Moody’s chief economist Mark Zandi analyzed July’s CPI in a series of tweets, noting that inflation is forcing Americans to spend $709 more monthly on everyday goods and services than t…
, energy unexpectedly rose a mere 0.1%, the latest CPI report showed.
Consumers, however, have continued to feel reprieve from the central bank’s aggressive tightening regime, with core CPI — which excludes volatile food and energy prices — only rising 0.2% from a month ago, matching the 0.2% increase in June. Rising housing costs were by far the largest contributor to July’s uptick in prices, the CPI report showed, accounting for 90% of the advance.When The Post reached out to Moody’s for comment, the financial services firm pointed to commentary from another economist at the company, Bernard Yaros, who said that “the US consumer price index was fully in line with our and consensus expectations in July.
Meanwhile, Raymond James’ Chief Economist Eugenio Aleman believes stubbornly-high shelter costs “are slated to put pressure on headline inflation going forward.”
Australia Latest News, Australia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Inflation forcing Americans to spend $709 more per month than 2 years ago: economistAmericans spent $709 more on everyday goods in July than they did at that point in 2021, according to a new analysis from Moody's Analytics.
Read more »
Inflation down, but Inflation Reduction Act doesn’t deserve creditEven President Joe Biden has some regrets about the name of the Inflation Reduction Act: As the giant law turns 1 on Wednesday, it's increasingly clear that immediately curbing prices wasn't the point.
Read more »
Inflation is down, but the Inflation Reduction Act doesn't deserve creditWhile price increases have cooled over the past year — the inflation rate has dropped from 9% to 3.2% — most economists say little to none of the drop came from the law.
Read more »
House Conservatives Object to $24 Billion Ukraine Aid Request: Americans 'Tired' of Endless WarsHouse conservatives objected to President Joe Biden’s latest Ukraine aid proposal, contending that it would only continue America’s proxy war against Russia.
Read more »
Americans are pulling money out of their 401(k) plans at an alarming rate | CNN BusinessMore Americans are tapping their 401(k) accounts because of financial distress, according to Bank of America data released Tuesday.
Read more »
Economists expect rise in inflation as price-growth fight enters new phaseAlthough lower gasoline prices have driven the decline in inflation over the last year, rising prices may start to add to inflationary pressures.
Read more »