Milk, bread, egg prices among signs of inflation - WDRB 41 Louisville News

Milk, bread, egg prices among signs of inflation

It's been awhile, but Wall Street has had two days of solid upside investing.  Thursday, JPMorgan Chase's profit topped analyst forecasts. With U.S. oil inventories higher than expected, and investors appeared to be almost giddy.

The Dow was up 207.38 points to close at 11,446.

The Nasdaq also closed up 27.45 points at 2,312.


Frustration continues for some IndyMac bank customers.  This, as the bank is under investigation for possible fraud.

The Southern California bank was seized last week by federal regulators.

Customers have their checks, but are having trouble switching their deposits to other banks because other banks are putting holds of up to nine days on checks from IndyMac.

Now sources say the bank is at the center of an FBI investigation.  The feds may be looking into whether IndyMac engaged in fraud when making home loans to risky borrowers.

Josh Hochberg, a former Justice Dept. prosecutor, explains, "I would suspect they are looking at bad appraisals, bad underwriting, which would mean false statements on loan applications."

IndyMac is now being run by the Federal Deposit Insurance Corporation.


You've surely noticed the price of milk, bread, and eggs has skyrocked.  The price increase you're seeing for these basic foods is the second-highest its been since 1982.

The Consumer Price Index, the government's key measure of inflation, advanced 1.1% percent during the month, far faster than economists expected.

The only other time monthly inflation was that high in the past two and a half decades was the month after Hurricane Katrina.

Prices spiked then because the storm shut down oil refineries.


Ground was broken Thursday in Jeffersonville as part of the development of the Town Center. It's the first of three phases of improvements along Veterans Parkway.

The Jeffersonville Town Center project began last November.  Phase one will include the construction of turn lanes and installing a traffic light in the intersection of Town Center Boulevard and Veterans Parkway.

City leaders say they are excited about showing off their side of Veteran's Parkway, east of Interstate 65.   City council member Ron Grooms says, "Everywhere you go in this community you hear about we need more dining, more shopping we need more -- we need to be like Clarksville.  Well, we're going to be better than Clarksville."

Beef O' Brady's has announced it's locating in the center portion of the building.  It is scheduled to open in the fall.

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