Thursday’s business headlines

INDIANAPOLIS (WISH) — Here’s a look at Thursday’s business headlines with Jane King.

Inflation shows year-over-year increase of nearly 9%

New numbers show that inflation increased year-over-year by 8.5%.

Energy costs were down in July, but food prices and housing remained high.

Meanwhile, inflation could give Social Security recipients a $1,900 increase next year.

Average gas price falls below $4 per gallon

The average price of a gallon of unleaded gasoline in the U.S. fell below $4 a gallon Wednesday, a 21% drop from June’s peak, as demand for oil softens around the globe.

The national average stood at $3.99 a gallon Wednesday afternoon, according to OPIS.

AAA says the current average in central Indiana is around $3.84 per gallon.

Prices increasing for Hulu, Disney+

Prices for Disney+ and Hulu will be going up in December for U.S. subscribers.

Disney+ signed up 14.4 million new subscribers in the quarter for a total of 152.1 million.

The Disney bundle, which includes Hulu with ads, Disney+ with no ads, and ESPN+, will go up a dollar to $14.99 a month.

As previously announced, the price of ESPN+ will increase by a whopping 43% on Aug. 23 to $9.99 a month.

Facebook hemorrhaging teen users

Facebook is still hemorrhaging teen users.

A Pew Survey says young people are spending their time on TikTok, Snapchat, and Instagram instead.

The social media site is now used by less than a third of U.S. teenagers.

That’s down from 71% of teens in 2014-2015 and 51% in 2018.

Samsung unveils fourth generation of foldable smartphones

Samsung just unveiled its fourth generation of foldable smartphones for as low as $99.99.

Consumers can pick up the Galaxy Z Flip4 for $99.99 and the Galaxy Z Fold4 for $799.99, if they pre-order the phones before Aug. 25 with an eligible trade-in.

The Galaxy Z Flip4, Galaxy Z Fold4, and Galaxy Buds2 Pro are partly constructed with recycled ocean-bound plastics from discarded fishing nets.