Consumer Minute: Interest rates stay low but gas prices rising

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by Sandra Parker, 13News Now

WVEC.com

Posted on April 1, 2014 at 11:05 AM

Updated Tuesday, Apr 1 at 11:51 AM

There's bad news at the gas pump. A new Energy Department report shows gas prices are heading back up. Nationwide, prices rose three cents a gallon in the past week.  The national average is now $3.58 a gallon for regular gas.  Locally, the average is a little better.  It's around $3.40 a gallon.

Investors may be reassured to know that Federal Reserve Chair Janet Yellen says interest rates will remain low for some time because of the sluggish job market.  A short-term rate increase would elevate borrowing costs and that could hurt stock prices.

According to sales, fewer people seem to be drinking soda.  Sales last year dropped about 3 percent.  That decline is almost twice as much as the year before.  The total consumption of soda in America is down to its lowest level since 1995.

Baseball season is officially open and that means ball parks will be filling up with fans.  If the Boston Red Sox are your favorite team, you need to know it's going to cost you more for a ticket to see your team at home.  The World Series Champions have the highest ticket prices in Major League Baseball.  By the way, they also serve the most expensive beer.

 

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