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Annual inflation increased to 8.3% in August 2022, in part due to rising grocery prices. [154] In September, the Fed increased the interest for a fifth time in the year reaching a 14-year high. [155] In November 2022, the year-over-year inflation rate was 7.1%, the lowest it has been since December 2021 but still much higher than average. [156]
Even if you toss out volatile food and energy prices, so-called core inflation jumped 6% over the past year. That was also the sharpest such jump in four decades. Consumers felt the price squeeze ...
Consumers have endured the pain in everyday routines. Unleaded gasoline is up 61% in the past year. Men's suits, jackets and coats, 25%, Airline tickets, 34%. Eggs 33%. Breakfast sausage, 14%.
The cost of living for most basic goods and services has increased by 20% in the past three years. Yet, at 2.5%, inflation is down from 3.4% last year, which seems relatively low in comparison.
“Inflation is driven by an increase in money supply and the velocity of money, and also by expectations of further inflation,” said Zimmerman. “The very act of talking about inflation can ...
That might be why prices have risen 3.5 percent from a year ago, according to BLS’ calculations, a full percentage point above the overall inflation rate of 2.5 percent in PCE.
Inflation increased 7.0% year-over-year in December — the fastest pace since 1982. ... "So we should get a deceleration in inflation maybe starting in the second quarter and certainly in the ...
We have heard for many months now that inflation is running wild. According to the Bureau of Labor Statistics, the rate of inflation between May 2021 and May 2022 was 8.6%, the largest 12-month...