Price Increases

T. Rowe Price Group increased its quarterly dividend to 34 cents per share, up from 31 cents, the Baltimore money manager announced Thursday. This is the 26th straight year that Price has increased its annual dividend since the company went public in 1986. The quarterly dividend will be paid March 29 to shareholders of record as of March 15. Hanah.cho@baltsun.com Text BUSINESS to 70701 to get Baltimore Sun Business text alerts

U.S. home prices last month saw their largest jump in more than six years, but the gains in metro Baltimore were much smaller than the national average. Nationwide, home prices increased 8.3 percent in December compared with a year earlier. In Greater Baltimore, the increase was 1.8 percent, according to a report released Tuesday by real estate data firm CoreLogic. The national increase was the largest since May 2006, according to CoreLogic's figures, and December marked the tenth consecutive month of U.S. home price increases.

An Orioles spokesman confirmed yesterday that the club has raised season ticket prices for select seats at Camden Yards for 2008, the first such increase in several years. "Camden Yards remains affordable to everyone as a season-plan holder or on an individual basis," said Greg Bader, the Orioles' director of communications. "A select number of season tickets have increased one to three dollars for the first time in four seasons, as we remain committed to creating the premier ballpark experience to everyone who attends an Orioles game."

December was another positive month for home sales in metro Baltimore, though the market supply of homes continued to dwindle, dropping below 10,000 for the first time since February 2006. Last month, 1,945 home sales closed in Baltimore and its five surrounding counties, according to data released Monday by RealEstate Business Intelligence LLC, an affiliate of the region's multiple-listing service. That's a 3.6 percent drop from November, but a nearly 13 percent year-over-year increase.

The home Azam Khan sold on Fairbank Road in Northwest Baltimore last month strikes the real estate agent as a prime example of market shift. It changed hands for about $25,000 more than each of the similar Cape Cods that sold on the street last year - and it's smaller to boot. In a growing number of Baltimore-area neighborhoods, home prices have stopped their years-long march downward. Some areas have stabilized. Some actually are heading up. "The traditionally stronger neighborhoods are definitely on the rise," said Khan, who represented the seller of the three-bedroom, $312,000 home on Fairbank Road in Mount Washington.

MOSCOW -- Despite a worsening strike by coal miners that appears to be gaining broad political support, President Mikhail S. Gorbachev ordered sharp price increases yesterday in food and consumer goods to begin in two weeks.With a decree making official what aides already had outlined, Mr. Gorbachev took on the most explosive issue of Soviet economic reform -- ending once and for all the illusion that socialism means low, fixed prices for necessities."Without reform of pricing, there can be no kind of market," Prime Minister Valentin S. Pavlov, who helped design the plan, told television viewers last night.

MOSCOW -- Soviet consumers are bracing for sweeping price increases of no less than 60 percent under the Kremlin's latest plan to revive the critically troubled economy.The government of President Mikhail S. Gorbachev yesterday promised to provide compensation through wages and pensions for up to 85 percent of the higher prices, which are to affect everything but three Soviet necessities: medicine, fuel and vodka.The plan, which has been submitted to the national Parliament, is an alternative to the rapid scrapping of economic Communism considered and rejected last year by Gorbachev.

BASEBALL players talk about being "in the zone," that state of mind when everything seems to go right: Pitchers throw nothing but strikes; batters go on phenomenal hitting streaks.The nation's economy is on such a tear. Every economic report brings more positive news.More people are working, their incomes are steady and best of all, prices -- with the exception of the stock market -- barely increase.Yet skeptics keep reminding us that these prosperous conditions can't continue indefinitely.

The future cost of homeowner insurance hangs in the balance as the damage tally from Hurricane Katrina crystallizes, but industry experts remain optimistic that any widespread rate increases will be nominal. Coastal Maryland is distant enough from the most hurricane-prone places to avoid significant leaps in homeowner coverage that might smack other coastal areas. But Maryland residents who own property in Florida or Louisiana, or other high-risk areas, should watch for those premiums to jump as much as 10 percent or 15 percent, some experts warn.

The cost of an Oriole Park meal will rise this year, but families that order carefully should be able to skirt some of the higher prices.Beer, soft drinks, hot dogs and nachos -- ballpark cuisine at its finest -- are scheduled for increases, according to price lists released yesterday.Joe Foss, Orioles vice chairman for business operations, attributed some of the price increases to higher-quality foods being served this season.This year, concession stands and vendors will offer only all-beef hot dogs, and kosher will replace kosher-style franks, he said.

