pete muntean, cnn, reagan national airport. let s look now at rising u.s. gas prices. national average for regular gasoline rose to a new record of $4.62 a gallon on monday according to the american automobile association. even worse though, gas prices are above $4.90 in at least nine states and the price to fuel up in california is above $6 a gallon. food prices are on the rise too. matt egan has more on that. reporter: you look at the prices going up for food, sticker shock all across the board. double digit percentage gains for everything from mustard, buns, ketchup, barbecue staples. frozen sausages, 24% more expensive. and food inflation is driven by demand, supply has been hurt by extreme weather that has lowered crop yields, labor costs are up, the war in ukraine has disrupted
we have had policies that pay people not to work. we have had a war on american energy that s led to more inflation. the federal reserve is only going to be left with one option to control inflation, that s their primary role is to control inflation. they have to raise interest rates. today the average for a gallon of regular is 4.62 a gallon. it is much worse in some states including california 6.15 over there. hawaii is 5.44. nevada 5.30 a gallon. washington state 5.23. alaska 5.20. the list goes on. of the president is slated to have some reporters in the room this morning just for a brief moment at the top of his meeting with the new zealand prime minister. no telling if he will take any questions today though. back to you guys. steve: probably not. ainsley: i doubt it. steve: jacqui, the president says with the federal reserve it s hands off for me i m not going to tell them what to do. is that so he can say hey, it s their fault, you know, first it was putin, and now it s
flights a day from its schedule during the month of july. memorial day is so much about driving that triple anticipated 34% 0.9% of people who would drive 50 miles or more over the five-day surrounding memorial day when gas prices are so sky-high. when you adjust those for inflation the last time we saw gas prices this high was during memorial day 2012 in a ten-year high. pete muntean, cnn, reagan national airport. so let s take a closer look now at u.s. gas prices. the national average for regular gasoline rose to a new record of $4.62 a gallon on monday. according to the american or the movies association that is 44 cents higher than a month ago. and $1.57 higher than a year ago. seven states are now averaging $5 a gallon. and in the coming hours, u.s. president joe biden plans to discuss soaring inflation with
work, a war on american energy that lead to inflation. federal reserve is left with one option to control inflation, they will have to raise interest rates. cheryl: on friday, economists expect jobs created, but that is slowdown from april s 428,000. carley: if you are watching from california, you are about to be bummed out. cheryl: you were talking about high gas prices last hour. look at this, top 10 states with highest prices. no surprise, california $6.15 a gallon. hawaii close second at $5.44. oregon, illinois, all over $5 a gallon. today national average is $4.62, new record we re seeing. we were at $3.04 a year ago, a lot of that is because of more regulation, less drilling and less domestic production, having to do with the biden
let s get a check on cnn business this tuesday morning. looking at markets around the world, a mixed performance in asia. europe opened also mixed with paris down and london up. and on wall street, giving back a little bit of last week s solid performance. u.s. markets were closed for memorial day yesterday after a reprieve in the selling last week. dow fell eight weeks in a row and then finally rose last week. it was the best week for the s&p 500 and dow since november 2020. nasdaq is still in a bear market, 23% below its record high. we ll see what happens this morning but leaning down a little bit. at the gas station, record high prices on memorial day. aaa reports the average price for a gallon of regular gasoline nationwide is now $4.62, that is up 44 creptents from a month ag. illinois, new york and arizona just pennies away from $5. the drive to the barbecue costs