Category: Economy

The consumer price index, which measures price changes for a basket of goods and services, rose 3.9% year-over-year when excluding volatile food and energy prices. Over half of the increase stemmed from rising shelter costs, which rose 0.5% from November and 6.2% year-over-year. Analysts claim elevated mortgage rates have reduced supply and pushed up housing prices. See a detailed breakout of prices for various commodities here.

The Federal Reserve, responsible for maintaining inflation at 2%, has held the federal funds rate between 5.25% and 5.5% three times after 11 raises since March 2022. The Fed is expected to reduce rates this year, possibly as soon as March.

Dubbed Winter Storm Gerri, it comes days after a separate winter storm hit the central US and parts of the Plains (Why so many?). Gerri is forecast to make its way from the Four Corners region toward the central and eastern US, with 1-2 feet of snow projected in portions of Michigan, Wisconsin, and Illinois. Meteorologists say temperatures in Wyoming and Montana could reach between 20 and 30 degrees below zero and potentially below 50 degrees in the Northern Plains. The Southern Plains and Midwest could see temperatures dip into the minus 20s, while the South could see temperatures in the 20s.

The cold air pattern is projected to stay until at least the week of Jan. 22; see detailed forecasts for regions across the US here (w/clickable map).

The complex was discovered using LiDAR (light detection and ranging), a technique in which variations in surface height are measured using airborne laser mapping. The approach allows researchers to penetrate dense forest canopies or layers of Earth, revealing what lies underneath without labor-intensive fieldwork and digs. Learn more about how LiDAR—also used in many self-driving vehicles to “see” the road—has revolutionized archaeology.

The find follows a number of similar discoveries in recent years, including a sprawling urban network in the Bolivian Amazon two years ago.