Tuesday’s business headlines
INDIANAPOLIS (WISH) — Here’s a look at Tuesday’s business headlines with Jane King.
Average gas price rises to $4.16 in central Indiana
Average gasoline prices are on the rise nationally and in the Hoosier State.
According to GasBuddy, the national average increased 11 cents per gallon in the past week to $3.78.
AAA says the current average price for a gallon of unleaded gas in central Indiana is $4.16 per gallon, up from $3.97 a week ago.
Home prices dropping at fastest pace since 2009
U.S. home prices are dropping at the fastest pace since 2009, according to analysts at Black Knight.
Black knight says median home prices are down 2% since their June peak.
The once red-hot housing sector is in the midst of a severe correction as the Federal Reserve continues to raise interest rates.
Report: Zelle scams happening more often
Incidents of fraud and scams are occurring more often on the popular peer-to-peer payment service, Zelle.
A U.S. Senate report found the large banks that partly own Zelle have been reluctant to compensate customers who have been victims of fraud or scams.
About 1,700 banks and credit unions nationwide use Zelle.
Farmers predict plentiful pumpkin harvest
A plentiful pumpkin harvest is expected because of what farmers believe is an “acceptable range of weather extremes” during the crucial growing period.
Pumpkins are typically planted in the late spring and early summer and harvested during the fall in growing regions across the country that stretch from the northeast to the west coast.
Illinois is the largest pumpkin producer, generating over 40% of the country’s crop as part of the over billion-dollar commodity.
According to Purdue University, Indiana consistently ranks in the top five pumpkin-growing states.
FDA unveils new rules for ‘healthy’ nutrition labels
The Food and Drug Administration announced new rules for nutrition labels that can go on the front of food packages to indicate that they are “healthy.”
Under the proposal, manufacturers can label their products “Healthy” if they contain a meaningful amount of food from at least one of the food groups or subgroups–such as fruit, vegetable or dairy–recommended by the dietary guidelines.