prices where gas prices were near $7 a gallon and the national average is about $4.60 right now. and what some analysts are suggesting, if the price goes down even $4 a gallon nationally maybe that would give some reprieve emotionally, mentally for voters. going into the midterm elections. we know president biden s approval ratings right now are a 40.5%, pretty low and maybe if those go down, that will elevate the approval rating a little bit and that will help come the midterms and politically speaking on the agenda that is on the docket today, in about eight hours, you know, the fed has also been criticized for being a little too slow to act on tamping down on inflation. we know we are expecting at least more rate hikes the rest of the year. we ve got a june meeting coming up. a july meeting coming up. but the second part for the fed and for president biden now that he has aligned with the fed is that they make a soft landing,
up, it doesn t matter if it s the packaging or raw materials or energy or the fuel that gets from the manufacturer to the stores, everything is going up. if manufacturer to the stores, everything is going up. if asda and morrisons are everything is going up. if asda and morrisons are announcing - everything is going up. if asda and morrisons are announcing price - everything is going up. if asda and l morrisons are announcing price cuts, how can they do that? the morrisons are announcing price cuts, how can they do that? how can they do that? the reason the have how can they do that? the reason they have done how can they do that? the reason they have done that how can they do that? the reason they have done that is how can they do that? the reason they have done that is because i how can they do that? the reason l they have done that is because they are losing market share so morrisons market share numbers were going back about 40.5% so the latest market share shows they are
Three hours. Afterwards the two president s held separate News Conferences but hit some of the same tones and themes, Mutual Respect and optimism tempered by realism. I did what i came to do. The bottom line is i told President Putin we need to have some basic rules of the road that we can all abide by. I made it clear to him that i believe. Consequences of that would be devastating for russia. I dont think hes looking for a cold war with the United States. President putin seemed to be looking for the right category for mr. Biden, among the four u. S. President s he has met with during his 20 years leading russia. Translator he is very balanced, professional man, its obviously clear that he is very experienced and it seems to me that we did speak the same lan language. Certainly doesnt imply that we must look into each others eyes and find a soul or swear eternal friendship. Our chief National Affairs correspondent jeff zeleny is live in geneva. Good morning. Youve now had some time to
months. the highest jump in nearly 40 years. this is a challenge that is first and foremost in our sights. we have way more work to do. reporter: big increases in cars, groceries and electricity year over year, and food up nearly 1% in january. a huge spike from december. it s a constant rejuggling of budgets to try to keep up with the food prices lately. reporter: gas did drop by 0.8% last month, but with oil prices rising, that likely won t last. filling up your car costs 40% more than it did a year ago. i used to buy about $20 but i m buying about $35. for the same amount? yes. for the same quantity. reporter: last month, new all-time price records. trucks, seafood, meals and furniture saw the highest jumps ever year over year. and used cars up a whopping 40.5% in the last 12 months.
let s get fiscal by olivia newton son. i think it was back in july he said inflation would be temporary. i think a lot of americans are wondering what your definition of temporary is. you are being a wise guy with me a little bit. the reason for inflation the supply chains were cut off meaning that the products for example, automobiles, the lack of computer chips to build those automobiles so they could function. they need those computer chips. what about cars who already have the chips? if you look at used cars up 40.5% with widespread price increases across the board. energy 27, gasoline 40%, food 7%. the average household is spending up to $250 more per month to make ends meet even as increased wages cannot keep up with the pace of inflation. now, on capitol hill as the