inflation is marching higher again creating challenges for households and businesses trying to manage their budgets while overall inflation has eased from 40-year highs seen Last Summer the latest Consumer Price Index shows Prices rose again in January and inflation is still up 6.4 percent since last year Christopher Marr the chairman and CEO of Ocean First Bank is concerned about the cost for shelter which is up nearly eight percent in the past 12 months the cost of housing continues to be a challenge and it's it's not just about interest rates that's certainly part of it but you're seeing rental costs still Rising so although the housing market has cooled down that has not turned into more affordable housing for folks especially in the Northeast and here in New Jersey the American dream all's Financial woes continue Bloomberg law reports two lenders who help fund construction of the mall have filed a 389 million dollar breach of contract lawsuit none of the parties would comment on the suit meantime earlier this month the mall missed another 8.8 million dollar debt payment due to insufficient funds according to a notice to bondholders from U.S Bank Trust debt payments have been missed before and in the past a reserve fund was used to pay them but in its notice to bondholders dated February 1st U.S Bank Trust said there's not enough money in the reserve fund to make the latest payment as the account has less than nine hundred dollars in it an update to a story we reported yesterday the Passaic Valley sewage commission has responded to the letter sent by lawmakers to Governor Murphy about a proposed natural gas power plant in Newark pbsc today emphasizing the facility will only be used for emergencies and that it is continuing to fully explore clean energy alternatives for the facility and has included stakeholder groups in the process we leave you now with a look at today's trading from Wall Street I'm Rhonda Schaffler and those are your top business stories [Music] [Music] thank you