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New Hampshire
Latest inflation figures are good news – even if they give a lot of people heartburn • New Hampshire Bulletin
The U.S. economy is slowing, but not crashing. In the dismal science, this is what counts as good news.
That’s the message I took away from the latest inflation data, released May 15, 2024, which showed U.S. consumer prices rising 3.4 percent in the 12 months to April 2024. This is down slightly from the 3.5 percent year-over-year increase reported in March 2024.
In other words, while prices are rising, they’re not going up as sharply as they once were. That’s good news for shoppers; the U.S. economy is far from the 9.1 percent annual inflation seen in June 2022.
While energy and shelter prices increased in April, these gains were relatively modest. Meanwhile, food prices remained steady compared to last year and even declined by 0.2 percent compared to March. What’s more, people in the market for a car were in luck: New and used vehicle prices fell 0.4 percent and 6.9 percent, respectively, in April.
The “core” consumer price index – which doesn’t include volatile food and energy prices and is often considered better at predicting future inflation than so-called “headline” CPI figures – is also down slightly. After posting a year-over-year increase of 3.9 percent in January and 3.8 percent in February and March, it slowed to 3.6 percent in April.
So the overall report is relatively positive: It didn’t show the uptick in inflation that many consumers feared, and reported inflation rates were actually slightly lower than market expectations.
As an economist, I see this data report as yet more evidence that economic growth is slowing – in a good way. The economy grew at a lower-than-expected 1.6 percent rate in the first quarter of 2024, according to the most recent gross domestic product data from the Bureau of Economic Analysis. The most recent jobs report also showed a slowdown in hiring, and the latest data on job vacancies similarly showed the labor market cooling off.
Why the Fed is paying close attention
The Federal Reserve’s main objective is to strike a balance between two goals: maintaining stable employment and ensuring price stability. It does this by managing and influencing interest rates.
Lowering rates stimulates the economy, which encourages economic growth and job creation – but that can fuel inflation. Raising rates does the opposite: Economic growth slows, which dampens inflation, but also hinders employment.
So, when inflation started increasing dramatically after the COVID-19 pandemic, the Federal Reserve responded with a two-year campaign of rate hikes – they’re currently at a 23-year high. Since this raises the cost of borrowing, investors and potential homebuyers are keen for the Fed to dial back its rates.
After May’s report, I don’t believe the Federal Reserve will be in any rush to cut interest rates from their current elevated level. There’s a slowdown, to be sure, but the slowdown is so steady that it’s not pulling prices down in any rapid fashion.
This is no doubt frustrating for the Fed – which has an inflation target of 2 percent – as well as for potential homebuyers. But it’s evidence that the economy is stable at the moment. Inflation isn’t surging, and consumer spending, according to the Bureau of Economic Analysis, is still growing. In March, consumer spending increased 5.8 percent year over year, up from February’s 4.9 percent rate.
All eyes on the American shopper
Going forward, hopes for a “soft landing” – economist-speak for when the Fed slows inflation without triggering a recession – will depend in large measure on U.S. shoppers. Consumer spending makes up roughly two-thirds of U.S. gross domestic product.
If American shoppers suddenly stop spending, then inflation will slow considerably, job vacancies will evaporate, and gross domestic product could contract. At that point, the Fed will turn attention away from inflation and toward economic stimulus, and rates will fall.
I mention this because a recent report by the Federal Reserve Bank of St. Louis showed a troubling uptick in consumer credit card delinquency rates. If much of the recent increase in consumer spending is due to Americans relying more on credit cards, then the economy could be on shakier ground than it appears.
The good news is that delinquency rates are still way below where they were ahead of the Great Recession, which lasted from December 2007 through June 2009. So, while this data may be troubling, there’s no need to panic just yet.
In short, while inflation rates still aren’t to the Fed’s liking, the economy – for now – appears to be on a stable path.
