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As of October 2022, inflation is at 7.7% compared to a year prior, with food, airline fares, public transportation, health insurance and gasoline seeing some of the largest price increases. But ...
But prices spiked in the pandemic, and the annual inflation rate reached a 40-year high of 9.1% in mid-2022. The Fed stepped in, raising interest rates dramatically in 2022 and 2023 to cool the ...
A key driver of last month's inflation bump was the housing market, with shelter prices rising 0.4% in October, contributing about half of the monthly increase, the Bureau of Labor Statistics said ...
Inflation has eased considerably since peaking at 9.1% in June 2022 and has steadily cooled. Still, October’s increase was to be expected, due to unfavorable comparisons from a year ago and ...
The final legislation resulted instead in a one-month gas tax holiday for October 2022. [8] Other states, including New York, Georgia, Connecticut and Maryland, have suspended state gasoline taxes in 2022. [9] In June 2022, President Joe Biden revived the idea of a federal gas tax holiday during a surge in inflation, including rising gasoline ...
Inflation rose slightly in October in line with economists' expectations, as the consumer price index was up 2.6% from a year ago and 0.2% compared with last month.
On January 5, 2023, the Philippines rapidly increased to a record-breaking 8.1% inflation from December 2022. [227] [228] In October 2022, the Japanese yen touched a 32-year low against the U.S. dollar, mainly because of the strength of the latter. [229] [230] In November, the Japanese core inflation rate reached a 41-year high of 3.7%. [231]
October's Consumer Price Index (CPI), which measures changes in the cost of consumer goods and services, showed that annual inflation rose by 2.6%. That's not an alarmingly high rate of inflation.