Consumers cut back on eating out, entertainment, wellness
INDIANAPOLIS (WISH) — New inflation numbers gave the Dow Jones Industrial Avenue a big one-day boost on Thursday.
The consumer price index is another gauge of inflation. It saw its lowest annual increase since January.
The Dow saw its largest one-day gain in two years.
October CPI Rise
October’s CPI rose just 0.4% for the month, rising 7.7% so far for the year.
Economists expected those number to be higher. Investors hope the news will convince the Federal Reserve to put the brakes on their rate hikes, which if continued, could send the economy into a recession.
Consumer price index
The consumer price index report had some bad news, though. Shelter costs went up 7% on the year, and 0.8% for the month of October. That’s the largest monthly rise since 1990.
Many homeowners say they’re now cutting back on eating out, entertainment, and wellness to make their payments
Thanksgiving meal costs
Your Thanksgiving meal will cost much more this year than last. One economist says you might actually save money by eating out.
Eggs cost 43% more; butter is up 33%. Turkey prices are 17% higher.
Nine out of 10 people say their menu at home will remain the same.
Wendy’s new holiday treat
The fast-food giant, Wendy’s, will sell its first-ever holiday Frosty milkshake.
You can get a peppermint Frosty for a limited time.