The problem of sticky inflation resides with housing, Fed's Goolsbee says

May 15, 2024
Chicago Fed President Austan Goolsbee talks the latest CPI release and what it means for the Fed's continued fight against inflation.
Austan Goolsbee, the president and CEO of the Federal Reserve Bank of Chicago.
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Even as hourly wages outpace inflation, rising prices take a bite

Mar 12, 2024
It’s been harder for lower- and middle-income households to afford higher food, rent and gas prices without getting into debt.
“We see higher wage growth since the recovery. But if people are working less, their total earnings are still less than inflation,” said ADP's Liv Wang.
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Inflation ticked up to 3.4% in December. How are wages doing?

Jan 11, 2024
Wage growth is slowing, and those at the top of the earnings spectrum have done better than those at the lower end.
“When wage growth was very hot, the job switchers could go get another job and get a pretty good increase," said Frank Fiorille at Paychex. "We’ve really seen that come off the boil.”
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Airfares are down 13% over the past year, but they may be headed back up soon

Nov 14, 2023
Fuel costs are down but may rise again soon.
Travel demand has leveled out since last summer's spike of "revenge travel." That’s forcing airlines to compete more for customers again.
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How are health insurance costs reflected in inflation calculations?

Nov 13, 2023
To make the CPI’s health care component more accurate, the Bureau of Labor Statistics changed how it uses health insurance data.
Rather than tracking health insurance premiums, the BLS tracks how much health insurance companies retain of the premiums they receive after paying for services.
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Uptick in gas prices could threaten consumers' confidence

Aug 10, 2023
Inflation at the pump is in the pipeline for August. It would likely show up right before the Fed’s September interest rate meeting.
The recent uptick in gas prices can largely be attributed to intense heat in oil refining areas.
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Is shelter inflation data the most timely measure of housing costs?

Aug 10, 2023
As some CPI data lags, economists consider new rental data to better understand where housing costs are now.
While shelter inflation is still at 7.7% year-on-year, economists are incorporating new, more timely data into their forecasts that shows a cooling of housing prices.
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Why year-over-year inflation changes aren’t a great indicator of today’s inflation

Aug 9, 2023
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.
While year-over-year inflation can be helpful to filter out temporary changes that happen month-to-month, it can gloss over the recent slowdown in inflation.
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Why have car repairs gotten so expensive?

Aug 7, 2023
The cost of car maintenance and repair is rising much faster than inflation.
Aside from the rising price of spare parts, repair costs have gotten more expensive because newer cars are more complicated to fix. 
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Inflation remains high in most of world as it cools in the U.S.

Jul 17, 2023
The U.S. is finally seeing inflation cool down, but other countries, especially in Europe, are still seeing prices spike.
Inflation in the U.S. is back down to 3%.
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