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About 2.1% as you suggested. what we have seen also, housing is a big factor right now. rents up 5/10 of a percent car insurance, anybody written a check lately air fare s up 4% however, energy costs are coming down remember, we paid $5 a gallon back in june now we re at about $3.60 or so a gallon medical costs are going down, and groceries, which as you know have been skyrocketing, they were flat month over month so there is some hope that maybe, in fact, inflation is starting to cool the fed, as you know, has been hiking rates rather dramaticall to tame inflation. they re meeting again in may the expectation is that they may have to hike rates another quarter point, but the federal reserve president of the bank of chicago, i should say, is suggesting maybe it s time to hit the pause button on the rate hikes, and he is a pretty influential voice. so we will see whether the fed ....
Barrel. today they sit closer to around 74 to $75 per barrel and that s a massive decline. by the way, that s translateded into fuel prices as well. gasoline prices today for aaa are roughly $3.55 a gallon nationally. they will remember $5.02 a gallon back in early june. so this has been a huge move because of demand concerns and by the way, if you want to link it all together mika was talking about the black friday and cyber monday that they expected to have today. those lower fuel prices are expecting to power consumer spending and the interesting part of that consumer spending story right now, you mentioned the record $1.2 million on black friday, it shows that the american consumer is at least relatively healthy. they started to buy things like consumer electronics, equipment and toys, but a lot of the bad news around this is because the increase in spending comes ....
Hello lucas. hello mike, that is right the white house once the present gets a second negative test to get to kentucky to move victims of the devastating floods but there s a matter of debate is the country in a recession? the white house is no. the president s own labor secretary said the following. this is a global recession we cannot lose sight of that. what s happening here in the united states is happening all across the globe are quite honestly a higher level in some places. aaa said the national average for regular unleaded gasoline now $4.8 a gallon down from an all-time high of over five bucks a gallon back in june. why is the president bragging today about gas prices? because it s gone down for. it s still a dollar 72 cents higher than when he took office. it has come down in a way that we have not seen its trajectory coming down in over a decade. it was over $4 a gallon is that good? ....
For context, a year ago it was $3.06 a gallon and just $2.29 a gallon back in january of 2017. but while americans wallets are thinning out, the president is hoping to beef up green energy, calling for the use of the defense production act to boost u.s. manufacturing of solar and other so-called clean energy. the administration claiming that will lower energy costs for average americans. what s the emergency in the solar district? this is just a step to get to a place where we do have clean energy arsenal. it s about the reliability of our power, of our power grid, it s about reducing costs for american families. if the connection between creating more green energy and solving the pain at the pump you are facing every day escapes you, well, you are not alone. when gas is approaching $5 a gallon on average across the country, seven and $8 and some states, the fact that the biden white house is focused on solar energy as opposed to getting gas ....
Resources back up. fox news contributor, brian brenberg joins us now. we called the senators pushing for the tax holiday and they re all welcome to join us any time. brian, first off, what would be the real impact on the american consumer struggling from not just high gas prices but from inflation? what would the real world impact be of a gas tax holiday? would it help? look, i d love to have 18 cents a gallon back in my gas, but the fact is it s going to make almost no difference at the end of the day. just like the strategic petroleum reserve release. we were told that that would make a difference. it has doing nothing. these are gimmicks, sandra. two things. production and pipelines. more production and more pipelines, gas prices will go down. if we re not doing that, you can try all the gimmicks in the world. at the end of the day, it s not going to help the american consumer. martha: why is the only thing we hear from this white house, ....