- Source: CNN Business " data-fave-thumbnails="{"big": { "uri": "https://media.cnn.com/api/v1/images/stellar/prod/200827104735-jerome-powell-boost-inflation-speech-screengrab-08272020.jpg?q=x_4,y_0,h_1078,w_1915,c_crop/h_540,w_960" }, "small": { "uri": "https://media.cnn.com/api/v1/images/stellar/prod/200827104735-jerome-powell-boost-inflation-speech-screengrab-08272020.jpg?q=x_4,y_0,h_1078,w_1915,c_crop/h_540,w_960" } }" data-vr-video="false" data-show-html="" data-byline-html="
" data-timestamp-html="
Published 9:39 AM EDT, Fri September 11, 2020
" data-check-event-based-preview="" data-is-vertical-video-embed="false" data-network-id="" data-publish-date="2020-08-27T15:04:50Z" data-video-section="business" data-canonical-url="https://www.cnn.com/videos/business/2020/08/27/jerome-powell-boost-inflation-and-keep-interest-rates-low.cnn-business" data-branding-key="" data-video-slug="jerome powell boost inflation and keep interest rates low" data-first-publish-slug="jerome powell boost inflation and keep interest rates low" data-video-tags="banking, finance and investments,business, economy and trade,economic conditions,economic indicators,economy and economic indicators,government organizations - us,inflation,interest rates,the fed,us federal departments and agencies,us government independent agencies" data-details="">
In a speech on August 27th, Jerome Powell indicated the Federal Reserve won't rush to lift interest rates, even if inflation starts to pick up.
Powell explains the Fed's mission to boost inflation
01:11 - Source: CNN Business
Economy 15 videos
- Source: CNN Business " data-fave-thumbnails="{"big": { "uri": "https://media.cnn.com/api/v1/images/stellar/prod/200827104735-jerome-powell-boost-inflation-speech-screengrab-08272020.jpg?q=x_4,y_0,h_1078,w_1915,c_crop/h_540,w_960" }, "small": { "uri": "https://media.cnn.com/api/v1/images/stellar/prod/200827104735-jerome-powell-boost-inflation-speech-screengrab-08272020.jpg?q=x_4,y_0,h_1078,w_1915,c_crop/h_540,w_960" } }" data-vr-video="false" data-show-html="" data-byline-html="
" data-timestamp-html="
Published 9:39 AM EDT, Fri September 11, 2020
" data-check-event-based-preview="" data-is-vertical-video-embed="false" data-network-id="" data-publish-date="2020-08-27T15:04:50Z" data-video-section="business" data-canonical-url="https://www.cnn.com/videos/business/2020/08/27/jerome-powell-boost-inflation-and-keep-interest-rates-low.cnn-business" data-branding-key="" data-video-slug="jerome powell boost inflation and keep interest rates low" data-first-publish-slug="jerome powell boost inflation and keep interest rates low" data-video-tags="banking, finance and investments,business, economy and trade,economic conditions,economic indicators,economy and economic indicators,government organizations - us,inflation,interest rates,the fed,us federal departments and agencies,us government independent agencies" data-details="">
In a speech on August 27th, Jerome Powell indicated the Federal Reserve won't rush to lift interest rates, even if inflation starts to pick up.
