Posted on Dec 12, 2023
Inflation continues to moderate thanks to a big drop in gas prices
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https://www.npr.org/2023/12/12/ [login to see] /economy-inflation-consumer-prices-interest-rates-federal-reserve-recession
Falling gasoline prices helped keep a lid on inflation last month.
Consumer prices rose 3.1% in November from a year ago, according to data from the Labor Department on Tuesday. Price hikes have moderated significantly after hitting a four-decade high last year.
A big reason for that is cooling gas prices, which dropped by 6% last month, helping to offset the rising cost of rent, medical care, and car insurance.
Overall prices rose just 0.1% between October and November. Grocery inflation also moderated, as food prices rose more slowly in November than the month before.
The inflation scorecard comes just as the Federal Reserve begins its last policy meeting of the year.
Falling gasoline prices helped keep a lid on inflation last month.
Consumer prices rose 3.1% in November from a year ago, according to data from the Labor Department on Tuesday. Price hikes have moderated significantly after hitting a four-decade high last year.
A big reason for that is cooling gas prices, which dropped by 6% last month, helping to offset the rising cost of rent, medical care, and car insurance.
Overall prices rose just 0.1% between October and November. Grocery inflation also moderated, as food prices rose more slowly in November than the month before.
The inflation scorecard comes just as the Federal Reserve begins its last policy meeting of the year.
Inflation continues to moderate thanks to a big drop in gas prices
Posted from npr.org
Economics
Oil
Oil and Energy
Posted 12 mo ago
Responses: 2
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Inflation isn't a US only problem - it's a global problem. Inflation in the US isn't being driven by any unique American policy either. The basis for today's inflation is complicated and a combination of the spike in raw material, energy and commody prices due to Russia invading Ukraine, lingering supply chain disruptions and distorted consumer demand patterns from the pandemic. The US doesn't even have the highest inflation rate in the world...
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Inflation is still sky high! It won't be long before you need a wheelbarrow full of money just to buy bread and milk.
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