U.S. inflation edges up, fueled by energy and housing prices, but many other costs rise only mildly
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The U.S. inflation rate edged up in December, fueled by higher energy and housing prices. Overall prices rose 0.3% from November and 3.4% from the previous year. Housing costs accounted for more than half of the increase, while energy costs and food prices also contributed. Excluding volatile food and energy costs, core prices rose just 0.3% month over month and were up 3.9% from a year earlier. Despite the slowdown in inflation, many Americans remain dissatisfied with the economy due to the lingering effects of high inflation. The Federal Reserve aims to reduce year-over-year inflation to its 2% target level. Consumer expectations for inflation have decreased, which is seen as a positive sign. However, there are concerns about the labor market, as fewer people are looking for work, potentially leading to higher wages and inflation. Economists suggest that reaching the Fed's 2% target could be more challenging than slowing inflation from 9% to around 3%.
#U.s.Inflation #EnergyPrices #HousingPrices #CorePrices #FederalReserve #Economy #ConsumerExpectations #LaborMarket
https://www.latimes.com/business/story/2024-01-11/us-inflation-edges-up-fueled-by-energy-and-housing-prices-but-many-other-costs-rise-only-mildly
Los Angeles Times /
npub1ka…ct50x
2024-01-11 15:51:35
Author Public Key
npub1kat3x50s05kl9v0lqxq5qsl0znf0eu2rwyeq4xyplj80ga740k9q9ct50xPublished at
2024-01-11 15:51:35Event JSON
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"content": "U.S. inflation edges up, fueled by energy and housing prices, but many other costs rise only mildly\n==========\n\nThe U.S. inflation rate edged up in December, fueled by higher energy and housing prices. Overall prices rose 0.3% from November and 3.4% from the previous year. Housing costs accounted for more than half of the increase, while energy costs and food prices also contributed. Excluding volatile food and energy costs, core prices rose just 0.3% month over month and were up 3.9% from a year earlier. Despite the slowdown in inflation, many Americans remain dissatisfied with the economy due to the lingering effects of high inflation. The Federal Reserve aims to reduce year-over-year inflation to its 2% target level. Consumer expectations for inflation have decreased, which is seen as a positive sign. However, there are concerns about the labor market, as fewer people are looking for work, potentially leading to higher wages and inflation. Economists suggest that reaching the Fed's 2% target could be more challenging than slowing inflation from 9% to around 3%.\n\n#U.s.Inflation #EnergyPrices #HousingPrices #CorePrices #FederalReserve #Economy #ConsumerExpectations #LaborMarket \n\nhttps://www.latimes.com/business/story/2024-01-11/us-inflation-edges-up-fueled-by-energy-and-housing-prices-but-many-other-costs-rise-only-mildly",
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