CPI increased by 0.4% for the September 2022 and the October data will be released on at 8:30am Eastern time 10th November 2022. The food index made headlines after jumping 0.8% which was similar to the month of August and was up by 11.2% from last year. Inflation is continuing to rise despite the efforts of the Fed to keep to keep prices under control. 9,000 increase in the jobless claims from last year indicated that the layoffs are still low.
Consumer price index September 2022: (cnbc.com)
This article went in so much depth about the economy it kind of blew my mind! If we are not in a recession yet then I'm surprised. About every single statistic given was negative. Consumer prices are increasing, housing prices are still through the roof, even eggs are 30% higher than a year ago. The economy is quite out of balance.
ReplyDeleteIt is interesting that the food index had a substantial increase last month. This article does a great job of highlighting an impact of inflation that relates to all. Furthermore, I feel these types of consequences will be most instrumental in pushing policymakers to be smart in combating inflation. People need food, and it is important that this part of the CPI does not get out of control.
ReplyDeleteIt surprised me at first that the food index made the headlines but after reading the article, it made sense as the increase in the food index helped offset the decline in energy prices. Do you think the Fed is handling the rise in inflation in the right way?
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