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Monday's business headlines – WISH TV Indianapolis, IN

by Arifa Rana

INDIANAPOLIS (WISH) — Here’s a look at Monday’s business headlines with Jane King.
High gas prices are changing driving habits among Americans.
A Yahoo-Maru public opinion survey found 66% of vehicle owners say they have made or will make significant changes to their driving patterns if the national average cost of gasoline sits between $4.12-4.35 per gallon.
AAA says the current average in Indianapolis is $4.17 per gallon.
A summer surge in wheat prices is looming at grocery stores and restaurants as the bread industry warns of a “perfect storm” that could spark sticker shock at checkout.
The Russian invasion has disrupted production of wheat, oats and cooking oils in Ukraine, a nation considered the “breadbasket of the world.”
Ukraine and Russia produce 25% of the global wheat supply.
Pizza chain Papa Johns’ addressed customer inflation concerns during its first-quarter earnings call, noting that it offers an affordable family meal at a time when budgets are being stretched thin.
Papa John’s CEO Rob Lynch said you can feed a family of four a pizza and it costs under $7 per person.
Analysts have chimed in on this topic, saying that pizza is the most budget-friendly way for a family to dine out.
Indianapolis-based Simon Property Group will reports its earnings Monday.
In addition to an update on it’s business, it will also be a read on retail overall and a good way to see if inflation is having an impact on shoppers.
Simon says it has seen more spaces being occupied by stores and rents are up as well.
Gardening’s rise in popularity started during the pandemic and has continued as people look at growing their own food due to high prices at the grocery store.
Farming cooperatives say the growth is mainly among older people; younger people haven’t yet taken up gardening in big numbers.
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