Powell explains the Fed's mission to boost inflation
01:11
Now playing
- Source: CNN Business
- Source: CNN " data-fave-thumbnails="{"big": { "uri": "https://media.cnn.com/api/v1/images/stellar/prod/230126103622-faa-system-outage.jpg?c=16x9&q=h_540,w_960,c_fill" }, "small": { "uri": "https://media.cnn.com/api/v1/images/stellar/prod/230126103622-faa-system-outage.jpg?c=16x9&q=h_540,w_960,c_fill" } }" data-vr-video="false" data-show-html=" Early Start " data-byline-html="
" data-timestamp-html="
Published 9:39 AM EDT, Fri September 11, 2020
" data-check-event-based-preview="" data-is-vertical-video-embed="false" data-network-id="" data-publish-date="2023-01-26T15:35:27Z" data-video-section="business" data-canonical-url="https://www.cnn.com/videos/business/2023/01/26/united-airlines-intv-ceo-es-romans-vpx.cnn" data-branding-key="" data-video-slug="united airlines intv ceo es romans vpx" data-first-publish-slug="united airlines intv ceo es romans vpx" data-video-tags="air transportation,airlines,aviation and aerospace industry,business and industry sectors,business, economy and trade,christine romans,companies,iab-air travel,iab-aviation industry,iab-business and finance,iab-industries,iab-travel,iab-travel type,misc people,transportation and warehousing,united airlines" data-details="">
A traveler looks at a flight information board at Ronald Reagan Washington National Airport on January 11, 2023 in Arlington, Virginia.
'The system is stressed to the max': United CEO weighs in on industry woes
03:26
Now playing
- Source: CNN
- Source: CNN " data-fave-thumbnails="{"big": { "uri": "https://media.cnn.com/api/v1/images/stellar/prod/230120135441-janet-yellen.jpg?c=16x9&q=h_540,w_960,c_fill" }, "small": { "uri": "https://media.cnn.com/api/v1/images/stellar/prod/230120135441-janet-yellen.jpg?c=16x9&q=h_540,w_960,c_fill" } }" data-vr-video="false" data-show-html=" Amanpour " data-byline-html="
" data-timestamp-html="
Published 9:39 AM EDT, Fri September 11, 2020
" data-check-event-based-preview="" data-is-vertical-video-embed="false" data-network-id="" data-publish-date="2023-01-20T19:31:09Z" data-video-section="business" data-canonical-url="https://www.cnn.com/videos/business/2023/01/20/debt-ceiling-us-economy-treasury-secretary-janet-yellen-amanpour-intl-vpx.cnn" data-branding-key="" data-video-slug="debt ceiling us economy treasury secretary janet yellen amanpour intl vpx" data-first-publish-slug="debt ceiling us economy treasury secretary janet yellen amanpour intl vpx" data-video-tags="budget deficits,business, economy and trade,christiane amanpour,debt ceiling,domestic alerts,domestic-business,domestic-us politics,economy and economic indicators,federal budget,federal budget deficit,government and public administration,government bodies and offices,government budgets,iab-business and finance,iab-economy,iab-political issues & policy,iab-politics,international alerts,international-business,international-us politics,janet yellen,misc people,political figures - us,political platforms and issues,politics,public debt,public finance,us federal government" data-details="">
Janet Yellen
Hear Janet Yellen's warning if debt ceiling agreement is not reached
02:54
Now playing
- Source: CNN
- Source: CNN " data-fave-thumbnails="{"big": { "uri": "https://media.cnn.com/api/v1/images/stellar/prod/230123171552-oliver-bate-allianz.jpg?c=16x9&q=h_540,w_960,c_fill" }, "small": { "uri": "https://media.cnn.com/api/v1/images/stellar/prod/230123171552-oliver-bate-allianz.jpg?c=16x9&q=h_540,w_960,c_fill" } }" data-vr-video="false" data-show-html="" data-byline-html="
" data-timestamp-html="
Published 9:39 AM EDT, Fri September 11, 2020
