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The Consumer Price Index rose 0.3% in April, slightly below economists' expectations. Inflation was 3.4% annually in April, in line with forecasts. Core inflation, which excludes volatile food and energy prices, rose 0.3% month-over-month and 3.6% year-over-year in April. Shelter costs increased 0.4% in April and were up 5.5% from a year ago. Energy prices rose 1.1% in April and were up 2.6% annually, while food prices were flat monthly. Used and new vehicle prices declined in April. Inflation remains above the Fed's 2% target, but signs of easing could allow them to pause rate hikes until more data is available in 2024.
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CHEWY
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NFR Plus
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WATCH: The latest updates and reactions from the community on Tamworth Regional Council's proposed 36.3 per cent rate increase. Video by Gareth Gardner and Jonathan Hawes
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Fantano Shorts
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libertaria
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What do food hygiene ratings represent, and how have the numbers of zero-rated businesses changed recently?
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Perfectly Misaligned
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Red Lobster Announces, Nearly 100 Locations , Will Be Shut Down.<br/>NBC reports that approximately 99 Red Lobster locations <br/>will be auctioned off as the seafood chain faces <br/>questions regarding the company's long-term future.<br/>Founder and CEO of the liquidation firm TAGeX Brands, <br/>Neal Sherman, said he would lead the closure of over <br/>50 locations in a May 13 LinkedIn post.<br/>Sherman said equipment from the <br/>locations will be auctioned off.<br/>Locations will reportedly be closed across <br/>the United States, including Denver, <br/>Indianapolis, California and New York.<br/>On May 14, Restaurant Business Magazine reported <br/>a total of 99 locations would close, representing <br/>about 15% of the company's 700 locations. .<br/>NBC reports that the largest seafood <br/>restaurant in the U.S. has struggled with debt, <br/>unfavorable leases and executive turnover.<br/>The chain's troubles also stem from ill-advised <br/>strategies like an all-you-can-eat-shrimp promotion <br/>in 2023 that resulted in a significant loss.<br/>Earlier in 2024, the chain's largest investor, <br/>Thai Union, announced that it would <br/>seek to exit its position. .<br/>The combination of Covid-19 pandemic, <br/>sustained industry headwinds, higher <br/>interest rates and rising material and <br/>labor costs have impacted Red Lobster, <br/>resulting in prolonged negative <br/>financial contributions to <br/>Thai Union and its shareholders, Thiraphong Chansiri, Thai Union Group’s CEO, via NBC.<br/>After detailed analysis, we have <br/>determined that Red Lobster’s <br/>ongoing financial requirements <br/>no longer align with our capital <br/>allocation priorities and <br/>therefore are pursuing an exit <br/>of our minority investment, Thiraphong Chansiri, Thai Union Group’s CEO, via NBC
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Credit Card Delinquencies , Are on the Rise.<br/>New York Federal Reserve data that was published on May 15 shows that credit card delinquencies kept rising from January to March, Fox Business reports. .<br/>In Q1 2024, delinquencies reached <br/>8.9% at an annualized rate.<br/>America hasn't seen this high of a <br/>percentage of serious credit card <br/>delinquencies since 2012, Fox News reports. .<br/>In the first quarter of 2024, credit <br/>card and auto loan transition rates <br/>into serious delinquency continued <br/>to rise across all age groups, Joelle Scally, regional economic principal within the Household and <br/>Public Policy Research Division at the New York Fed, via Fox Business.<br/>An increasing number of borrowers <br/>missed credit card payments, <br/>revealing worsening financial <br/>distress among some households, Joelle Scally, regional economic principal within the Household and <br/>Public Policy Research Division at the New York Fed, via Fox Business.<br/>Researchers aren't sure why delinquencies <br/>are so high since the unemployment rate <br/>is low, but they have a few theories.<br/>One of those theories is that consumers drained savings throughout the pandemic <br/>but continue to spend at high levels.<br/>Another theory is that some Americans switched to jobs with lower salaries.<br/>Additionally, credit card eligibility may have been expanded for many whose student debt wasn't being reported to credit bureaus amid the pandemic.<br/>These are all kinds of complex issues. <br/>We don't exactly know what's behind the <br/>increase of these delinquency rates. But it's <br/>definitely something that we're tracking, New York Fed researchers, via Fox Business.<br/>The average annual percentage rate for <br/>credit cards hit a record of 20.72% recently.
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This Is How Love, Changes Your Brain.<br/>Happy days.<br/>The brain releases feel-good neurotransmitters that boost our mood. , Dr. Stephanie Ortigue, via 'The New York Times'.<br/>When we find love, it is like biological fireworks. Our heart rate is elevated, our levels of the so-called love hormone oxytocin are rising, which makes us feel connected. , Dr. Stephanie Ortigue, via 'The New York Times'.<br/>Our levels of the hormone and neurotransmitter norepinephrine are spiking, which makes us lose track of time; , Dr. Stephanie Ortigue, via 'The New York Times'.<br/>... our levels of adrenaline rise, which expands the capillaries in our cheeks and makes <br/>us flush, Dr. Stephanie Ortigue, via 'The New York Times'.<br/>When we start feeling a deep sense of calm and contentment with our partner, brain areas are activated that trigger [...] more complex cognitive functions, Dr. Stephanie Ortigue, via 'The New York Times'.<br/>Experts say that when this happens, good things can occur such as an increase in compassion.<br/>... less pain.<br/>... increased memory ...<br/>... and more robust creativity.<br/>Some experts are convinced that a life filled with healthy love is as essential healthy foods and exercise.<br/>Love is a biological necessity, just like water or exercise or food. , Dr. Stephanie Ortigue, via 'The New York Times'.<br/>My research has convinced me that a healthy love life [...] is as essential to a person’s well-being as a good diet, Dr. Stephanie Ortigue, via 'The New York Times'.<br/>Experts also say that there are many ways to fill one's life with love, which obviously includes partners, family and friends.<br/>But even less obvious loves — such as love for a sports team or pets — goes a long way, as well.<br/>Happy days.<br/>Happy days
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Home Depot reported first-quarter earnings that beat expectations, but revenue missed estimates. The company saw softer sales as high interest rates caused customers to defer large home renovation projects like kitchen and bathroom remodels. Comparable sales dropped over 2% across the business and declined more than 3% in the US compared to the prior year period. Weather also negatively impacted spring sales of outdoor products as many parts of the country experienced colder and wetter conditions. Home Depot reaffirmed its full-year guidance but expected comparable sales to decline.
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