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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]
The inflation rate is most widely calculated by determining the movement or change in a price index, typically the consumer price index. [ 48 ] The inflation rate is the percentage change of a price index over time. The Retail Prices Index is also a measure of inflation that is commonly used in the United Kingdom.
The United States is recovering faster than its peers from the historic bout of inflation squeezing families and souring the mood of the nation, according to a new analysis from White House ...
Data published this week showed inflation falling, with June prices up only 2.9% from the prior year, the smallest increase since March 2021. At the same time, the stock market remains near record ...
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CBO forecasts a stronger economy over the 2018–2019 periods than do many outside economists, blunting some of the deficit impact of the tax cuts and spending increases. Real (inflation-adjusted) GDP, a key measure of economic growth, is expected to increase 3.3% in 2018 and 2.4% in 2019, versus 2.6% in 2017.
Demand-pull inflation occurs when aggregate demand in an economy is more than aggregate supply. It involves inflation rising as real gross domestic product rises and unemployment falls, as the economy moves along the Phillips curve. This is commonly described as "too much money chasing too few goods ". [1]
Economists had expected the data to show a 3.6% overall increase in inflation compared to a year ago. Annual inflation has now ticked up two months in a row after 12 consecutive months of decline.