" data-check-event-based-preview="" data-is-vertical-video-embed="false" data-network-id="" data-publish-date="2023-01-23T22:18:01Z" data-video-section="business" data-canonical-url="https://www.cnn.com/videos/business/2023/01/23/banks-recession-europe-wef-davos-marketplace-europe-vpx.cnn" data-branding-key="marketplace-europe" data-video-slug="banks recession europe wef davos marketplace europe vpx" data-first-publish-slug="banks recession europe wef davos marketplace europe vpx" data-video-tags="banking institutions,banking, finance and investments,business, economy and trade,celebrities,continents and regions,domestic alerts,domestic-business,domestic-entertainment,domestic-international news,economic conditions,economic decline,economy and economic indicators,europe,iab-business,iab-business and finance,iab-business banking & finance,iab-economy,iab-financial crisis,iab-financial industry,iab-industries,international alerts,international-business,international-entertainment,recession,richard quest" data-details="">
oliver bate allianz
Bankers dig in as recession looms in Europe
06:21
Now playing
- Source: CNN
- Source: CNN " data-fave-thumbnails="{"big": { "uri": "https://media.cnn.com/api/v1/images/stellar/prod/230119153331-nightcap-011923-clip-1-16x9.jpg?c=16x9&q=h_540,w_960,c_fill" }, "small": { "uri": "https://media.cnn.com/api/v1/images/stellar/prod/230119153331-nightcap-011923-clip-1-16x9.jpg?c=16x9&q=h_540,w_960,c_fill" } }" data-vr-video="false" data-show-html="" data-byline-html="
" data-timestamp-html="
Published 9:39 AM EDT, Fri September 11, 2020
" data-check-event-based-preview="" data-is-vertical-video-embed="false" data-network-id="" data-publish-date="2023-01-20T11:06:04Z" data-video-section="business" data-canonical-url="https://www.cnn.com/videos/business/2023/01/19/nightcap-work-from-home-employers-clip-orig-nb.cnn" data-branding-key="nightcap" data-video-slug="nightcap work from home employers clip orig nb" data-first-publish-slug="nightcap work from home employers clip orig nb" data-video-tags="" data-details="">
nightcap 011923 Clip 1 16x9
Disney just threw down the gauntlet in the WFH battle
02:05
Now playing
- Source: CNN
- Source: CNN " data-fave-thumbnails="{"big": { "uri": "https://media.cnn.com/api/v1/images/stellar/prod/230117085501-abby-ehmann-iso.jpg?c=16x9&q=h_540,w_960,c_fill" }, "small": { "uri": "https://media.cnn.com/api/v1/images/stellar/prod/230117085501-abby-ehmann-iso.jpg?c=16x9&q=h_540,w_960,c_fill" } }" data-vr-video="false" data-show-html="" data-byline-html="
" data-timestamp-html="
Published 9:39 AM EDT, Fri September 11, 2020
" data-check-event-based-preview="" data-is-vertical-video-embed="false" data-network-id="" data-publish-date="2023-01-17T14:04:51Z" data-video-section="business" data-canonical-url="https://www.cnn.com/videos/business/2023/01/17/nyc-sober-bar-owner-cnntm-cprog-vpx.cnn" data-branding-key="" data-video-slug="nyc sober bar owner cnntm cprog vpx" data-first-publish-slug="nyc sober bar owner cnntm cprog vpx" data-video-tags="bars, pubs and taverns,brand safety-nsf alcohol,brand safety-nsf sensitive,business and industry sectors,business, economy and trade,continents and regions,food and beverage industry,food and drink,iab-attractions,iab-bars & restaurants,iab-business and finance,iab-dining out,iab-food & drink,iab-food industry,iab-industries,new york (state),new york city,north america,northeastern united states,restaurant and food service industry,restaurant industry,restaurants,the americas,united states" data-details="">
abby ehmann iso
Hear why this bar owner decided to open a non-alcoholic bar
03:35
Now playing
- Source: CNN
- Source: CNN Business " data-fave-thumbnails="{"big": { "uri": "https://media.cnn.com/api/v1/images/stellar/prod/230112173622-job-report.jpg?c=16x9&q=h_540,w_960,c_fill" }, "small": { "uri": "https://media.cnn.com/api/v1/images/stellar/prod/230112173622-job-report.jpg?c=16x9&q=h_540,w_960,c_fill" } }" data-vr-video="false" data-show-html="" data-byline-html="
