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join us coming up. john: first fox news alert to an economy in crisis. americans crushed on high prices from gas to food while their retirement accounts evaporate. growing concerns a dramatic move by the fed on interest rates could send the economy spiralling into recession. john roberts in washington. sandra. great to have you back. sandra: i am sandra smith in new york. this is america reports. we are watching all of this, brand-new numbers today from may painting a bleak picture of the american economy. consumer and producer prices still skyrocketing, and hitting record highs. all has major implications for your wallet as those producers that are facing higher costs plan to pass those higher numbers down to the consumer in the form of higher and higher prices. john: national price of gasoline up 63% from a year ago and the highest ever. sandra: it is almost hard to believe, every day a new record. the white house has announced a middle east trip to saudi ar ....
Fuel that fuels everything, trucks and trains, etc., 5.77. you may be asking when is all of this going to end? opec today, one of the sources saying they are reducing their expectation for growth in demand. next year, 2%. this year, 3.3%. lower demand, maybe lower prices, hope for the best. back to you. john: i ll see it when i believe it. thank you. sandra: always optimistic, thanks to her for that. and if you are in the market for a car, which many of you are, buckle up. lydia hu has the story live in new jersey. what are you seeing, lydia? hey there, sandra. you have heard about the bidding wars for houses, how about a bidding war for a new suv. that s what we are seeing here at this car dealership in new jersey because inventory is so ....