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Wednesday’s business headlines

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

IRS issues nearly 8 million tax refunds

The IRS has issued nearly eight million refunds worth about $15.5 billion. That’s as of Feb. 3. Now the average refund amount was $1,963. It’s down from $2,200 at the same time last year. That average could change as the IRS processes millions of returns before the April 18th deadline.

Gen Z and millennial renters have lower inflation rates | Rent getting more expensive in Indianapolis

A new report from Redfin shows the rent situation is gradually improving for young adults. It shows the market isn’t as bad as it was just a few months ago for people taking on a new lease. Rental price growth is slowing. Some of the hottest rental markets are actually seeing price declines. Meanwhile, rent in Indianapolis is getting more expensive. Redfin says local rents were up 15% over the past year. That’s the third biggest jump in the nation. That makes the median asking rent in Indianapolis just over $1,500.

Amazon to double down on grocery business

While Amazon has intentions of doubling down on its physical grocery business when the company figures out what kind of format it wants, Amazon execs told the Financial Times it’s experimenting with selection check out formats, assortment, and prices.

Airbnb sales forecast higher than expensive

Even with worries about the economy, Airbnb says guests are excited to travel now. 2022 is a record year for the company. It was their first full year of profit. Airbnb has been a big beneficiary of the work and lifestyle changes brought on by the pandemic as people are working remotely and even tacking out a couple of extra days to a vacation, and just working there as well.