This article is republished from The Conversation under a Creative Commons license. Read the original article.
MANCHESTER, NH – A five-run second inning and an eight-run eighth powered the New Hampshire Fisher Cats (27-23) to a Wednesday night win against the Altoona Curve (23-30) at Delta Dental Stadium, 14-3. In the eighth Inning, third baseman Sean Keys, second baseman Cutter Coffey, and catcher Patrick Winkel all
New England Travel
These hikes are full of history, wildlife, and gorgeous views.
Hiking trails are full of history, beauty, and wildlife, but with so many options, it can be hard to choose your next path.
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Car camping is trending this season, according to Hipcamp
The following are 12 great hikes recommended by the Massachusetts Department of Conservation & Recreation (DCR), Mass Audubon North Shore, Berkshire Natural Resources Council (BNRC), and the Appalachian Mountain Club.
Massachusetts
Skyline Loop Trail in Blue Hills Reservation in Milton
The 2.64-mile Skyline Loop Trail in the Blue Hills Reservation in Milton gives hikers a taste of the longer, nine-mile Skyline Trail. The loop takes hikers over five hills, including Hancock Hill, which was once the farm of John Hancock of Declaration of Independence fame and the first independent governor of the Commonwealth of Massachusetts.
There is a tower built by the Civilian Corp of Engineers during the Great Depression, and hikers can look out over Boston and the Harbor Islands
Cedar Swamp Trail in Douglas State Forest in Douglas
As hikers experience the Cedar Swamp Trail, a .5-mile hike, the environment changes from a typical New England mixed hardwood forest into a cedar swamp as Atlantic white cedar and hemlock trees replace oak, maple, birch, beech, and ash.
“The thick growth of these evergreens allows little light to reach the forest floor,” according to DCR. “Keep an eye out for the unique foliage native to the swamp like sphagnum or ‘peat’ moss, skunk cabbage and cinnamon ferns, as well as the wildlife that calls the swamp home.”
Robert Frost Trail in Mount Holyoke Range State Park in Amherst
Fans of Robert Frost can experience nature through the writer’s eyes on this 4-mile hike on the Robert Frost Trail that honors the iconic poet’s Massachusetts connection. Frost spent part of his life in Massachusetts, teaching English at nearby Amherst College.
Hikers can look for a hidden pool and a fork in the road while exploring the interpretive trail, DCR noted, which is an easy to moderate hike.
Read more about these state park hikes: 3 beautiful hikes at Massachusetts State Parks
Rockery Trail at Ipswich River Wildlife Sanctuary in Topsfield
For a unique, family-friendly hike involving rocks, head to the Rockery Trail at Ispwich River Wildlife Sanctuary, according to the Mass Audubon North Shore.
The 1/2-mile trail, the most popular hike at the sanctuary, includes boardwalks and features a rockery built by Thomas Emerson Proctor in 1905. You can climb the large stone structure and also walk through the little tunnel underneath. The wide easy trail is great for all ages.
Professor Chandler’s Long Walk at Rough Meadows Wildlife Sanctuary in Rowley
Hikers enjoy panoramic views at Rough Meadows Wildlife Sanctuary, which includes the scenic Professor Chandler’s Long Walk. The .65-mile easy trail takes hikers out into the Great Marsh, the largest salt marsh in New England, and is great for bird watchers.
The trail is named after Professor Alfred D. Chandler, Jr., who donated much of the land.
Woodland Loop at Cedar Pond Wildlife Sanctuary in Wenham
The Woodland Loop trail is a universally accessible trail at Cedar Pond Wildlife Sanctuary. The .9-mile trail offers a loop through deciduous and pine forest and opens up to a small meadow at the midpoint.
These All Persons Trails are ADA compliant and include universally accessible interpretive features. Visitors can expect handrails, braille and tactile features, wildlife viewing boardwalks and platforms, audio tour stops, seating, and more, according to Mass Audubon.
