(WFSB) – Here’s the Morning Business Report for June 10.
How does Connecticut rank for retirement?
Retirement planning app Silvur has calculated the average cost of living for each state and how long the average couple’s savings will last in retirement.
The average Medicare cost for the state was $8,300 and the other monthly spend was $6,800.
That was in the bottom ten.
Economists said core consumer inflation, excluding food and energy, jumped 3.5 percent, the highest level since 1993.
Investors are watching the data to see if it looks like inflation could be hotter and more persistent than the Fed expects it to be.
Stocks have been worried about inflation in the past month or so.
Campbell’s cooling down
Campbell’s Soup isn’t looking too hot in a post-pandemic world.
The company, known for its soups, pasta sauces and snacks from brands like Pepperidge Farms and Prego, saw increased demand during the early days of the pandemic. However, sales of snacks fell 8 percent in the third quarter while sales of its soups and jarred pasta sauces dropped 14 percent.
Stock market update
Stocks ended modestly lower on Wednesday following another quiet trading session.