The overall cost of living remains subdued, with the Consumer Price Index rising 1.4% in January. Over the past six months, the headline inflation rate has remained muted and stands below the Federal Reserve’s 2% implicit target necessary for increased demand and sustainable growth. … READ MORE >
food
CHART OF THE DAY: Consumer prices surged in July, glossing over looming food insecurity
Despite strong July upticks in consumer prices overall, our chart of the day shows a 0.4% month-over-month decline in consumer food prices, likely the result of households preparing for a loss of income due to the congressional impasse over the extension of expanded unemployment insurance benefits. If policymakers fail to reach an agreement by Sept. 1, food insecurity will likely become an unfortunate front page topic after the Labor Day holiday. … READ MORE >