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Consumer prices up 0.2 percent in October, 2.6 percent over past year
The Hill ^ | 11/13/2024 | Taylor Giorno

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 ...


TOPICS: Business/Economy; Culture/Society; Government; News/Current Events
KEYWORDS: consumer; economy; october; prices
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To: donozark

when will equities take notice of the rise in the 10-year?


21 posted on 11/13/2024 9:19:14 AM PST by millenial4freedom (Government was supposed to preserve freedom, not serve as a jobs program for delinquents and misfits)
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To: mikey_hates_everything

“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!”
___________________________________________________________

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.


22 posted on 11/13/2024 9:33:03 AM PST by Bob Wills is still the king (Just a Texas Playboy at heart!)
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To: Bob Wills is still the king

That’s right. I forgot about the latest major culling. Sucks. Thanks


23 posted on 11/13/2024 10:08:44 AM PST by mikey_hates_everything
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