Wednesday’s business headlines

INDIANAPOLIS (WISH) — Here’s a look at Wednesday’s business headlines with Jane King.

Inflation numbers just released

A 7% increase is the biggest jump we’ve seen year-over-year since June of 1982.

It was what we expected however, so the market is not reacting to negatively to it.

Oil prices climb above $81 per barrel

U.S. oil prices rose sharply, climbing above $81 a barrel for the first time in two months.

Government forecasters revised higher their gas price forecast.

The U.S. Energy Information Administration now projects gasoline prices will average $3.06 a gallon in 2022. That’s up from the EIA’s early December forecast of $2.88 a gallon.

1 in 4 say they are handling money well

A survey from TIAA finds that most people don’t give themselves high marks when it comes to their financial wellness.

Only about one in four say they are handling their money well.

While the COVID-19 pandemic has raised awareness about having money set aside in an emergency fund, many people have less than six months worth of expenses in savings.

Workplace benefits can go a long way toward helping people improve their financial health, the survey found. Yet not everyone takes advantage of them.

Bank of America cutting overdraft fees

Bank of America is cutting overdraft fees.

The bank announced plans to reduce overdraft fees to $10 from $35.

Many feel overdraft fees make it harder for those who are financially struggling to work their way out of that situation.

Oreo celebrating 110th birthday with new flavor

Oreo is celebrating its 110th birthday with a first-ever flavor.

For the celebratory occasion, Oreo is releasing a special flavor it calls chocolate confetti cake. It has sprinkles galore.

Oreo said that it’s the first-time it has used sprinkles both in and on the cookie. Retailers will start selling the celebratory treats Jan. 31 for a limited time.