• Investing
  • Stock
Round Table Thoughts
  • Economy
  • Editor’s Pick
Home Editor's Pick More signs of slowing inflation may arrive in latest consumer price data
Editor's Pick

More signs of slowing inflation may arrive in latest consumer price data

by December 13, 2023
by December 13, 2023 0 comment
Share
0
FacebookTwitterPinterestWhatsapp

Experts think the government’s last price report of the year will provide more evidence that inflation is slowing.

The Bureau of Labor Statistics is scheduled to release its consumer price index Tuesday morning. Economists say they expect the data will show that overall prices were unchanged in November compared to October.

That includes a 0.3% increase in core prices, a more stable category that excludes the cost of food and energy.

“Though this would represent an acceleration at the core relative to October, we see this as mainly coming from a reversal in the volatile lodging away from home category,” a team of economists from Bank of America wrote this month, referring to travel and hotel accommodations in its estimation.

Compared to November 2022, economists expect to see a 3.0% increase in the overall price index, and a 4% increase in the core categories.

That’s a bit slower than the inflation reflected in October’s prices, as last month CPI was up 3.2% over the previous year. And core prices were the same at 4%.

Inflation has been slowing down gradually in recent months after it spiked to a 40-year high of 9.1% in June 2022. While slower inflation means the prices of many goods are still going up, the slower rate makes it easier for consumers to adjust, and for increased wages to help counteract the financial pain that inflation causes.

There are some signs that consumers are feeling better about the state of the economy as inflation cools off, even though they’re feeling pressure from high credit card interest rates and high housing costs.

If inflation does hold steady or continue to fade, it’s more likely the Federal Reserve will keep interest rates where they are instead of raising them further. The Fed, which will make its last interest rate call of the year on Wednesday, sharply raised rates from early 2022 to mid-2023 to try to contain inflation.

That’s the reason interest rates on items like credit cards and mortgages has increased so quickly over the last year and a half. But as investors and experts think that the Fed might not raise rates again in the near future, their expectations for long-term rates have started to come down. And in turn, that’s brought mortgage rates down a bit recently.

According to the government-backed lender Freddie Mac, the rate on 30-year a fixed-rate mortgage is now about 7%, down from around 8% in early October.

This post appeared first on NBC NEWS
You Might Also Like
  • Why the LA Rams are worth $2 billion more than the LA Chargers
  • FBI warns against using public phone charging stations
  • Weekly mortgage refinance demand rose 5% after a slight dip in mortgage rates
  • Auto workers union announces tentative agreement to end strike with Stellantis
Share
0
FacebookTwitterPinterestWhatsapp

previous post
Housing market may be thawing as rates dip and listings inch higher
next post
Turkish lawmaker suffers heart attack after declaring Israel will ‘not be able to escape the wrath of God’

You may also like

Markets are clamoring for the Fed to start cutting soon:...

August 2, 2024

Armenian organized crime rings charged with stealing $83 million in...

May 22, 2025

Kraft Heinz recalls 83,800 cases of Singles American cheese slices

September 22, 2023

How the Inflation Reduction Act sparked a manufacturing and clean...

August 20, 2024

Tesla braces for its first trial involving Autopilot fatality

August 30, 2023

Chipotle to expand to Mexico amid Trump trade war with...

April 22, 2025

Aeris’ acquisition of Ericsson’s IoT unit is ambitious in scale...

December 16, 2022

Mortgage rates jump back over 7% as stronger economic data...

February 7, 2024

United Airlines reaches ‘industry-leading’ labor deal with flight attendants, union...

May 24, 2025

Fox could likely survive a nine-figure loss to Dominion, media...

April 18, 2023

    Stay updated with the latest news, exclusive offers, and special promotions. Sign up now and be the first to know! As a member, you'll receive curated content, insider tips, and invitations to exclusive events. Don't miss out on being part of something special.


    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Recent Posts

    • Week Ahead: NIFTY Stays In A Defined Range; Moving Past This Level Crucial For Resumption Of Upmove

      May 31, 2025
    • Breakouts, Momentum & Moving Averages: 10 Must-See Stock Charts Right Now

      May 31, 2025
    • Leadership Rotation Could Confirm Corrective Phase

      May 30, 2025
    • Run Your Stock Portfolio Like a Pro Sports Team

      May 30, 2025
    • U.S. foreign tax bill sends jitters across Wall Street

      May 30, 2025

    Popular Posts

    • 1

      Trump-era China sanctions ended by Biden may be...

      June 27, 2024 2,765 views
    • 2

      Walz’s honeymoon with China gets fresh scrutiny as...

      August 9, 2024 2,472 views
    • 3

      Biden appointee played key role in recruiting Chinese...

      June 25, 2024 2,451 views
    • 4

      Shein’s global ambitions leaves some cybersecurity experts fearful...

      July 10, 2024 2,432 views
    • 5

      Harris VP pick spent years promoting research facility...

      August 29, 2024 2,308 views

    Categories

    • Economy (7,009)
    • Editor's Pick (2,106)
    • Investing (538)
    • Stock (2,582)

    Popular Posts

    • 1

      Trump-era China sanctions ended by Biden may be revived under new House GOP bill

      June 27, 2024
    • 2

      Walz’s honeymoon with China gets fresh scrutiny as Harris camp blasts ‘lying’ critics

      August 9, 2024
    • 3

      Biden appointee played key role in recruiting Chinese businesses to Delaware: ‘Longtime friends’

      June 25, 2024
    • 4

      Shein’s global ambitions leaves some cybersecurity experts fearful of Chinese spy threats

      July 10, 2024
    • 5

      Harris VP pick spent years promoting research facility that collaborated with ‘Chinese military company’

      August 29, 2024

    Latest News

    • Week Ahead: NIFTY Stays In A Defined Range; Moving Past...

      May 31, 2025
    • Breakouts, Momentum & Moving Averages: 10 Must-See Stock Charts Right...

      May 31, 2025
    • Leadership Rotation Could Confirm Corrective Phase

      May 30, 2025

    Categories

    • Economy (7,009)
    • Editor's Pick (2,106)
    • Investing (538)
    • Stock (2,582)

    Disclaimer: RoundTableThoughts.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2024 RoundTableThoughts.com. All Rights Reserved.

    Round Table Thoughts
    • Investing
    • Stock
    Round Table Thoughts
    • Economy
    • Editor’s Pick

    Read alsox

    How Nvidia doubled earnings, lost almost...

    September 5, 2024

    Netflix hunts for a production partner...

    June 17, 2024

    Dow falls 600 points in worst...

    May 24, 2024
    Sign In

    Keep me signed in until I sign out

    Forgot your password?

    Password Recovery

    A new password will be emailed to you.

    Have received a new password? Login here