Hikes

**Inflation Concerns Rise as Fed Officials Debate Rate Hikes and Anchored Expectations – Is the Monetary Policy Enough to Fight Soaring Prices?**

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New Orleans, Louisiana – The debate over U.S. interest rates reached new depths this week among Federal Reserve officials, following a key survey that revealed a surge in consumers’ inflation expectations. The question of whether rates are sufficient to combat inflation remains at the forefront of discussions within the Federal Reserve. During a Louisiana Bankers Association conference in New Orleans, Dallas Fed President Lorie Logan expressed concerns about the potential upside risks to inflation and …

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California Insurance Giant Allstate to Resume Underwriting After Regulatory Changes Spur Rate Hikes

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SACRAMENTO, California – Allstate Corp. plans to resume underwriting in California after a lengthy pause once the state regulator finalizes changes to regulations that would facilitate insurers in adjusting rates. During a recent public hearing on April 23, Gerald Zimmerman, the senior vice president of government relations for Allstate, expressed the company’s readiness to offer new homeowner insurance policies in California once the revised regulations come into effect. Zimmerman emphasized the significance of utilizing catastrophe …

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California Fast Food Workers Get Huge $20 Raise, Threatening Price Hikes – Is Your Favorite Chain Affected?

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LIVERMORE, Calif. – As California gears up for a new law to take effect on Monday, most fast food workers in the state are set to receive a pay increase to at least $20 an hour. The move, championed by Democrats in the state Legislature, aims to bring more financial stability to a profession historically known for low wages. However, the wage hike also poses the risk of driving prices up in a state already …

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California Fast-Food Chains Brace for Big Price Hikes Thanks to New Wage Law – Is Your Burrito Bowl Next?

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Los Angeles, California – Fast-food consumers in California may soon see an increase in prices due to a new state law raising the minimum wage for fast-food workers to $20 an hour. Chains like Chipotle are considering passing on the cost to customers with potential mid-single-digit price hikes to cover the wage increase. Assembly Bill 1228, signed by Gov. Gavin Newsom last September, will go into effect next month, impacting restaurants with 60 or more …

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California Fast-Food Workers See Massive $20 Minimum Wage Increase – Businesses React With Layoffs and Price Hikes

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PASADENA, Calif. – The minimum wage for most fast-food workers in California is set to increase to $20 an hour starting Monday, a significant raise from the previous $16 an hour. This change comes as a result of legislation approved last year and signed into law by Governor Gavin Newsom. The impact of this wage increase is already being felt, with some businesses making adjustments to accommodate the higher pay rate. Reports have surfaced indicating …

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Cocoa Prices Soar: Easter Chocolate Prices Could Skyrocket – Hershey and Cadbury Warn of Possible Price Hikes

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New York, NY – The skyrocketing prices of cocoa are causing concern for Easter chocolate lovers as the cost of the key ingredient for delicious treats has almost doubled in 2024. This surge in cocoa prices has even outpaced the growth of bitcoin over the past 12 months, potentially leading to higher prices for Easter goodies. Manufacturers like Hershey and Cadbury are already contemplating passing on these increased costs to consumers through price hikes. The …

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Tesla Stock Surges 7% After Model Y Price Hikes in Europe and U.S.

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New York, NY – Tesla’s stock sees a significant surge of nearly 7% on Monday following the announcement of price increases for its Model Y electric vehicles in certain European countries and the United States. The company revealed that prices for the Model Y will be raised by about 2,000 euros in selected European nations starting March 22, along with a $1,000 increase for all Model Y cars in the U.S. effective April 1. The …

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Rooftop Solar Controversy: Arizona Customers Hit with Fee Hikes – What You Need to Know!

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Phoenix, Arizona – Arizona’s largest utility has been approved to increase electricity rates, affecting about 1.4 million customers. The Arizona Corporation Commission has given the green light to the rate hike, leading to mixed reactions among residents. Residential customers of Arizona Public Service Co. will see their average monthly bills rise by $10 to $12 starting in March. In addition, customers with rooftop solar systems will face an extra fee of $2.50 to $3 per …

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Insurance Shock: Allstate Hikes Prices 30% in California – Here’s What You Need to Know

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LOS ANGELES, CA – Allstate customers in California are facing a steep 30% increase in their vehicle insurance rates, following the company’s approval to implement the hike last year. The decision was announced during an earnings call, with company officials citing the need to adjust rates to cover the rising costs of customer recovery and protection from accidents and disasters. As a result, Californian drivers saw the rate hike go into effect on February 7 …

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