This Valentine’s Day, a not-so-sweet chocolate economy
Marketplace All-in-One
Marketplace
4.5 • 1.4K Ratings
🗓️ 14 February 2024
⏱️ 7 minutes
🧾️ Download transcript
Summary
Lovers and chocolate lovers beware: If you’re eyeing a heart-shaped box of chocolates for Valentine’s Day, those bonbons are going to come at a cost. Cocoa prices recently hit an all-time high and sugar prices have spiked too. Rather bittersweet, huh? But first, Tuesday’s inflation data headed in the wrong direction — and markets were not pleased. Plus, why does Walmart want to buy bargain television brand Vizio?
Transcript
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| 0:00.0 | Inflation is not vanquished what that means for the economy. |
| 0:06.0 | From Marketplace, I'm Sabrie Beneshore and for David Brancaccio. |
| 0:10.0 | We got the latest inflation data yesterday and as you may have heard it was worse than expected. |
| 0:15.4 | The consumer price index was higher in January than it was in December. |
| 0:19.7 | That is the wrong direction. |
| 0:22.0 | Year-over-year inflation was up 3.1 percent that at least was an |
| 0:25.6 | improvement over December's but the fact is we are still above the Federal Reserve's |
| 0:29.4 | ideal inflation rate of 2 percent. Markets were not pleased. |
| 0:34.0 | The S&P 500 and the Dow both fell 1.4%. |
| 0:37.0 | The NASDAQ fell 1.8%. |
| 0:40.0 | For more, let's turn to Ben Kumar. |
| 0:42.0 | He's head of equity strategy at seven investment |
| 0:44.2 | management good morning good morning so can we take a moment just to walk everyone |
| 0:49.5 | through the why behind why stock markets didn't really like the fact that fighting inflation appears to be |
| 0:56.5 | taking longer than expected. |
| 0:58.7 | Yeah, the really simple way to think about it is that when inflation is high the Federal |
| 1:07.8 | Reserve will try and get inflation lower usually by raising interest rates. |
| 1:14.0 | What they're trying to do is suck a little bit of the excitement out of the economy. |
| 1:21.1 | And we can all kind of see how that that works. You know higher interest rates |
| 1:24.9 | mean that borrowing is a bit more expensive so we're a little bit less likely to go and |
| 1:30.2 | borrow and spend money and it also means that savings accounts are a little bit more |
| 1:34.6 | attractive. We might want to put a little bit more money in the bank to earn a bit of interest. |
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