Economy articles

Read these reports to understand the financial forces that affect daily American life. Discover how exports and imports impact US taxes and debt, plus learn about inflation and other economic indicators.

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STANDARD OF LIVING 06 SNAP Groceries Food Inflation Line Up
Economy
How much will Thanksgiving dinner cost in 2024?

Grocery prices rose 1.1% year-over-year as of October, less than the overall 2.6% inflation rate.

ECONOMY 17 Small Business Openings Closings Jobs Line Up Blue
Economy
What role do small businesses play in the economy?

Entrepreneurship has increased since the pandemic, accounting for the bulk of job growth.

STANDARD OF LIVING 06 SNAP Groceries Food Inflation Line Up
Economy
Are groceries more expensive than last year?

Grocery store food prices increased 1.3% from September 2023 to September 2024, and increased 11% from 2021 to 2022 – the largest annual increase in 40 years.

ECONOMY 13 Trade Shipping Container Cargo Line Up Pink
Economy
Who are the US’s top trade partners?

Over 50% of 2023 US trade involved one of five partners: Mexico, Canada, China, Germany, and Japan.

ECONOMY 03 Debt Ceiling Money Bars Line Up Blue
Economy
What is the Consumer Price Index, and what does it mean for the economy?

The CPI is a key indicator for the state of the economy.

ECONOMY 05 Business Jobs Employment Man Money Line Up Pink
Economy
What is inflation and how is it measured?

One of the most common economic indicators helps contextualize how much a dollar can buy.

ECONOMY 03 Debt Ceiling Money Bars Line Up Blue
Economy
What is gross domestic product, or GDP?

GDP is an overall measure of economic activity. How is it calculated and used?

ECONOMY 02 City Building People Jobs Wages Employment Bars Up Pink
Economy
What do Americans think of the economy?

In 2023, 42% of Americans felt good about the shape of their local economy.

ECONOMY 18 Inflation Dollar Money Spending Map State Blue
Economy
Who owns American wealth?

As of 2023, the top 1% of American households owned 30 cents of every dollar.

ENERGY & ENVIRONMENT 09 Fuel Gas Cars Prices Line Up Pink
Economy
How much does it cost to own a car?

Fixed expenses, including car insurance, license and registration fees, taxes, depreciation, and more, make up the bulk of car ownership costs.

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