Mostly sunny, seasonable, and pleasant. The better weekend day. .

Increasing clouds with some rain showers late at night; a few snow showers in the Poconos.

FILE - Gas prices are displayed at a gas station Friday, March 11, 2022, in Long Beach, Calif. Rebates or cash payments are being proposed in California, New Mexico, Pennsylvania and elsewhere as states are flush with cash and Americans are facing the highest inflation in four decades. (AP Photo/Ashley Landis, File)

FILE - Gas prices are displayed at a gas station Friday, March 11, 2022, in Long Beach, Calif. Rebates or cash payments are being proposed in California, New Mexico, Pennsylvania and elsewhere as states are flush with cash and Americans are facing the highest inflation in four decades. (AP Photo/Ashley Landis, File)

WASHINGTON (AP) — An inflation gauge closely monitored by the Federal Reserve jumped 6.4% in February compared with a year ago, with sharply higher prices for food, gasoline and other necessities squeezing Americans' finances.

The figure reported Thursday by the Commerce Department was the largest year-over-year rise since January 1982. Excluding volatile prices for food and energy, so-called core inflation increased 5.4% in February from 12 months earlier.

Robust consumer demand has combined with shortages of many goods to fuel the sharpest price jumps in four decades. Escalating the inflation pressures, Russia's invasion of Ukraine has disrupted global oil markets and accelerated prices for wheat, nickel and other key commodities.

The inflation spike took a toll on consumers, whose spending in February rose just 0.2%, down from a much larger 2.7% gain in January. Adjusted for inflation, spending actually fell 0.4% last month.

The Federal Reserve responded this month to the inflation surge by raising its benchmark short-term interest rate by a quarter-point from near zero, and it's likely to keep raising it well into next year. Because its rate affects many consumer and business loans, the Fed's rate hikes will make borrowing more expensive and could weaken the economy over time.

Michael Feroli of JPMorgan is among economists who now think the Fed will raise its key rate by an aggressive half-point in both May and June. The central bank hasn't raised its benchmark rate by a half-point in two decades, a sign of how concerned it has become about the persistent surge in inflation.

If you know of local business openings or closings, please notify us here.

· Fortunoff® Backyard Store will celebrate the opening of its newest location at Hamiliton Crossings from April 1-3 with a Grand Opening Weekend featuring giveaways and deals and a donation to Lehigh Valley Reilly Children’s Hospital.

. Pocono Dessert Co. opens women owned  coffee  and dessert  shop at 2185 PA-611 in Swiftwater

· Handmade Mystic opens crystal shop at 2 S. 4th Street in Emmaus

· Anne Baum named first president of Lehigh Valley Reilly Children's Hospital

· Lashes by Gab opens location at the Promenade Shops of Saucon Valley, across from the movie theater

· Elite Salon & Suites to open at the Promenade Shops of Saucon Valley in 2022. Independent salon owners will have their own suite space within the store

· Purr Haus opens at 27 South Seventh Street in Emmaus. The boutique will offer a collection of pet supplies and cat-themed apparel.

. The Hummus House opens Bethlehem location at 518 E. Third Street

· New beauty studio, Glow Factory, opens at 1708 Washington Blvd. in Easton

· New salon, Mirror Beauty Studio, to open at 2002 Hanover Avenue in Allentown. Grand opening set for Dec. 3.

· A Red Wing shoe store will open on Airport Road in Allentown at the site of the former Zoup! restaurant.

· Paisley & Company Bath Boutique & Fragrance Bar in Kutztown reopens for in-person shopping

· Bitty & Beau's Coffee opens at 74 W. Broad Street in Bethlehem

· American Family Care opens urgent care center in the County Line Plaza, off of Route 113 near Souderton, Bucks County

· Charming Charlie, a women's contemporary fashion and accessories retailer, will return to the Outlets at Wind Creek.

· All Weather Selvedge Denim Co. (AW) opens at The Promenade Shops at Saucon Valley in suite 608, next to Evolve Salon & Spa.

· PrimoHoagies, the casual restaurant known for its gourmet hoagies, plans to open two restaurants in Stroudsburg.

· Laura McLain, executive director of the Slate Belt Chamber of Commerce, will retire at the end of 2021 after 21+ years of service.

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