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It’s been harder for lower- and middle-income households to afford higher food, rent and gas prices without getting into debt.
Wage growth is slowing, and those at the top of the earnings spectrum have done better than those at the lower end.
Fuel costs are down but may rise again soon.
To make the CPI’s health care component more accurate, the Bureau of Labor Statistics changed how it uses health insurance data.
Inflation at the pump is in the pipeline for August. It would likely show up right before the Fed’s September interest rate meeting.
As some CPI data lags, economists consider new rental data to better understand where housing costs are now.
Year-over-year inflation figures grab a lot of attention when the Labor Department reports its monthly consumer price index. But those 12-month figures can gloss over the recent slowdown in inflation.
The cost of car maintenance and repair is rising much faster than inflation.
The U.S. is finally seeing inflation cool down, but other countries, especially in Europe, are still seeing prices spike.
The June CPI numbers were pretty good, but more interest rate hikes are likely coming on the way to the central bank’s 2% target.