Posted on 11/13/2024 7:14:28 AM PST by ChicagoConservative27
Consumer prices rose 0.2 percent in October and 2.6 percent over the previous 12 months as inflation slowly but surely returns to pre-pandemic norms, according to new Labor Department data released Wednesday.
Economists surveyed by the Wall Street Journal had expected the consumer price index (CPI) to rise 0.2 percent last month and 2.4 percent over the past year. Core CPI, which excludes more volatile food and energy prices, rose 0.3 percent last month.
The shelter index accounted for more than half of then overall monthly increase, rising 0.4 percent in October, according to the Labor Department. Shelter prices were up 4.9 percent year-over-year.
Pandemic-era federal stimulus and the roaring economic rebound sent prices skyrocketing as suppliers struggled to meet demand, pushing the CPI to its peak of 9.1 percent in June 2022.
While the Federal Reserve is not ready to declare victory over inflation just yet, the central bank started cutting interest rates in September after hiking them to a two-decade high to try to bring down inflation
(Excerpt) Read more at thehill.com ...
when will equities take notice of the rise in the 10-year?
“What the heck went on with eggs in the last 2 weeks? $10 for a box of 60 (bad enough, should be less than $7) on Nov 1, $17 yesterday!”
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Bird flu is 100% fatal to chickens, and the culling of millions of chickens will raise the price for all chicken products. In fact, if your chicken has bird flu, the FDA will search for other chickens infected within a 6 mile radius. That’s a lot of chickens.
That’s right. I forgot about the latest major culling. Sucks. Thanks
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