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Forbes
4 minutes ago
- Forbes
Most Americans Are Stressed About Grocery Costs — As Food Prices Climb
Almost 90% of American adults say they're stressed about the cost of groceries, a new poll out Monday shows, as the price of food rises and items like poultry, ground beef and eggs see the biggest cost jumps. A customer shops at an H-E-B grocery store on February 12, 2025 in Austin, Texas. Getty Images More than half of Americans (53%) see grocery prices as a major source of stress and another 33% see it as a minor source of stress, according to a new poll from the Associated Press-NORC Center for Public Affairs Research. More people were concerned about grocery prices than any other financial concern brought up in the poll, but more than half of respondents also said they were at least somewhat stressed about their salaries, the cost of housing, the amount of money they have saved, their credit card debt and the cost of health care. The Consumer Price Index shows the price of food has risen 3% in the last 12 months—groceries have risen 2.4% while dining out is 3.8% costlier than it was 12 months ago. From June 2024 to June 2025, groceries got more expensive in every category tracked by the Bureau of Labor Statistics: meats, poultry, fish and eggs rose in price by 5.6% (egg prices alone rose 27.3%); nonalcoholic beverages are 4.4% more expensive; fruits and vegetables rose in price by 0.7%; and both cereals and bakery products and the index for dairy products rose 0.9%. At 3%, the cost of food is rising faster than the overall inflation rate as measured by the Consumer Price Index, at 2.7%. After groceries, the price of housing had the highest number of people reporting it as a major stressor in Monday's poll (47%), followed by the amount of money saved (43%), salary (43%) and the cost of health care (42%). Get Forbes Breaking News Text Alerts: We're launching text message alerts so you'll always know the biggest stories shaping the day's headlines. Text 'Alerts' to (201) 335-0739 or sign up here : 81 cents. That's how much the price of chicken breast increased, per pound, from July 2024 to July 2025, according to NBC News, making it the largest price hike among the six staple items tracked by the outlet. The cost of ground beef increased 67 cents per pound, while eggs grew 64 cents more expensive per dozen. While food prices are up despite President Donald Trump's campaign promise to "immediately bring prices down,' 3% is nowhere near the double-digit jumps earlier in the decade. Food inflation was 10.4% in 2022 and 6.3% in 2021. This year is so far slightly above, but largely in line, with price increases in 2023 (2.7%) and 2024 (2.5%). Are Tariffs Going To Make Groceries More Expensive? Probably. The Budget Lab at Yale estimates that tariff price increases will raise food costs by about another 3%. Fresh produce could initially jump in price by almost 7% before stabilizing long-term at 3.6% higher, and processed rice is expected to rise in price by 10.2% in the long term. Other items expected to cost more include beverages, cereal and grains, sugar, meat and dairy products, Yale said. Grocery products imported from other countries, like bananas, beer, wine and cheese, will face additional tariffs. In 2024, the U.S. imported about $221 billion in food products, 62% of which came from five countries: Mexico, Canada, the EU, Brazil and China, according to the Tax Foundation. Trump has agreed to pause higher tariffs on Mexico for 90 days, and has agreed to a 15% tariff on goods from the EU. The White House said Canada will face a 35% tariff rate—up from an earlier 25%—for goods not covered under the United States-Mexico-Canada Agreement (USMCA). Trump has threatened a 50% tariff on Brazil due to the ongoing criminal prosecution of his ally and the country's former president, Jair Bolsonaro, and the average tariff on Chinese exports is currently 55%. Further Reading Forbes Advisor Food Prices Rise Again: How To Save On Groceries And Dining Out In 2025 Forbes Rising Prices Are Changing The Way Americans Eat—Here's What's Next By Stephanie Gravalese Forbes Trump Announces New Global Tariff Rates—As He Pushes Back Start Date Again By Siladitya Ray
Yahoo
an hour ago
- Yahoo
Boeing Defense Union Strikes for First Time Since 1996
Boeing workers at St. Louis-area defense factories are striking for the first time in almost three decades. About 3,200 machinists walked off the job around midnight after members voted down a deal that would have raised wages by 20% and boosted retirement contributions. Danny Lee reports on Bloomberg Television. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
an hour ago
- Yahoo
TechCrunch Mobility: Tesla's ride-hailing gambit
Welcome back to TechCrunch Mobility — your central hub for news and insights on the future of transportation. Sign up here for free — just click TechCrunch Mobility! Tesla CEO Elon Musk is in what one might describe a suboptimal position. He's pushed hard to get shareholders to view Tesla as an AI and robotics company, not a maker of EVs. And yet, the company's most visible products, which generate the bulk of its revenues, are its electric cars. Yes, Tesla EVs are advanced, particularly when it comes to its underlying vehicle architecture and software. And its driver-assistance system known as Full Self-Driving Supervised, which can be used on highways and city streets and requires hands on the wheel and the driver to be ready to take over, is considered among the most capable on the market today. But to Musk, the ultimate illustration of an AI and robotics company is self-driving cars and humanoid robots. And today, neither of them exist at any scale. Tesla's first notable step toward that goal was in June when it launched a limited robotaxi service in Austin, Texas. Those Robotaxi-branded vehicles, which invited customers can hail via an app, have a Tesla employee sitting in the front passenger seat. But it's still far from Musk's original vision of a 'general solution' that would allow a Tesla owner to earn money by renting out their vehicle as a robotaxi service. The clock is ticking and Musk needs to show more