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| May 15, 2026 |
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| Grocery Prices Are Climbing Like It’s 2022. What You Can Do |
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By Sarah Chacko
First gas, now groceries.
The Consumer Price Index for groceries rose more in April than in any month since mid-2022 — evidence that this year’s spike in oil and fuel prices has spread through the food supply chain. In fact, as fallout from the Middle East war drives up the cost of transporting and producing goods, the economy has hit an inflection point: The overall inflation rate is rising faster than average wages for the first time in three years.
The numbers reflect what most of us feel at the register: Paychecks simply aren't stretching as far as they used to. Here are our favorite strategies for shielding your budget — plus a list of the groceries seeing the steepest hikes. |
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| Your SoFi Toolkit |
| The new SoFi Smart Card offers unlimited 5% cash back rewards on eligible grocery store purchases.1. |
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| Hot Inflation |
Consumers, businesses, and policymakers expected the war in Iran to trigger at least a short-term surge in energy prices, but now that we’re in the thick of the increases, the clock is ticking on how long we can call it short-term. At some point, it will meaningfully hurt consumer demand and we won't be able to explain it away.
To set reasonable expectations about how inflation might change — and how high the headline number can go — we looked at how oil shocks have affected the Consumer Price Index in the past. |
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Informed investment decisions start with informed investors. Here's what's making headlines:
🕵️ In an unusual twist, Capital One (COF) filed a lawsuit against alleged scam artists it couldn’t identify, saying the legal process of discovery will help it trace who they are. The suit, which claims the scammers posed as bank representatives on automated calls, is the latest sign of companies taking law enforcement matters into their own hands. Tech giants like Google (GOOGL), Amazon (AMZN), Microsoft (MSFT), and Meta (META) have similarly gone after bad actors. (CNBC)
🏃 Once a scrappy underdog, Anthropic is emerging as the presumptive front-runner in the artificial-intelligence race, with faster growth and fundraising than rival OpenAI. Recent investment offers would more than double Anthropic’s valuation to more than $900 billion, surpassing OpenAI’s valuation for the first time. In terms of overall users, OpenAI’s ChatGPT chatbot still maintains a sizable lead over Anthropic’s Claude. (The Wall Street Journal)
🪙 The latest version of a major cryptocurrency bill moving through the U.S. Senate is a “true compromise” between the crypto and banking industries, said Coinbase (COIN) CEO Brian Armstrong. Armstrong said the Clarity Act could reshape how Americans interact with money and financial markets. (Fox Business) |
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| From $17,500 Salary to Fashion Icon |
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| If you've ever been great at something and wondered why it’s still not enough, this one’s for you. In the latest episode of Richer Lives, stylist and designer Rachel Zoe tells Vivian Tu, AKA Your Rich BFF, why perfecting her craft wasn’t enough. |
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| Desperate home sellers are asking strangers for help getting offers. (MarketWatch) |
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| Intel, insights, and inspo for your money. |
| On the Money cuts through the noise of day‑to‑day financial news to bring you a more thoughtful point of view on what’s important in this moment — and how it impacts your bottom line. We value your trust above all. |
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| Did you find today’s newsletter valuable? |
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1Earn 5% cash back rewards on eligible grocery store purchases with the SoFi Smart Card. Cash back rewards are issued in the form of SoFi Member Rewards points. Members earn 5 points for every dollar spent on eligible grocery store purchases. SoFi, in its sole discretion, determines grocery store eligibility. Superstores like Walmart and Target, warehouse clubs like Costco and Sam’s Club, convenience stores, grocery delivery services, and meal-kit delivery services are not considered grocery stores. All terms and conditions applicable to the use of SoFi Member Rewards apply. To learn more about SoFi Member Rewards, please see the SoFi Member Rewards page. No rewards points will be earned with respect to reversed transactions, returned purchases, cash advances, or other similar transactions.
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