" data-timestamp-html="
Published 9:39 AM EDT, Fri September 11, 2020
" data-check-event-based-preview="" data-is-vertical-video-embed="false" data-network-id="" data-publish-date="2023-01-13T13:12:48Z" data-video-section="business" data-canonical-url="https://www.cnn.com/videos/business/2023/01/12/layoff-headlines-job-market-explainer-romans-contd-orig-ht.cnn-business" data-branding-key="" data-video-slug="layoff headlines job market explainer Romans contd orig ht" data-first-publish-slug="layoff headlines job market explainer Romans contd orig ht" data-video-tags="amazon.com inc,christine romans,companies,continents and regions,domestic alerts,domestic-business,employee termination,employment search,employment trends,facebook,hiring,human resources and personnel management,iab-business,iab-business and finance,iab-careers,iab-computing,iab-economy,iab-human resources,iab-internet,iab-job market,iab-job search,iab-social networking,iab-technology & computing,international alerts,international-business,internet and www,labor and employment,layoffs,meta platforms inc,misc people,north america,personnel changes,personnel management,salesforce,social media,technology,the americas,twitter,united states" data-details="">
job report
Layoffs are making headlines. What's really going on in the job market
01:41
Now playing
- Source: CNN Business
- Source: CNN " data-fave-thumbnails="{"big": { "uri": "https://media.cnn.com/api/v1/images/stellar/prod/230113072241-empty-restaurant.jpg?c=16x9&q=h_540,w_960,c_fill" }, "small": { "uri": "https://media.cnn.com/api/v1/images/stellar/prod/230113072241-empty-restaurant.jpg?c=16x9&q=h_540,w_960,c_fill" } }" data-vr-video="false" data-show-html="" data-byline-html="
" data-timestamp-html="
Published 9:39 AM EDT, Fri September 11, 2020
" data-check-event-based-preview="" data-is-vertical-video-embed="false" data-network-id="" data-publish-date="2023-01-13T12:33:08Z" data-video-section="business" data-canonical-url="https://www.cnn.com/videos/business/2023/01/13/inflation-ease-small-business-impact-cohen-pkg-cnntm-vpx.cnn" data-branding-key="" data-video-slug="inflation ease small business impact cohen pkg cnntm vpx" data-first-publish-slug="inflation ease small business impact cohen pkg cnntm vpx" data-video-tags="business, economy and trade,company activities and management,company structure and ownership,domestic alerts,domestic-business,economic conditions,economic indicators,economy and economic indicators,iab-business,iab-business and finance,iab-economy,iab-small and medium-sized business,inflation,international alerts,international-business,small business" data-details="">
empty restaurant
'You're just a hamster spinning on a wheel': Restaurant owner struggles to stay open
02:39
Now playing
- Source: CNN
- Source: CNN Business " data-fave-thumbnails="{"big": { "uri": "https://media.cnn.com/api/v1/images/stellar/prod/230105105912-single-family-homes-florida-102722.jpg?c=16x9&q=h_540,w_960,c_fill" }, "small": { "uri": "https://media.cnn.com/api/v1/images/stellar/prod/230105105912-single-family-homes-florida-102722.jpg?c=16x9&q=h_540,w_960,c_fill" } }" data-vr-video="false" data-show-html="" data-byline-html="
" data-timestamp-html="
Published 9:39 AM EDT, Fri September 11, 2020
