The Market: January 13, 2012

The Market: January 13, 2012

Ah, a fresh new year. Full of excitement, promise and … a higher cost of living, stock market trepidation and risk of nuclear proliferation?

OK, the news isn’t all bad. The Spanish and the Italian economies show signs that they might be on the mend and the European Central Bank has promised continued support for banks in the euro zone, which gives us hope for the global economy.

But there's also been some more sobering news lately: The founder of the Hang Seng index, the widely used gauge for the Hong Kong Stock Exchange, just recently died at age 86. Grocery prices have been rising, which hits many penny-pinching Americans trying to get by in this economy. And tensions with Iran keep escalating in often scary ways.

Finally, in one of the more interesting news tidbits of the week, in an effort to make a point about the taxation system in America, Warren Buffett announced he would match the contributions of Senate Republicans toward the national debt, dollar for dollar.

Here’s what you need to know in The Market this week:

Grocery Bills Are on the Rise

This particularly hits staples like eggs, milk, and—literally—meat and potatoes. But restaurant prices haven’t  gone up. Why, and what does that mean for the future?

Could Iran Tensions Lead to a Worldwide Oil Crisis?

Here’s what’s been going on so far between Iran and the U.S., and how it could affect you personally.

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