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One upbeat note for consumers: With the decline of the inflation rate to 4%, average hourly earnings, which are rising at a 4.3% annualized rate, now outpace inflation for the first time since ...
“The good news is that shelter costs slowed down to 0.2%, month-on-month, and 4.9%, year-over-year. However, it also showed that there are still plenty of upside risks for inflation going ...
A measure of housing costs also rose by just 0.2%, the mildest rise since April 2021. Fed officials have made clear that they expect inflation to fluctuate along a bumpy path even as it gradually ...
Falling gas prices helped bring overall inflation lower last month, dropping by 0.6% for the month and 10.3% annually. Grocery prices held flat for the month, and overall food inflation was up 0.1 ...
Meanwhile, the energy index decreased by 1.9% in September, after falling 0.8% in August as gas prices declined a sizable 4.1% last month. On a yearly basis, the energy index was down 6.8%.
The fresh inflation reading is the lowest since March 2021. ... Prices for some household staples are rising slower than overall inflation. Food prices increased 2.2% in July compared to a year ...
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] Inflation is believed to have played a major role in a decline in the approval rating of President Joe Biden, who took office in January 2021, being net negative starting in October of that year. [157]
The July consumer-price index shows an annual inflation rate of 2.9%, slightly below expectations and the smallest increase since March 2021. The slowing inflation rate may be a welcome change for ...