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Sisters-based Laird Superfood, Inc. announced Wednesday it has entered into a co-packer agreement to outsource the manufacturing of its powdered creamers and hydration products, meaning it will be closing its Sisters manufacturing operations by the end of the year. he company received a takeover offer of $3 a share in August from investment bank EF Hutton, a week after announcing a first-half net loss of $19 million. The company’s valuation has plummeted 95% from its original $185mm valuation.  The share price dropped from $57 per share last December to $1.70 at the end of trade Wednesday.

Prices consumers pay for a wide variety of goods and services rose more than expected in September as inflation pressures continued to weigh on the U.S. economy. The consumer price index for the month increased 0.4% for the month, more than estimates, according to the Bureau of Labor Statistics. On a 12-month basis, so-called headline inflation was up 8.2%, off its peak around 9% in June but still hovering near the highest levels since the early 1980s.

Amid record high inflation, Social Security beneficiaries will get an 8.7% increase to their benefits in 2023, the highest increase in 40 years. The Social Security Administration announced the change on Thursday. It will result in a benefit increase of more than $140 more per month on average starting in January.

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