From 2020, grocery prices in the USA have increased According to the Bureau of Labor and Statistics, by 20%. According to the latest data collected by American households in 2023, American households spent roughly $270.21 per week on groceries. United States Census Bureau.

Hawaii and Alaska rank amongst the highest, with average weekly costs of $334 and $329, respectively. Both states receive a major amount of food from the mainland, so shipping costs drive up prices.

Californians pay a mean of $298 every week for groceries – the third highest in the country. The total cost of living in the Sunshine State is 38.5% higher than the national average, making it one of the most costly states lives in, according to.

On average, Mississippians pay $291 per week for food, it’s reported to be the fifth largest in the United States. According to the U.S. Census Bureau, Mississippi’s poverty rate is eighteen%, making it the second most impoverished state in the country. Similarly, New Mexico is one of the poorest states in the country and food costs are amongst the highest.

Midwestern states like Nebraska, Iowa and Wisconsin have some of the lowest food costs in the country, with the average weekly grocery bill starting from $231 to $235. These states are amongst the leading agricultural producers in the country, which lowers food prices.

In August 2024, Federal Trade Commission Chair Lina Khan announced that the agency planned to investigate grocery prices, which have been rising steadily since the Covid-19 pandemic.

“We want to make sure that major companies do not use their power to inflate grocery store prices for American families,” he added. Khan said in a press release. Additionally, this increase in grocery prices could have a fair more significant impact on Black Americans. While the overall poverty rate in the United States is 11%, data shows that African-American poverty is sort of 18%. collected by United States Census Bureau. In a study conducted by the National Institutes of Health, researchers discovered that compared to the national average, African Americans are more likely to experience food insecurity.

Bozoma Saint John takes his Fortune 500 marketing skills to his own empire. The former Netflix marketing executive launched her own wig and hair care company, Eve By Boz.

Saint John, 47, has already reached historic highs in her profession. After leading the marketing departments of tech giants like Apple, Uber and Netflix, he wants to start out his own empire.

She left the favored streaming platform in 2022 after which published a memoir about how, along with her premature daughter, she lost her husband to cancer. Healing from losses, Saint Jan wants to start out a legacy that honors her past and future.

She saw a gap within the hair care industry, particularly wigs, where women of color owned businesses. Especially for products aimed toward diverse women, with the identical demographic leading the best way, the trouble was too sparse for Saint John.

“Women of color and black women don’t really have a voice in the production process, they are the ones consuming the majority of the product,” she said.

Understanding this need, she began developing her line within the spring of 2023. She attended a hair show in Guangzhou, China, with a hair stylist to attach with vendors. She traveled across the continent to learn more about sourcing products.

After doing her homework, Saint John decided to speculate in herself and lift money to launch her wig enterprise. She’s put about “a few million” into the business, but she has the knowledge to succeed.

“I’ve worked for big enough companies and I have a lot of inventory in a lot of places,” she explained. “It’s time to reinvest in myself and that is exactly what I made a decision to do. Besides, I can have total control. I don’t need anyone telling me what to do.”

Saint John’s is changing the sport by offering additional lace colours for wigs. Diversifying color decisions will higher serve customers of all skin tones, which also stays a priority for Saint John.

“I don’t want to go on YouTube or Google and watch 14 million videos of black women and women of color working in kitchen pharmacies dyeing lace to match their skin,” she says. “My intention is for other companies to see the success of this company and follow suit.”

Eve By Boz will premiere in Saint John’s other project, an entry as a solid member on “The Real Housewives of Beverly Hills.” While it’s a coincidence, Saint John welcomes the eye for a product he considers a winner. The 171-piece Eve By Boz collection is now available exclusively on her website.

AND latest report details the grim reality in which America goes on to tackle the housing shortage and financial obstacles for people wanting to own a house. According to the National Association of Realtors, homebuyers are older and wealthier than ever before, and the average age of homebuyers is at an all-time high.

The median age of buyers rose to a high of 56, up from 49 in 2023. The median age of first-time buyers rose to 38 from 35 in 2023, and the age of repeat buyers rose to 61 from 58 in 2023.

“Highlighting the barriers to entry into the housing market, the average age of first-time homebuyers has hit an all-time high of 38. In the 1980s, the typical first-time homebuyer was around 20 years old,” the report said.

But age is just not the only factor that has increased. It can be the average income of buyers.

“Over the past two years, first-time home buyer household incomes have increased by $26,000. “This year’s report shows that the median household income for first-time homebuyers was $97,000,” the report said.

The racial gap for homebuyers is growing

Unfortunately, there continues to be a racial gap between white and black homeowners.

“Overall, 83% of buyers were white/Caucasian, up from 81% last year,” the report said. Only 7% of recent buyers identified as black/African American.

According to A report mortgage lending to Black Americans declined by 16% in 2022. Mortgage denial rates, nonetheless, increased by 2.6 percentage points.

The report reveals one other dramatic change: buyers with children are less more likely to purchase homes.

Of all homebuyers, 62% are married couples, 20% are single women, and 8% are single men. The percentage of buyers with children under 18 dropped to the lowest level and amounted to 27% of all buyers.

The report shows that multi-generational housing stays popular, with the highest percentage ever of individuals purchasing a house that may accommodate multiple generations at 17% of all buyers. The commonest reasons are savings, elder care and the return of young adults.