- June 14, 2021
- Posted by: Stratford Team
- Category: Business
American consumers absorbed another surge in prices in May — a 0.6% increase over the past month and 5% over the past year, the biggest 12-month inflation spike since 2008. The May rise in consumer prices reflected a range of goods and services now in growing demand as people increasingly shop, travel, dine out and attend entertainment events in a rapidly reopening economy. The increased consumer appetite is bumping up against a shortage of components, from lumber and steel to chemicals and semiconductors.
Mortgage rates remained near historic lows this week. The benchmark 30-year home loan held below the 3% mark amid further signs of the economy’s recovery from the pandemic recession. Mortgage buyer Freddie Mac reports that the average for the 30-year loan rate dipped to 2.96% from 2.99% last week.
The Grand Forks council on Monday will consider liquor license applications for two new restaurants. La Cantina Tex Mex Cuisine is…
