US annual inflation declines to 7.1% in November vs. 7.3% expected
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Re: US annual inflation declines to 7.1% in November vs. 7.3% expected
#2"The Consumer Price Index for All Urban Consumers (CPI-U) rose 0.1 percent in November on a seasonally adjusted basis, after increasing 0.4 percent in October, the U.S. Bureau of Labor Statistics reported today. Over the last 12 months, the all items index increased 7.1 percent before seasonal adjustment."
I feel like the rise of only 0.1% October->November is more significant than the 7.1% YOY headline number, which is taking into account a lot of inflation that has already happened months ago. Of course, back in July we had a 0.0% MoM CPI increase that looked promising, but that didn't last long: https://www.bls.gov/news.release/cpi.nr0.htm
Re: US annual inflation declines to 7.1% in November vs. 7.3% expected
#3I suspect some of this is because the level of economic activity is dropping.
Re: US annual inflation declines to 7.1% in November vs. 7.3% expected
#4Remember that "declines" in this context just means that prices are going up slightly slower than they were before. It doesn't mean anything's getting any cheaper.
Re: US annual inflation declines to 7.1% in November vs. 7.3% expected
#5I suspect some of this is because the level of economic activity is dropping.
As expected. As interest rates rise more capital that would otherwise be allocated on businesses, real estate, stocks, etcetera is redirected into safer and now more attractive bets like bonds and interest rates tied instruments
Re: US annual inflation declines to 7.1% in November vs. 7.3% expected
#6the punishment will continue until you're hurting.
Re: US annual inflation declines to 7.1% in November vs. 7.3% expected
#7Remember that "declines" in this context just means that prices are going up slightly slower than they were before. It doesn't mean anything's getting any cheaper.
Yes, if things were actually getting cheaper that would be "deflation" and it would probably be bad.
Re: US annual inflation declines to 7.1% in November vs. 7.3% expected
#8Remember that "declines" in this context just means that prices are going up slightly slower than they were before. It doesn't mean anything's getting any cheaper.
Not exactly. It is year-over-year, so it is possible that prices are lower in November than October, but still higher than they were last November. In reality, prices rose by .1%. We will probably see negative month over month here soon, though YoY will still be positive.
Re: US annual inflation declines to 7.1% in November vs. 7.3% expected
#9Remember that "declines" in this context just means that prices are going up slightly slower than they were before. It doesn't mean anything's getting any cheaper.
> It doesn't mean anything's getting any cheaper.
This is true for the overall price level, but some things did get cheaper: energy (MoM) and used vehicles (MoM and YoY). Minor nit, granted.
Re: US annual inflation declines to 7.1% in November vs. 7.3% expected
#10I suspect some of this is because the level of economic activity is dropping.
This is it, the economy is grinding to a halt. Not good either.