A correction in the housing market as mortgage rates reach 20-year highs is underway. While overall price growth has cooled, though, the housing components inside the two inflation reports—the Consumer Price Index and the Personal Consumption Expenditures price index—have shown no signs of ... READ MORE >
Search Results for: inflation
U.S. October CPI: Inflation still high, but relief on the horizon
Inflation in the U.S. economy is approaching an inflection point where the central bank can begin considering a pause in its efforts to restore price stability and households can begin seeing possible relief from a deterioration in real income. The October consumer price index, which rose by 0.4% ... READ MORE >
Inflation persists as spending rebounds strongly in September
Government data released Friday indicates that the Federal Reserve will need to keep its foot on the gas pedal: while inflation data came out slightly better than expected, the key wage inflation metric—the employment cost index—remained elevated, according to the Labor Department. On top of that, ... READ MORE >
Consumer confidence falls in October amid inflation concern
Consumer confidence fell below expectations in October as inflation concern persists. The Conference Board's consumer confidence index was down to 102.5 from 107.8 from a month earlier. Consumers' expectations for the median inflation over the next 12 months rose to 6.2% from 6.0%, the highest in three ... READ MORE >
Canada’s inflation refuses to cool
September’s consumer price index for Canada put out any hope that inflation will get back under control anytime soon and only added pressure on the Bank of Canada to maintain its aggressive interest rate hikes. Canada’s CPI rose by 6.9% on a year-over-year basis, slightly down from 7% in August, ... READ MORE >
Consumer sentiment rises despite worsening inflation expectations
U.S. consumer sentiment rose for the fifth straight month to 59.8 in October but a worsening inflation outlook clouded the otherwise positive news, the University of Michigan reported on Friday. Solid income growth in a tight labor market is keeping household financial conditions strong as sentiment ... READ MORE >
Retail sales stay flat as inflation remains elevated
American consumer spending was unchanged in September, held back mainly by auto and gasoline sales as prices at the pump and auto dealers fell on the month, the Commerce Department reported on Friday. The data was not adjusted for inflation. With inflation controlled for, sales volume was also flat ... READ MORE >
Inflation remains hot, sticky and elevated, implying another supersized rate hike
Both top-line and core inflation remain hot, sticky and elevated, which implies that the path of monetary policy demands another supersized rate increase of 75 basis points at the Federal Reserve’s November meeting. The September Consumer Price Index increased by 0.4% on the month and was up by 8.2% on ... READ MORE >
Food manufacturing job numbers could signal slowing food inflation
Last Friday’s jobs report brought good news for the food manufacturing industry and a potential signal that surging food costs may begin to temper. The food manufacturing industry added 8,300 non-supervisory and production jobs in September representing a monthly increase of 0.6% and an increase of ... READ MORE >
Spending grows, even with higher-than-expected inflation
Despite a sharp drop in energy prices, August's personal consumption expenditures price index—the Federal Reserve's key gauge for inflation—rose by 0.3% after falling by 0.1% in July. The price increases ate into spending, bringing spending growth from a 0.4% increase in dollar terms to only a 0.1% ... READ MORE >