Consumers worry less and less about inflation, for good reason.
It wrecked family budgets and drove President Biden’s approval rating underwater. But inflation, which peaked two years ago at 9%, is finally running out of steam., the first month-to-month decline since 2020. There are still isolated hotspots, but inflation seems definitively headed toward the Federal Reserve’s 2% target.
The inflation that remains is entirely in services, where prices are still up 5% year over year. But that is mostly concentrated in housing, which counts as a service and is getting consistently better, and in the aberrant figures for car insurance. There’s normally some exception to the favorable inflation trends that keeps consumers grumpy, but there are fewer and fewer of them.
WASHINGTON — Inflation in the United States cooled in June for a third straight month, a sign that the worst price spike in four decades is steadily fading and may soon usher in interest rate cuts by the Federal Reserve.NAIROBI, Kenya — The ballooning debt in East Africa's economic hub of Kenya is expected to grow even more after deadly protests forced the rejection of a finance bill that President William Ruto said was needed to raise revenue. He now warns “it will have huge consequences.
Food Prices Inflation Data Inflation Battle Price Levels Price Hikes
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