" data-check-event-based-preview="" data-is-vertical-video-embed="false" data-network-id="" data-publish-date="2023-01-12T21:30:13Z" data-video-section="business" data-canonical-url="https://www.cnn.com/videos/business/2023/01/12/mortgage-recession-rocket-interest-rates-housing-egan-orig.cnn-business" data-branding-key="" data-video-slug="mortgage recession rocket interest rates housing egan orig" data-first-publish-slug="mortgage recession rocket interest rates housing egan orig" data-video-tags="business and industry sectors,business executives,business, economy and trade,domestic alerts,domestic-business,economic conditions,economic decline,economic indicators,economy and economic indicators,iab-business,iab-business administration,iab-business and finance,iab-economy,iab-executive leadership & management,iab-financial crisis,iab-housing market,iab-industries,iab-real estate,iab-real estate buying and selling,iab-real estate industry,international alerts,international-business,labor and employment,real estate,real estate sector performance,recession,workers and professionals" data-details="">
MIRAMAR, FLORIDA - OCTOBER 27: In this aerial view, single family homes are shown in a residential neighborhood on October 27, 2022 in Miramar, Florida. The rate on the average 30-year fixed mortgage hit 7.08%, up from 6.94% the week prior, according to Freddie Mac. Mortgage rates surpassed 7% for the first time since April 2002. (Photo by Joe Raedle/Getty Images)
Is housing a buyer's market or a seller's market? CEO explains why it's neither
02:40
Now playing
- Source: CNN Business
- Source: CNNBusiness " data-fave-thumbnails="{"big": { "uri": "https://media.cnn.com/api/v1/images/stellar/prod/221215080848-david-schnitzler-yurkevich-pkg1.jpg?c=16x9&q=h_540,w_960,c_fill" }, "small": { "uri": "https://media.cnn.com/api/v1/images/stellar/prod/221215080848-david-schnitzler-yurkevich-pkg1.jpg?c=16x9&q=h_540,w_960,c_fill" } }" data-vr-video="false" data-show-html="" data-byline-html="
" data-timestamp-html="
Published 9:39 AM EDT, Fri September 11, 2020
" data-check-event-based-preview="" data-is-vertical-video-embed="false" data-network-id="" data-publish-date="2022-12-15T13:26:19Z" data-video-section="business" data-canonical-url="https://www.cnn.com/videos/business/2022/12/15/labor-force-men-women-yurkevich-dnt-contd-cnntm-vpx.cnnbusiness" data-branding-key="" data-video-slug="labor force men women yurkevich dnt contd cnntm vpx" data-first-publish-slug="labor force men women yurkevich dnt contd cnntm vpx" data-video-tags="" data-details="">
David Schnitzler Yurkevich pkg1
Men are dropping out of the workforce. Here's why
02:55
Now playing
- Source: CNNBusiness
- Source: CNN Business " data-fave-thumbnails="{"big": { "uri": "https://media.cnn.com/api/v1/images/stellar/prod/221019150215-us-gas-prices-1019.jpg?c=16x9&q=h_540,w_960,c_fill" }, "small": { "uri": "https://media.cnn.com/api/v1/images/stellar/prod/221019150215-us-gas-prices-1019.jpg?c=16x9&q=h_540,w_960,c_fill" } }" data-vr-video="false" data-show-html="" data-byline-html="
" data-timestamp-html="
Published 9:39 AM EDT, Fri September 11, 2020
" data-check-event-based-preview="" data-is-vertical-video-embed="false" data-network-id="" data-publish-date="2022-12-05T23:41:11Z" data-video-section="business" data-canonical-url="https://www.cnn.com/videos/business/2022/12/05/economy-resilience-mb-contd-orig.cnn-business" data-branding-key="" data-video-slug="economy resilience mb contd orig" data-first-publish-slug="economy resilience mb contd orig" data-video-tags="business, economy and trade,christine romans,domestic alerts,domestic-business,economy and economic indicators,iab-business and finance,iab-economy,international alerts,international-business,misc people" data-details="">
A person prepares to pump gas at a BP gas station on Coney Island Avenue on October 19, 2022 in the Flatbush neighborhood of Brooklyn borough in New York City. President Joe Biden announced the sale of an additional 15 million barrels from the Strategic Petroleum Reserve. The announcement was made three weeks before the Midterm Elections and the move is expected to meet the administrations goal of releasing 180 million barrels from the Strategic Petroleum Reserve to counter the rising gas prices due to Russia's invasion of Ukraine.
