The Daily Money: Inflation edged up again in December
Good morning! It's Daniel de Visé with your Daily Money.
After tumbling in the fall, inflation edged up in December, Paul Davidson reports, underscoring that it’s too soon to sound the all-clear after the biggest spike in consumer prices in four decades.
A rise in basic living expenses - rent, as well as food and gasoline prices - was the main culprit. Used car prices also rose unexpectedly.
Inflation is broadly headed lower, but a more gradual descent could lead the Federal Reserve to keep interest rates higher for longer.
Last month, overall prices rose 3.4% from a year earlier, according to the Labor Department’s consumer price index. On a monthly basis, costs increased 0.3% after virtually flatlining the previous two months.
Tax season is getting underway
You may have noticed some tax stories popping up on the Paste BN website this new year. The IRS recently announced that Jan. 29 will be the first day to file your taxes for 2023: That is the date that formally kicks off Tax Season 2024.
Here are a few timely tax topics for you to peruse as you contemplate your return:
First time filing your taxes? Here are 5 tips for tax season newbies
When will I get my refund? Tax deadlines to keep in mind with Tax Day coming up
What if I owe taxes but I'm unemployed? Tips for filers who recently lost a job
What are the IRS tax brackets? What are the new federal tax brackets for 2023? Answers here
Tax season can be terrifying. Here's everything to know before filing your taxes in 2024.
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Remember Fruit Stripe Gum? The iconic, brightly colored checkout-aisle staple is being discontinued after more than 50 years.
Food and Wine magazine reports that the gum's manufacturer, Ferrara Candy, announced this week that it will discontinue the gum.
Ferrara Candy did not respond to Paste BN's request for comment but, in a statement, told Food and Wine magazine: “We have made the difficult decision to sunset Fruit Stripe Gum."
About The Daily Money
Each weekday, The Daily Money delivers the best consumer news from Paste BN. We break down financial news and provide the TLDR version: how decisions by the Federal Reserve, government and companies impact you.