Good morning! As you start your day, 10 News is here to break down the biggest financial stories in CNN’s Money Matters. From market trends and recall alerts to one of the largest LEGO sets yet, we’ll cover what’s impacting your wallet and what you need to know to stay informed.
Inflation Update: Cost of living remains high
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Inflation is on the rise again, continuing to squeeze millions of Americans’ budgets. For the first time in nearly three years, reports show that wages are no longer outpacing inflation.
According to the Department of Labor, consumer prices increased 3.8% in April compared to a year ago, the highest annual reading since May 2023. This jump comes as energy prices continue to climb, driven in part by the ongoing conflict involving Iran.
Before the war began in late February with coordinated U.S. and Israeli airstrikes, inflation had slowed to 2.4%. But in March, the conflict triggered a major energy price shock, sending inflation higher.
“For consumers, that means the cost of living remains uncomfortable,” Sung Won Sohn, a finance and economics professor at Loyola Marymount University, wrote in a note Tuesday. “For the Federal Reserve, it means rate cuts are likely to be pushed in the future.”
Recall Alert: Meat and poultry products pulled due to Salmonella risk
The U.S. Department of Agriculture’s Food Safety and Inspection Service has issued a public health alert for several meat and poultry products that may be contaminated with Salmonella.
The affected products include:
- Mamma Cozzi’s Biscuit Crust Sausage and Cheese Breakfast Pizza
- Mamma Cozzi’s Biscuit Crust Cooked Pork Belly Crumbles, Cooked Bacon Topping, Pepper and Onion Breakfast Pizza
- Pork King Good Sour Cream and Onion Pork Rinds (including Party Size)
- Culinary Circle Ultra Thin Crust Chicken Bacon Ranch
- Great Value Thin Crust Chicken Bacon Ranch
Details about establishment numbers and the states where these products were sold can be found here. Product labels are available here.
So far, there have been no confirmed reports of illness linked to these products. If you purchased any of them, you’re advised to throw them away or return them to the store.
To report a problem with a meat, poultry, or egg product, you can access the Electronic Consumer Complaint Monitoring System 24/7 at foodcomplaint.fsis.usda.gov/eCCF/ .
Everything Is Awesome: LEGO Unveils Epic Lord of the Rings Set
If you’re a LEGO fan, there’s a magical new set that might just top your wish list. LEGO is celebrating the 25th anniversary of The Lord of the Rings with an 8,278-piece recreation of the iconic White City of Minas Tirith.
The set captures the majestic city of Gondor, featuring its towering architecture, layered walls, and the iconic citadel. It also includes 10 minifigures: Gandalf the White, Faramir, Denethor, Peregrin Took, Aragorn as King Elessar, Arwen, and four Soldiers of Gondor, plus the legendary Shadowfax horse figure and themed accessories like Gondor helmets, shields, and Aragorn’s crown.
The set will be available for LEGO Insiders Early Access starting June 1, with a general release on June 4. The price is set at $649.99. Plus, those who purchase the set between June 1 and June 7 will receive the LEGO Icons The Lord of the Rings: Grond as a gift.