Is the economy as bad as it seems? Maybe not
01:28
Now playing
- Source: CNN Business
- Source: CNNBusiness " data-fave-thumbnails="{"big": { "uri": "https://media.cnn.com/api/v1/images/stellar/prod/221129082729-01-brian-moynihan-poppy-harlow-interview-1129-screenshot.jpg?c=16x9&q=h_540,w_960,c_fill" }, "small": { "uri": "https://media.cnn.com/api/v1/images/stellar/prod/221129082729-01-brian-moynihan-poppy-harlow-interview-1129-screenshot.jpg?c=16x9&q=h_540,w_960,c_fill" } }" data-vr-video="false" data-show-html="" data-byline-html="
" data-timestamp-html="
Published 9:39 AM EDT, Fri September 11, 2020
" data-check-event-based-preview="" data-is-vertical-video-embed="false" data-network-id="" data-publish-date="2022-11-29T14:05:24Z" data-video-section="business" data-canonical-url="https://www.cnn.com/videos/business/2022/11/29/bank-of-america-ceo-brian-moynihan-economy-harlow-cnntm-vpx.cnnbusiness" data-branding-key="perspectives-no-logo" data-video-slug="bank of america ceo brian moynihan economy harlow cnntm vpx" data-first-publish-slug="bank of america ceo brian moynihan economy harlow cnntm vpx" data-video-tags="bank of america corp,brian moynihan,business figures,business, economy and trade,companies,economy and economic indicators,misc people,poppy harlow" data-details="">
01 Brian Moynihan Poppy Harlow interview 1129 SCREENSHOT
Bank of America CEO predicts 'mild recession' next year
04:22
Now playing
- Source: CNNBusiness
- Source: CNN " data-fave-thumbnails="{"big": { "uri": "https://media.cnn.com/api/v1/images/stellar/prod/221118170845-heater-vpx-111822.jpg?c=16x9&q=h_540,w_960,c_fill" }, "small": { "uri": "https://media.cnn.com/api/v1/images/stellar/prod/221118170845-heater-vpx-111822.jpg?c=16x9&q=h_540,w_960,c_fill" } }" data-vr-video="false" data-show-html=" The Lead " data-byline-html="
" data-timestamp-html="
Published 9:39 AM EDT, Fri September 11, 2020
" data-check-event-based-preview="" data-is-vertical-video-embed="false" data-network-id="" data-publish-date="2022-11-18T22:44:24Z" data-video-section="business" data-canonical-url="https://www.cnn.com/videos/business/2022/11/18/rising-heat-costs-home-heating-oil-prices-inflation-winter-cohen-pkg-biz-lead-vpx.cnn" data-branding-key="" data-video-slug="rising heat costs home heating oil prices inflation winter cohen pkg biz lead vpx" data-first-publish-slug="rising heat costs home heating oil prices inflation winter cohen pkg biz lead vpx" data-video-tags="business and industry sectors,business, economy and trade,economic conditions,economic indicators,economy and economic indicators,electric power industry,energy and utilities,inflation,seasons of the year,utilities industry,winter (season)" data-details="">
heater vpx 111822
Some Americans being forced to pick between paying for groceries and heating their homes
02:57
Now playing
- Source: CNN
- Source: CNN " data-fave-thumbnails="{"big": { "uri": "https://media.cnn.com/api/v1/images/stellar/prod/221017133009-01-clothes-shopping-050722.jpg?c=16x9&q=h_540,w_960,c_fill" }, "small": { "uri": "https://media.cnn.com/api/v1/images/stellar/prod/221017133009-01-clothes-shopping-050722.jpg?c=16x9&q=h_540,w_960,c_fill" } }" data-vr-video="false" data-show-html="" data-byline-html="
" data-timestamp-html="
Published 9:39 AM EDT, Fri September 11, 2020
" data-check-event-based-preview="" data-is-vertical-video-embed="false" data-network-id="" data-publish-date="2022-11-10T14:41:52Z" data-video-section="business" data-canonical-url="https://www.cnn.com/videos/business/2022/11/10/consumer-price-index-twitter-meta-layoffs-solomon-cnntm-vpx.cnn" data-branding-key="" data-video-slug="consumer price index twitter meta layoffs solomon cnntm vpx" data-first-publish-slug="consumer price index twitter meta layoffs solomon cnntm vpx" data-video-tags="business, economy and trade,companies,consumer prices,economic conditions,economic indicators,economy and economic indicators,employee termination,human resources and personnel management,inflation,internet and www,labor and employment,layoffs,personnel changes,personnel management,social media,technology,twitter" data-details="">
