Inflation Cools off in the US
Bilaal Dhalech | Dec 13, 2023 13:26
This months US inflation came in at 3.1%. Last month was 3.2%. Peak inflation was 9.1%. The lowest reading we got this year was 3.0% in July.
Here’s the changes year over year
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ransportation: +10.1%
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Rent: +6.9%
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Restaurants: +5.3%
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Electricity: +3.4%
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Alcohol: +2.9%
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Groceries: +1.7%
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New Cars: +1.3%
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Clothes: +1.1%
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Medical Care: -0.9%
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Used Cars: -3.8%
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Gasoline: -8.9%
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Gas Utilities: -10.4%
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Airlines Fares: -12.1%
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Fuel Oil: -24.8%
The year-over-year deceleration was largely a result of lower prices for gas, cars & FOOD! This is good to see since food prices kept rising.
Rent & transportation are the only major components that have higher inflation.
Now its only a matter of time before the Feds cut rates, it will still take time since the fight from 3% to 2% is a hard one just like losing that last bit of belly fat. Its going to be annoying!
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