July inflation largely aligned with economist expectations, with the Consumer Price Index (CPI) rising 0.2% month-over-month and 2.9% year-over-year. The...
July inflation largely aligned with economist expectations, with the Consumer Price Index rising 0.2% month-over-month and 2.9% year-over-year. The annual rate was below forecasts of 3.0%. But when accounting for core CPI, which excludes food and energy costs, July figures came in line with estimates for 0.2% monthly and 3.2% annually.We're taking a deeper dive into three sectors that have been sticky uh and hit by that stickier inflation, shelter, food and transportation.
And that is owner equivalent rent o that's the hypothetical rent that you would earn if you rented out your property and rent, which lacks real time data because the government collects rent data every six months.Now o came in at a 0.4% gain last month while rents came in at 8.5% gain uh last month.Now, the reason why renters have been seeing slower rent growth is because there's been so much supply that has been added to the market.
And even next year, they're expecting that shelter inflation will land at four 0.8% on a yearly basis this year.So we're still seeing inflation here. And of course, this comes at a time, we've seen food chains, fast food companies, restaurants like mcdonald's and Starbucks and KFC and Burger King, among many others really double down on value and promotions this summer after consumers essentially voted with their feet and they visited less frequently because of this uptick in prices and the broader transportation sector.
Argentines, feeling the pinch of the world's highest annual inflation rates, are feeling both hopeful and weary as monthly price rises dip down towards 4%, the lowest in over two years amid tough austerity under President Javier Milei. The South American country, where yearly inflation stands at 271%, is trying to emerge from a severe economic crisis, which ushered libertarian outsider Milei into power late last year as voters opted for a radical new approach to restore stability.
NEW YORK — Kate McKinnon, Malcolm Gladwell and Eva Mendes will be among the featured speakers this fall at the 92nd Street Y i n Manhattan, a leading venue for arts events.While the Democratic Party leadership is putting on a united public front, Joe Biden’s simmering resentment over the quiet coup that ended his re-election dreams may be bubbling to the surface.
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