Customers browse racks of clothing as they shop inside a discount department retail store in Las Vegas, Nevada, on May 7, 2022. - The US economy added a better-than-expected 428,000 jobs in April, with the unemployment rate remaining at a low 3.6 percent, the Labor Department reported. The data pointed to continued strong employment growth and contained hints that some inflationary pressures may be easing, with workers' wages rising less than in March. But investors remain anxious that rising prices and higher interest rates will hit consumers, slowing the economy's expansion in the second half of 2022. (Photo by Patrick T. FALLON / AFP) (Photo by PATRICK T. FALLON/AFP via Getty Images)
CNN reporter shows what consumer price growth means for inflation
02:50
Now playing
- Source: CNN
- Source: CNN Business " data-fave-thumbnails="{"big": { "uri": "https://media.cnn.com/api/v1/images/stellar/prod/201211104159-grocery-shopper-pandemic-stew-leonards.jpg?c=16x9&q=h_540,w_960,c_fill" }, "small": { "uri": "https://media.cnn.com/api/v1/images/stellar/prod/201211104159-grocery-shopper-pandemic-stew-leonards.jpg?c=16x9&q=h_540,w_960,c_fill" } }" data-vr-video="false" data-show-html="" data-byline-html="
" data-timestamp-html="
Published 9:39 AM EDT, Fri September 11, 2020
" data-check-event-based-preview="" data-is-vertical-video-embed="false" data-network-id="" data-publish-date="2022-11-09T19:49:31Z" data-video-section="business" data-canonical-url="https://www.cnn.com/videos/business/2022/11/09/stew-leonard-jr-grocery-food-price-mb-markets-now.cnn-business" data-branding-key="markets-now" data-video-slug="stew leonard jr grocery food price mb markets now" data-first-publish-slug="stew leonard jr grocery food price mb markets now" data-video-tags="agricultural commodities,agriculture,agriculture, forestry, and commercial fishing,banking, finance and investments,business and industry sectors,business, economy and trade,commodity markets,economic conditions,economic indicators,economy and economic indicators,financial markets and investing,food and beverage industry,food prices,food production industry,holidays and observances,inflation,retail and wholesale trade,supermarkets and groceries" data-details="">
grocery shopper pandemic stew leonard's
Grocery chain CEO on food prices: 'My crystal ball is broken'
02:07
Now playing
- Source: CNN Business
New York CNN Business  — 

Remember when city-dwellers weren’t interested in owning cars? Those days are over. Used car sales are booming so much they pushed up consumer price inflation last month.

Prices for used cars and trucks climbed 5.4% — the largest monthly increase since March 1969 — and contributed 40% to the core inflation index, which strips out items that tend to be volatile in price, like food and energy.

“The categories with the highest increases tell the tale of today’s economy,” said Robert Frick, corporate economist with Navy Federal Credit Union. “The demand for these is stiff given the high expense of new cars, and that people are closely watching their spending while the economy is depressed by the pandemic.”

People are also abandoning air travel during the pandemic and hitting the road after being cooped up at home for much of the spring and summer. And it doesn’t hurt that gas prices in the US cheaper than they’ve been in years.

US core consumer prices rose 0.4% in August on a seasonally adjusted basis, less than the 0.6% increase in July,

Prices for air travel, shelter, recreation and household furnishings also rose, contributing to the increase.

Meanwhile, the overall consumer price index also increased 0.4% in August on a seasonally adjusted basis.

Over the past 12 months, the index increased 1.3% before seasonal adjustments. That’s a significant jump, as back in May the 12-month increase was only 0.1% after prices got clobbered during the spring lockdown.