December was another positive month for home sales in metropolitan Baltimore, though the market supply of homes continued to dwindle, dropping below 10,000 for the first time since February 2006. Last month, 1,945 home sales closed in Baltimore and its five surrounding counties, according to data released by RealEstate Business Intelligence LLC, an affiliate of the region's multiple-listing service. That's a 3.6 percent drop from November, but nearly a 13 percent increase over December 2011.

Wooded land is plentiful around The Pointe at ArundelPreserve, a subdivision at one end of a massive mixed-use development off Arundel Mills Boulevard in Hanover. But as is happening throughout Maryland, finished home lots — barren plats that are ready for the erection of new homes — are becoming few and far between at the 268-acre planned community, which also contains a hotel, restaurants and offices. Builders were eager to lock up lots in this locale, according to the Pointe's developer.

The home Azam Khan sold on Fairbank Road in Northwest Baltimore last month strikes the real estate agent as a prime example of market shift. It changed hands for about $25,000 more than each of the similar Cape Cods that sold on the street last year - and it's smaller to boot. In a growing number of Baltimore-area neighborhoods, home prices have stopped their years-long march downward. Some areas have stabilized. Some actually are heading up. "The traditionally stronger neighborhoods are definitely on the rise," said Khan, who represented the seller of the three-bedroom, $312,000 home on Fairbank Road in Mount Washington.

The National Aquarium's eight dolphins are no longer a show unto themselves. After two decades of dramatic leaps and crowd-pleasing stunts, aquarium officials are eliminating the 20-minute dolphin shows in favor of a more open-ended exhibit. Beginning Friday, aquarium visitors will be able to visit the dolphin amphitheater throughout the day and interact with trainers. Instead of charging a separate admission price for the dolphin show, the aquarium is raising general admission ticket prices.

Spice maker McCormick & Co. plans to make more acquisitions, especially in emerging markets in Eastern Europe and Asia, where sales are expected to account for 13 percent of the firm's overall revenue this year, the company's chief executive officer and chairman said Wednesday. "We still have a pretty good pipeline," Alan D. Wilson said of potential opportunities. "Again, it's hard to time acquisitions, but we have a focus on continuing to grow. A third of our growth over the last five years comes from acquisitions.

T. Rowe Price Group increased its quarterly dividend to 34 cents per share, up from 31 cents, the Baltimore money manager announced Thursday. This is the 26th straight year that Price has increased its annual dividend since the company went public in 1986. The quarterly dividend will be paid March 29 to shareholders of record as of March 15. Hanah.cho@baltsun.com Text BUSINESS to 70701 to get Baltimore Sun Business text alerts

Weaker-than-expected demand for sheets of steel has sparked Bethlehem Steel Corp. to partially back away from its previously announced price increase.Company spokesman Henry Von Spreckelsen said Bethlehem has reduced price increases to 4 percent from 8 percent. The 8 percent increase, announced three weeks ago, was to affect the sheets of steel used by automakers, appliance manufacturers and machine shops.Industry experts said they expect other steel producers to also cut back pending price increases.

Preakness revelers, beware.It may cost you more this year to get into the infield.The Maryland Racing Commission approved a 20 percent increase in infield admission yesterday in response to a Maryland Jockey Club request to raise the price from $15 to $18.But the increase applies only to tickets purchased on race day. Infield tickets bought in advance will remain at $15 each.Pimlico Race Course general manager Jim Mango said infield prices had risen gradually from $10 to now $18 over the last four years.

If you type "college costs bubble" into an Internet search engine as I did recently, you'll find quite the list of news stories and opinion pieces focused on the fact that the costs of higher education have risen so quickly and reached such heights that they are obviously unsustainable. "Unsustainability" is a word we see more and more as the economy continues its weakness. Public worker pension costs are described that way, having been sustained thus far only by tapping the federal Treasury to bail out the many states that can't meet their pension liabilities.

Maryland patients will pay hundreds of dollars more for hospital stays under price hikes made final Wednesday by the state agency that sets rates for the medical institutions. The price for health care that hospitals pass on to insurers and patients will soar 4.4 percent this year — adding $596 million to the total tab — under several rate increases approved by the Maryland Health Services Cost Review Commission. As a result, the average inpatient hospital bill will rise $386, to $12,141.