Posted on 12/13/2022 6:49:30 AM PST by ChicagoConservative27
A November slowdown in inflation could give consumers relief both from rising prices and rapidly rising interest rates.
Consumer price index (CPI) data released Tuesday by the Labor Department still showed inflation near 40-year highs. But a slower pace of price growth may help Americans catch a break from more than a year of rapid inflation, all while giving the Federal Reserve room to hike interest rates at a slower pace.
“Cooling inflation will boost the markets and take pressure off the Fed for raising rates, but most importantly this spells real relief starting for Americans whose finances have been punished by higher prices,” said Robert Frick, corporate economist for Navy Federal Credit Union, in a Tuesday analysis.
“This is especially true for lower-income Americans who are disproportionately hurt by inflation,” Frick said.
The annual inflation rate fell to 7.1 percent in November, down from 7.7 percent in October and in line with economist estimates of a 7.3 percent annual inflation rate. Prices rose just 0.1 percent in November alone, down from a 0.4 percent monthly inflation rate in October.
(Excerpt) Read more at thehill.com ...
I’m not feeling it yet...Inflation owes me a blowjob.
Someone posts this in every thread about inflation, and it is not true. BLS releases two inflation numbers each month. The lead number that everyone talks about includes food and energy. This is from the BLS press release:
"In November, the Consumer Price Index for All Urban Consumers increased 0.1 percent, seasonally adjusted, and rose 7.1 percent over the last 12 months, not seasonally adjusted."
Then it states the inflation rate without the volatile energy and food:
"The index for all items less food and energy increased 0.2 percent in November (SA); up 6.0 percent over the year (NSA)."
The 7.1 that the original article references is the first inflation rate, which includes food and energy.
The BLS lies.
Fuel is up a lot more than 7% and food is up at least 50%.
Gas here is $2.49 now. It was $4.50 not long ago ,
It should help .
And no Biden didn’t do it.
The economy is slowing .
Diesel hasn’t gone down near as much
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