The latest CPI numbers show cooler inflation continues on its run, and a rate cut in September seems pretty likely.
Although CPI came in below expectations at 2.9%, the high cost of basic necessities paints an entirely different picture. Despite the news, prices keep rising and Americans are struggling.
Car insurance inflation sits at a whopping 18.6% and rent inflation is over 5%. Transportation, healthcare, and utilities continue to rise in cost. In the logistics world, global container rates are over double what they were back in 2019, driving up the cost of shipping.
Inflation continues to hurt small businesses, with loan availability at its lowest level in 11 years. This trend looks a lot like what we saw in 2007 just before the financial crisis.
Sure, some might be celebrating the latest cooling inflation numbers, but there's nothing cool about it. Unless you're the Fed.
Inflation: The real numbers
Inflation: The real numbers
Dan Steffens
Energy Prospectus Group
Energy Prospectus Group
Re: Inflation: The real numbers
My wife bought a gallon of olive oil at SAM"S Sunday for $32.00USD. Couple of months ago it was $18.00USD
Must be the rapture of Biden/Kamalanomics. Old enough to remember the Carter years inflation and those prices never cooled down. My concern is where is the price of oil going, not olive?
Must be the rapture of Biden/Kamalanomics. Old enough to remember the Carter years inflation and those prices never cooled down. My concern is where is the price of oil going, not olive?