Read more about these North Shore trails: 3 beautiful hikes on the North Shore
The Meadow Loop Trail in Great Barrington
Animals lovers will love the accessible half-mile Meadow Loop Trail in the 267-acre Thomas & Palmer Brook Reserve, according to the Berkshire Natural Resources Council. The path, conveniently close to downtown Great Barrington, has excellent wetland and meadow views with benches for resting and taking in the scenery. The trail is also great for beaver watching.
For those who want to keep hiking, the trail connects to the 0.6-mile Woodland Trail and 0.3-mile Whale Rock Trail, both moderate.
Mahanna Cobble Trail in Pittsfield
Those looking for a challenge can tackle the 2.8-mile roundtrip trek on the Mahanna Cobble Trail.
The trail starts at Bosquet Mountain ski area, where hikers climb a beginner-level ski slope before getting into the forest. Hikers are rewarded with views of Kennedy Park, Mass Audobon’s Pleasant Valley Wildlife Sanctuary, and Yukon Ridge.
Sunset Rock Trail in North Adams
Hikers who tackle the easy 1.6-mile roundtrip Sunset Rock Trail at Hoosic Range Reserve later in the day can take in the Taconic Ridge and Green Mountains and it’s a great place to view the sunset.
For hikers seeking even more great views in the 944-acre reserve, continue on for 3 miles along the Hoosic Range Trail. This trail is considered difficult because of its length, and the 6-mile roundtrip hike is a gradual climb.
Read more about these Berkshires hikes: 3 beautiful hikes in the Berkshires
New Hampshire
Arethusa Falls Trail in Hart’s Location
Hikers on the Arethusa Falls Trail in Crawford Notch State Park are in a for a real treat, according to the Appalachian Mountain Club: New Hampshire’s highest waterfall. It’s a 1.3-mile moderate hike to the near 200-foot waterfall. Once at the waterfall, folks can hike down to the bottom and sit and dip their feet in the water.
The falls were discovered by Edward Tuckerman in 1875, according to visitwhitemountains.com, who named it after a nymph in Greek mythology that turned into a fountain.
Zealand Trail in Bethlehem
Zealand Trail connects to the Appalachian Trail, and hikers get to experience a short section of it before it goes out to Zealand falls. It’s about 2 1/2 miles to the falls.
The Appalachian Trail, which stretches from Maine to Georgia, is the longest hiking-only footpath in the world, and the New Hampshire portion offers more miles above the treeline than any other state on the trail, according to the Appalachian Trail Conservancy.
There is also an AMC Zealand Falls Hut on the trail, where hikers can stay overnight with a reservation.
Mount Willard Trail in Hart’s Location
Mount Willard’s elevation is 2,865 feet, and the summit is located in Crawford Notch State Park. It is a 1.6-mile moderate hike up to the summit, and hikers follow an old carriage road.
Folks start out at the top of Crawford Notch and hike along forests and along a stream, and there’s a tiny waterfall and an area called the Centennial Pool. Hikers can see the southern end of the Presidential Range, Crawford Notch, Mount Tom, and Mount Willey.
Read more about these hikes in the White Mountains: 3 beautiful hikes in the White Mountains
✨ The Dip is coming back to the park!
They had you dancing last time, and they’re back to do it again. Seattle’s seven-piece soul and R&B powerhouse The Dip brings a three-piece horn section, deep grooves, and a #1 Billboard R&B album’s worth of heat to the Wilcox Main Stage. This is the kind of band that makes you want to stay out way past your bedtime.
THE DIP in The River House Concert Series on the Wilcox Main Stage
📍 Prescott Park Arts Festival, Portsmouth NH
📅 Wednesday, July 1 at 7PM
🫶 Recommended Donation
No reservations required to attend, but grab one and have your spot waiting for you!
Prescott Park Arts Festival
07:00 PM – 11:59 PM on Wed, 1 Jul 2026
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