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At first, it didn’t even register as a threat. Then it seemed like a temporary annoyance. Now, inflation is delivering sticker shock to Americans at the supermarket, the gas station and more. Here’s what’s causing it, and how long it might last. http://apne.ws/sy7eHpD
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A strong job market is boosting wages, though not enough to compensate for higher prices. Read more from
@AP about what the spike in inflation means, and how it will affect consumers. http://apne.ws/sy7eHpDShow this threadThanks. Twitter will use this to make your timeline better. UndoUndo -
Elevated consumer price inflation will likely endure as long as companies struggle to keep up with consumers’ demand for goods and services. Many economists see inflation staying well above the Fed’s 2% target this year.
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Much of the surge is the consequence of the economy rebounding from the coronavirus pandemic recession earlier than expected. Costs rose, and the global supply chain became snarled as business roared back.pic.twitter.com/htgSKPCmpK
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It wasn’t supposed to be this way. Just over a year ago, the Federal Reserve had forecast that consumer prices would end 2021 only about 1.8% higher than they were a year earlier, below even its annual 2% inflation target. http://apne.ws/sy7eHpD
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As restaurants and hotels are forced to pay much more to attract and keep workers, the cost of eating out and staying at hotels is also rising.https://apnews.com/article/restaurants-squeezed-omicron-labor-shortages-food-costs-acf43f8e1bc9cdccc6e85dd699d99edc …
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Rents are also rising faster now as pricier homes have forced more would-be buyers into apartments. Economist say higher housing costs could keep inflation elevated through this year.https://apnews.com/article/lifestyle-business-health-coronavirus-pandemic-c7f2cad9c88a0ef08d7e63152de51eb4 …
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Unleaded gas prices are up 50.8% from last year, bacon prices are up nearly 19% and renting a car will cost you 36% more on average than it did in December 2020.pic.twitter.com/DLDP7zPQJH
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BREAKING: The U.S. Army, for the first time, is offering a maximum enlistment bonus of $50,000 to highly skilled recruits who sign up for six years. The service is struggling to lure soldiers into certain critical jobs amid the continuing pandemic.http://apne.ws/EvKD4TA
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The Associated Press Retweeted
Alana Haim says there was no attempt to mask herself with makeup in
#LicoricePizza. "We wanted to show what real people looked like. I have acne now, to this day."pic.twitter.com/N3nIVpYWuYAlana Haim on hair and makeup in "Licorice Pizza"Thanks. Twitter will use this to make your timeline better. UndoUndo -
The Biden administration is slapping sanctions on five North Korean officials in response to Pyongyang's latest ballistic missile test. The move comes hours after North Korea said its leader Kim Jong Un oversaw a successful test of a hypersonic missile.http://apne.ws/WDTV74x
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The Associated Press Retweeted
Snow nice: Sculptors from all around Russia have gathered in Novosibirsk for the Siberia Snow Sculpture festival. http://apne.ws/MS2DacO
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Prime Minister Boris Johnson tried to assuage a tide of anger from the public and politicians by apologizing for attending a garden party during Britain’s first coronavirus lockdown. But the scandal could become a tipping point for Johnson.http://apne.ws/MZ3STML
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Suspicion, misinformation and other factors have combined to produce what authorities say are alarmingly low COVID-19 vaccination rates in U.S. children ages 5 to 11. As of Tuesday, just over 17% of these youngsters were fully vaccinated.http://apne.ws/mdsIgV0
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The Associated Press Retweeted
Michael B. Jordan (
@michaelb4jordan) says Denzel Washington gave him pointers for his "Creed III" directorial debut. "He's willing to do anything to help."pic.twitter.com/tA9YRw2XnIMichael B. Jordan on Denzel Washington adviceThanks. Twitter will use this to make your timeline better. UndoUndo -
Zimbabwe has long struggled with high teenage pregnancy rates. The numbers have shot up further during the pandemic. The country changed a law to allow pregnant students to remain in school - but so far, it's failing. Few girls are returning. http://apne.ws/4l3LZM0 pic.twitter.com/CcCvwtQozW
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For two years, coronavirus case counts and hospitalizations have been widely used barometers of the pandemic. But the omicron wave is making a mess of the usual statistics, forcing news organizations to rethink the way they report such figures.http://apne.ws/NvVC0Dr
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Democrats are speaking out against school closures even as the omicron variant puts additional pressure on public schools. Even though fewer schools are closed than last year, Democrats fear the party could be vulnerable in November if closures persist.http://apne.ws/nkgd4US
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The Associated Press Retweeted
Friends and colleagues are paying tribute to former Sen. Harry Reid whose casket is lying in state at the U.S. Capitol. The Democrat who served five terms in the Senate and rose to be majority leader died last month at age 82.http://apne.ws/L7kowGQ
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The Associated Press Retweeted
Buoy scout: A tourist made a bad impression in a Key West bar by ordering drinks and not leaving a tip. The memory stuck with the bartender, who helped police identify the Christmas tree arsonists who damaged the city's iconic buoy. http://apne.ws/39fOzIv
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