A sign that the painful inflation of the past 18 months may be gradually easing could come Tuesday.
A sign that the painful inflation of the past 18 months may be gradually easing could come Tuesday, when the government is expected to report that the acceleration in U.S. prices slowed in August compared with a year ago for a second straight month.
Inflation has escalated families' grocery bills, rents and utility costs, among many other expenses, inflicting hardships on households and deepening gloom about the economy despite strong job growth and historically low unemployment. Many mainstream economistsgenerally agree, though they also blame snarled supply chains, Russia's invasion of Ukraine and widespread shortages of items such as semiconductors for fueling inflation. In recent months, though, supply chain backups have eased considerably, and so have chip shortages. Oil prices have dropped to about $88 a barrel, down from a peak of $123 in March.
Grocery prices have been a particular sore spot for many families. Over the past year, prices of of meat, milk and fruits and vegetables have soared by double-digits. But executives at Kroger, the nation's largest grocery chain, said that falling prices for farm commodities like wheat and corn could slow cost increases for food this year.
The Fed's rapid rate increases - the fastest since the early 1980s - typically lead to higher costs for mortgages, auto loans and business loans, with the goal of slowing growth and reducing inflation. The average 30-year mortgage rate jumped to nearly 5.9% last week, according to mortgage buyer Freddie Mac, the highest figure in nearly 14 years.
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Cheaper gas likely slowed high US inflation for a 2nd monthA sign that the painful inflation of the past 18 months may be gradually easing could come Tuesday, when the government is expected to report that the acceleration in U.S. prices slowed in August compared with a year ago for a second straight month
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Cheaper gas likely slowed high US inflation for a 2nd monthA sign that the painful inflation of the past 18 months may be gradually easing could come Tuesday, when the government is expected to report that the acceleration in U.S. prices slowed in August compared with a year ago for a second straight month.
Weiterlesen »
Cheaper gas likely slowed high US inflation for a 2nd monthA sign that the painful inflation of the past 18 months may be gradually easing could come Tuesday.
Weiterlesen »
Cheaper gas likely slowed high US inflation for a 2nd monthA sign that the painful inflation of the past 18 months may be gradually easing could come Tuesday.
Weiterlesen »
High-stakes inflation report expected to show prices slowed in August but remain elevatedThe August inflation data out Tuesday morning is expected to show that consumer prices slowed in August, but that likely won't be enough to mollify the Federal Reserve.
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Falling Gas Prices Are Raising Hopes That Inflation Is Slowing, New York Fed Survey ShowsRespondents to the New York Fed survey indicated they expect the annual inflation rate to be 5.7% a year from now.
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