Economy News
Economic news covering Fed interest rate decisions, inflation data, jobs reports, GDP growth, and macroeconomic trends affecting the stock market.
UK Households Face £7bn Energy Arrears as Debt Relief Stalls
UK household energy arrears are projected to hit £7 billion by year-end as a £500 million government relief scheme remains stuck in regulatory limbo, with British Gas alone seeing over £1 billion in unpaid bills.
Limerick City Council Approves 76-Unit Residential Development on Derelict Site
Limerick City and County Council has approved Thanos Securities' plan for 76 apartments on Catherine Street, clearing a long-derelict pub and nightclub site for housing. The project includes demolitions, refurbishment of protected structures, and a new six-storey building.
Social Security Payments for May 2026: Schedule and Key Details
Social Security's May 2026 payment cycle starts May 13 for those born 1st-10th, with average retired worker checks at $2,081.16. The 2.8% COLA increase is partly offset by higher Medicare Part B premiums.
White House Weighs Federal Gas Tax Suspension as Pump Prices Soar Past $4.50
The Trump administration is open to suspending the federal gasoline tax as U.S. average prices hit $4.52/gallon, up over $1 from last year, with supply constraints tied to the Iran war and Strait of Hormuz disruptions.
Moody's: South Africa's Debt Stabilizing, Iran Conflict Poses Growth Risk
Moody's says South Africa's debt has peaked at 86.8% of GDP and is set to decline, but warns the Iran conflict could reduce growth by up to 0.5 percentage points in 2026-27.
Is Cash Still a Safe Bet? How Inflation Erodes Savings Yields
Inflation is outpacing most savings accounts, making cash a costly choice. High-yield options like online banks and I bonds offer better returns.
USDA Boosts Disaster Aid to 70%, Extends SDRP Filing Deadline to August
The USDA doubled the SDRP payment factor to 70% and extended the application deadline to August 12, unlocking a second round of payments for approved producers.
US Mortgage Rates Slip to 6.30%, Sparking Spring Buyer Surge; Bay Area Prices Top $2M
Mortgage rates dropped to 6.30%, boosting purchase applications 10% and pending home sales 1.5%. Bay Area prices stay above $2 million.
UK Inflation Accelerates to 3.3%, Fueling Rate Cut Uncertainty
UK consumer price inflation accelerated to 3.3% in March, up from 3.0% in February, as higher fuel and airfare costs pushed prices upward. Economists widely expect the Bank of England to hold interest rates steady at its April 30 meeting.
Social Security May 2026 Disbursement Calendar Reveals Extended Payment Gaps
Some Social Security recipients will experience a 35-day interval between April and May 2026 payments, with the first regular May distribution scheduled for May 13. Benefit amounts, which increased 2.8% for 2026, remain unaffected by the timing adjustment.
Social Security COLA Forecast Stays at 2.8% for 2027 Amid Inflation Volatility
An early projection for Social Security's 2027 cost-of-living adjustment holds steady at 2.8%, matching the 2026 increase. However, a competing analyst raised her estimate to 3.2% following March inflation data.