progress — or at the very least tease upcoming launches to keep antsy shareholders content. Which is perhaps why Tesla is embarking on this ride-hailing gambit in California. Earlier this month, Musk noted that Tesla would be launching a robotaxi service in the Bay Area 'in a month or two' — regulatory approvals being the primary hang-up. The problem? Tesla hasn't even applied for the permits that would allow it to operate a robotaxi service. I checked Friday morning with the California DMV, which regulates driverless testing, and Tesla has not yet applied for the necessary permits. (A spokesperson did tell me the DMV met with Tesla to discuss the company's plans to test autonomous vehicles in the state.) So, instead Tesla has launched a ride-hailing service in the Bay Area. And yeah, users keep calling these robotaxis. To be clear, while folks — including Musk's brother and Tesla board member Kimbal Musk — may refer to these as robotaxis, they are not driving autonomously. (And if they are, it would be a violation of current regulations.) Again, Tesla does not currently have the permits to do anything beyond pay its own employees to use its fleet of EVs to drive people around the Bay Area. No autonomous driving in any way, shape, or form. You can read a recent explainer here that will take you through all of the various permits Tesla needs. This ride-hailing launch has many folks wondering, what gives? My answer: optics. A little bird Recent chatter among some little birds suggests that the National Automobile Dealers Association is focusing its efforts on VW Group spinout Scout and the EV company's plans for direct sales. The dealership industry group has opposed the direct sales model before. But unlike direct-sales adopters Tesla, Rivian, and Lucid, Scout is attached to a legacy automaker with a long-established dealer network. Got a tip for us? Email Kirsten Korosec at or my Signal at kkorosec.07, Sean O'Kane at or Rebecca Bellan at Deals! Think back to the fall of 2023. Logistics company Flexport had captured the attention of Silicon Valley, in part because of founder Ryan Petersen's fallout with ousted CEO Dave Clark and because of its acquisition of Convoy, the former freight tech unicorn that had just shut down. Here's an update. Flexport has now sold the Convoy platform to DAT Freight & Analytics. The terms were undisclosed, although the company said it had delivered a 'massive return on investment for Flexport.' Reporting from Axios' Dan Primack suggests that, yes, indeed 'massive return' is an appropriate description. Flexport never disclosed exactly what it had paid for Convoy's tech, although reporting at the time put the figure at $16 million — a fraction of the unicorn's previous valuation of $3.8 billion. Primack reported this week that Flexport sold the Convoy platform for $250 million. Other deals that got my attention this week … AIR, an Israel-based startup developing eVTOLs, raised $23 million in a Series A funding round led by Entrée Capital, with participation from existing backer Dr. Shmuel Harlap, an early investor in Mobileye. LG Innotek, the components and materials subsidiary of South Korea's LG Group, is investing up to $50 million in Aeva, acquiring an equity stake of about 6% in the U.S. lidar company. The investment is part of a broader manufacturing partnership between the two companies and marks Aeva's push into consumer electronics, robotics, and industrial automation. Notable reads and other tidbits Aurora shared some notable progress in its Q2 earnings report. The autonomous vehicle tech company has three self-driving trucks operating commercially between Dallas and Houston, logging more than 20,000 driverless miles by the end of June. It is piloting driverless trucks on a 15-hour route from its terminal in Fort Worth, Texas, to a new terminal in Phoenix and is operating at night. CEO Chris Urmson told me what is next on his list. Elon Musk's tunnel-digging company The Boring Company plans to build a 10-mile 'loop' that will connect Nashville's downtown and its convention center and airport. Important side notes: This will be funded by The Boring Company and its private partners, which are not named. And this is the start of a public process to evaluate routes, which means work won't be starting right away. Ford plans to reveal more information about its upcoming low-cost electric vehicles at an event in Kentucky on August 11. And, as senior reporter Sean O'Kane notes, the company is talking a very big game. Joby Aviation has signed an agreement with defense contractor L3Harris Technologies to 'explore opportunities' to develop a new aircraft class — specifically, a gas-turbine hybrid vertical take-off and landing (VTOL) aircraft that can fly autonomously — for defense applications. The gas-turbine hybrid VTOL will be based on Joby's current S4 aircraft platform. This isn't a contract, per se. But it does mark progress in Joby's bid to go to market in the defense and consumer sectors. While Uber continues to partner with every autonomous vehicle company under the sun, Lyft is trying to make its own deals. Lyft said it will add autonomous shuttles made by Austrian manufacturer Benteler Group to its network in late 2026. The shuttles will be deployed in partnership with U.S. cities and airports. Waymo plans to launch a robotaxi service next year in Dallas, and this time it is partnering with Avis Budget Group to manage its fleet of autonomous vehicles. In other Waymo happenings, two of its robotaxis crashed into each other at one of the company's staging lots in Phoenix this week, proving that the company's rapid expansion into new cities does not mean it has ironed out all the kinks. Waymo says it's investigating the cause. Chinese AV company WeRide received an autonomous driving permit from Saudi Arabia. The company holds similar permits in China, the UAE, Singapore, France, and the United States. One last thing Waymo co-CEO Tekedra Mawakana will join the Disrupt Stage for a wide-ranging conversation on the current state of AVs — and where the industry goes from here. TechCrunch Disrupt 2025 will be held October 27–29 at Moscone West in San Francisco. Sign in to access your portfolio
