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Average hourly earnings are now rising faster than prices. But two years of high inflation have left many low-income people in a financial hole.
Already, child care inflation is running nearly double the rate of overall inflation.
Services prices helped push up the producer price index in July. But that increase likely isn’t a lasting one.
And consumers of all income levels are adopting creative strategies to make their dollars stretch farther.
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 investor and college president calls the Fed’s stance backward-looking and worries that more rate hikes may lead to a recession.
As supply chains normalize and labor demand slackens, prices and wages are cooling off.
