Inflation, Information, Innovation

May 23, 2022

Over the next six weeks the Delaware General Assembly will be making decisions that will impact you and your business.

We are worried about inflation and the cost of fuel, food and raw materials.

We are concerned about data use limitations on the new economy and the stifling of innovations that benefit people and create businesses.

We need fair and open competition policies that don’t reward out-of-state contractors and people that live elsewhere. If we are going to spend billions rebuilding our state, that money should be directed to Delaware businesses with employees that will earn good money, return home, and improve neighborhoods like Wilmington, Dover, and Seaford.

Our End-of-Session Session Policy Conference is on Tuesday, June 7 and will address these issues and more. Plan now to attend and hear from key policymakers like Senate President Pro Tempore David Sokola, Speaker Pete Schwarzkopf, and policy experts on issues that could impact your future. See our agenda and register here >

Uniquely Delaware

Consumer Price Index, Philadelphia-Camden-Wilmington - April 2022

Prices in the Philadelphia-Camden-Wilmington area, as measured by the Consumer Price Index for All Urban Consumers (CPI-U), advanced 2.2% over the last 2 months. The April increase is the largest increase for this index since July 1982, and was primarily due to a 1.5% jump in the "all items less food and energy" index driven by higher prices for shelter and medical care. Over the last 12 months, the CPI-U advanced 8.4%, the largest over-the-year increase since January 1982. View the full report >

News You Can Use

Economic news this week kicks off tomorrow with the S&P Global U.S. Manufacturing and Services PMI, new home sales, and a lunch speech by Fed Chairman Jerome Powell where I’m sure he’ll address inflation and interest rates. On Wednesday we’ll learn of durable goods orders for April, while on Thursday we’ll get pending home sales data from April and an early read on jobless claims for May. The week wraps on Friday with April inflation numbers, international trade figures, and consumer spending data from April.

Earnings calls this week start today with Advance Auto Parts, followed on Tuesday by Best Buy, Agilent Technologies, Intuit, Nordstrom, and Toll Brothers. On Wednesday we’ll hear from best-in-class chip maker Nvidia, Modine Manufacturing, Splunk, and Williams-Sonoma. Dollar General, Alibaba Group Holding, Macy’s, Medtronic, Royal Bank of Canada, and Big Lots are among those that shape up the week.

Michael J. Quaranta

President

Delaware State Chamber of Commerce

Delmarva Power has been a

member since 1925!

Delmarva Power is a unit of Exelon Corporation, the nation’s leading energy provider, with approximately 10 million customers. Delmarva Power provides safe and reliable energy service to approximately 532,000 electric customers in Delaware and Maryland and approximately 136,000 natural gas customers in northern Delaware.