Wednesday’s business headlines

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

Rent hits another new all-time high

Home rent has opened 2022 in much the way it spent 2021 – setting a new all-time high.

The median one-bedroom price in Indianapolis is $950 a month, a one percent increase year-over-year.

The median one-bedroom rent on Zumper’s national index rose to $1,374 this month, which is 12 percent higher year-over-year.

Container ship back-up breaking records

The back-up of container ships at the southern Salifornia ports is still breaking records.

Vessels waiting to enter the port complex reached a record 109 ships in early January. According to the marine exchange of southern California.

The port back-up is driving up inflation and delaying products.

GM investing in electric vehicle manufacturing

General Motors will invest $6.6 billion through 2024 in two Michigan electric vehicle manufacturing efforts backed by incentives from the state government.

The projects include a new battery factory and retooling of existing factories to make electric vehicles.