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Tuesday 12 March 2024

Trader Joe's tote goes viral

07:11

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Also: 7K gallons of reward-card gas? ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌  ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ 

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The Daily Money

ALL THE MONEY NEWS YOU NEED TO KNOW

Tue Mar 12 2024

 

Daniel de Visé Personal Finance Reporter

Good morning! It's Daniel de Visé with your Daily Money.

Today, we'll feature two stories about consumerism run rampant.

First: A humble iteration of the reusable supermarket bag, the Trader Joe's canvas mini tote, is fetching up to $500 online, Jonathan Limehouse reports, evidently as a result of spiraling social media hype.

The viral totes are being sold on eBay, Facebook and other e-commerce marketplaces for the same prices as designer handbags. Fans are waiting in long lines before doors open at Trader Joe's stores.

What is their appeal? Read the story.

Rewards card brings penalties in the end

In unrelated but similarly baffling news, a 45-year-old Nebraska woman is facing a criminal charge for allegedly using a loophole to steal over 7,000 gallons of gas.

The woman is accused of improperly using her rewards card from Pump and Pantry in Lincoln, Nebraska, at least 510 times over six months, KOLN-TV reports.

There's normally nothing wrong with using a rewards card, but police say the Lincoln woman figured out a way to beat the system.

How did she do it? Read the story.

📰 More stories you shouldn't miss 📰

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Carcinogens found in skincare products.
What are the 2023-2024 tax rates on capital gains?

About The Daily Money

Each weekday, The Daily Money delivers the best consumer news from USA TODAY. We break down financial news and provide the TLDR version: how decisions by the Federal Reserve, government and companies impact you.

Daniel de Visé covers personal finance for USA Today.

Inflation, as measured by the U.S. Bureau of Labor Statistics Consumer Price Index Summary, jumped 9.1% in June compared to June of 2021. The number was higher than in any month since November 2008, with the price of fuel oil soaring. The news was staggeringly bad for an American economy that is likely on its way into recession because people's purchasing power has been sharply eroded. (Inflation is an even greater hardship for people   who are already struggling financially. This is    the city where the most people rely on food stamps in every state   .)   The debate among policy makers and economists about how to best tame inflation quickly has not yielded a solution. The Federal Reserve continues to raise rates, one of the few weapons it has in its central bank arsenal.     Some economists believe the Fed has been too slow. If it had begun raising rates earlier, as far back as last year, inflation may not have surged as much. Others think that if the Fed raised rates in 2021, it would have undermined economic expansion and pushed unemployment higher. Ian Shepherdson, chief economist at Pantheon Macroeconomics,   commented about the inflation to new outlets, saying: "This report will make for very uncomfortable reading at the Fed."    Among the most pessimistic experts who have formulated a suggested path out of rising inflation is Larry Summers, former U.S. treasury secretary and former president of Harvard. He is also considered among the most gifted economists of his generation. Summers recently told an audience at the London School of Economics: "We need five years of unemployment above 5% to contain inflation -- in other words, we need two years of 7.5% unemployment or five years of 6% unemployment or one year of 10% unemployment." Unemployment has not been over 7% since   some of the worst days of the Great Recession.     Inflation's effects have been uneven. While the year-over-year figure for all goods and services measured by the BLS in June was 9.1%, some items were up more than 20%. To determine the household items that are soaring in price, 24/7 Wall St. reviewed the BLS' Consumer Price Index Summary June report. Prices are compared to June 2021.    Gasoline prices lead the way with at least a 52% increase, depending on the type. Fuel oil prices nearly doubled. Some staple items on the American dinner table also rose. Butter prices rose 21%, and egg prices were 33% higher. Each of the 40 items on this list has jumped in price by 14% or more, with   items ranging from baby food to milk and cookies to car body work. (Also see, this is    the price of bacon and eggs the year you were born   .)    The new CPI report makes one thing very clear. Inflation is so high across so many goods and services that Americans buy that there is no reason to believe the pace of the increase will come down soon.

Annual inflation increased in February to 3.2% as gas prices, rent climbed. Core price gains, which exclude food and energy, eased slightly

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The Trader Joe's logo is seen on a normal sized tote bag. The grocery store chain's canvas mini tote bags are being resold online for as much as $500 amid a social media craze.
 

'Madness': Trader Joe's mini tote bags are reselling for up to $500

Trader Joe's canvas mini tote bags, which retail for $2.99, are being sold by third-party resellers for up to $500 amid a recent social media craze.

Gas pumps are pictured in Oklahoma City, on Tuesday, Dec. 5, 2023.
 

Nebraska woman facing charge for loophole that got her free gas

A 45-year-old woman from Lincoln, Nebraska, was arrested for allegedly stealing over 7,000 gallons of gas over a six-month period.

21. Using the wrong soap     The right soap for one's skin depends on age and baseline oil production, according to Richmond. People with oily skin will need a foaming cleanser to remove the excess oil and should be diligent about washing their face twice daily to prevent acne and an oily sheen, she noted. "More than twice daily is probably not necessary and may dry out even oily skin."
 

Carcinogen found at 'unacceptably high levels' in popular acne products

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Over 60,000 Jool Baby Nova Swings were recalled Thursday for posing a possible suffocation risk to infants.
 

Jool Baby Nova Swings recalled over suffocation concerns

About 63,100 Jool Baby Nova Swings were recalled Thursday for having an "incline greater than 10 degrees," a defect that could harm sleeping infants.

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