Inflation: The real numbers
Posted: Tue Aug 20, 2024 1:19 pm
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.
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.