were up 2.8% when you strip out the |
| 0:25.4 | volatile food and energy categories. That year-over-year inflation figure has been coming |
| 0:30.5 | down over the last few months, but it's still higher than the Federal Reserve's inflation target. |
| 0:36.0 | The same report found that people's incomes have been rising to, up 1% in January from the month before. |
| 0:42.0 | Part of that was because Social Security benefits |
| 0:44.0 | went up. And the number of people signing up for unemployment benefits rose last week to |
| 0:48.6 | 215,000. That's according to the Labor Department. The number of continuing claims rose too. |
| 0:54.6 | I'm Justin Ho with the Marketplace Minute. You're going to. |
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