The pace of sales at U.S. retailers was unchanged in September from August as rising prices for rent and food chipped away at money available for other things. Retail sales were flat last month, down from a revised. 0.4% growth in August.
What keeps driving inflation so high? The answer, it seems, is nearly everything. Supply chain snarls and parts shortages inflated the cost of factory goods when the economy rocketed out of the pandemic recession two years ago. Then it was a surge in consumer spending fueled by federal stimulus checks. Then Russia’s invasion of Ukraine disrupted gas and food supplies and sent those prices skyward. Since March, the Federal Reserve has been aggressively raising interest rates to try to cool the price spikes.
A new study finds when urban and rural data is combined the average price for North Dakota home sales climbed 51% from $163,144 in 2010 to $246,786 in 2020. In 2021, sales prices increased another 8% to $267,404. Rising mortgage interest rates further impact affordability. During that same period, 2010 to 2021, renters weathered gross rental rates that grew by 49%, more than twice the rate of inflation. The assessment was conducted by North Dakota State University’s (NDSU) Center for Social Research.
Grand Forks may be getting a second boutique hotel downtown. Developers are eying an eight room inn called The Artisan at 408 DeMers Avenue. The lower level would feature commercial storefronts. Work on restoring the exterior of the building and new windows is already underway. The new look also features rooftop access and railings. Construction of several other downtown projects continue to make progress. They include the larger Olive Ann boutique hotel…The Beacon complex…and Franklin on Fourth.
(Picture: Beacon-Olive Ann-Franklin on Fourth & The Artisan on the bottom)
East Grand Forks is looking at updating a 2018 wage study of city employees. A Market Analysis with calibration and new pay plan would cost around $13,000 dollars. City Administrator David Murphy says the wage review can be an important tool in an effort to remain competitive.
Two of the nation’s largest grocers have agreed to merge in a deal that would help them better compete with Walmart, Amazon and other major companies that have stepped into the grocery business. Kroger on Friday bid $20 billion for Albertsons Companies Inc. Together the companies employ 710,000 people.
Delta Air Lines is posting a $695 million profit for the third quarter, which includes much of the peak summer travel season. Delta said Thursday that it expects its fourth-quarter revenue will be higher than the comparable figure from 2019, before the pandemic. Delta’s bottom line is getting a boost from higher average fares and a lucrative credit-card business. That’s helping the airline overcome higher fuel prices. Delta serves the GFK.
Netflix will unveil next month the first version of its video streaming service with ads. The move will give cost-conscious viewers a chance to watch most Netflix shows at a steep discount in exchange for putting up with commercial interruptions. The ad-supported service is scheduled to debut Nov. 3.
The North Dakota Department of Commerce today announced that four communities have been selected for the 2022 Artists on Main Street Program. Applicants are provided technical assistance and funding to develop and install art in their communities. The communities in this year’s program are Williston via Williston Downtowners Association, Minot via Visit Minot, Hazen via Hazen Chamber of Commerce/CVB, and Divide County via Meadowlark Arts Council.
The Empire Arts Center has named Matthew (Matt) Ternus as the new Development & Marketing Director. Ternus comes to the Empire Arts Center from the Community Violence Intervention Center (CVIC) where he worked as a Prevention & Education Specialist. He graduated from the University of North Dakota with a BA in Political Science. Ternus will begin in his role on Monday, October 17th
Bree Maki has been appointed to serve as Minnesota’s Director of the Office of Broadband Development. Maki is the senior outreach director and state broadband and telecommunications outreach director for Senator Tina Smith. She will replace previous director Angie Dickison.
An online tool from the Minnesota Department of Agriculture (MDA) to connect current farmers considering retirement with beginning farmers looking for land has undergone a major upgrade. Minnesota FarmLink, a listing service for Minnesota farms and land parcels for sale or rent, now offers users the ability to post, edit and delete their own listings.
New Zealand’s government is proposing a tax on the greenhouse gasses that farm animals make from burping and peeing as part of a plan to tackle climate change. The government says the farm levy would be a world first and that farmers should be able to recoup the cost by charging more for climate-friendly products. But farmers quickly condemned the plan.
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