The Trader Harbor
  • Business
  • Politics
  • World News
  • Stocks
  • Business
  • Politics
  • World News
  • Stocks

The Trader Harbor

World News

Silver lining for consumers: Food price growth has gone flat and other prices are falling

by admin May 15, 2024
May 15, 2024
Silver lining for consumers: Food price growth has gone flat and other prices are falling

Price growth in many key consumer categories has slowed considerably or ceased altogether — but that has done little to dent consumer worries as the costs of housing and other services have continued to climb.

Among the broadest categories tracked by the consumer price index, or CPI, two of the ones most acutely felt by consumers — food and energy prices — hit 2.2% and 2.1% on a 12-month basis in March, respectively.

That’s essentially in line with the Federal Reserve’s 2% goal.

Within those categories, food at home — essentially, groceries — climbed just 1.2%, while gasoline prices climbed 1.3%.

‘Food is a notable bright spot,’ said Neil Dutta, head of economic research at Renaissance Macro Research.

In spite of the positive trends, progress in reducing overall CPI has stalled. Economists generally agree it’s mostly because the cost of rent has remained elevated, but there remains disagreement about how soon slowing rent growth will start to appear in the CPI.

Even as the Fed and other economists have preached patience, the upshot has been a CPI that has remained stuck between 3% and 4%, above the Fed’s 2% target, for more than a year.

On Wednesday, the Bureau of Labor Statistics will release CPI data for April, with 12-month expectations for a reading virtually unchanged from March’s 3.5%. Once again, rent growth is expected to keep the CPI elevated.

This post appeared first on NBC NEWS

0
FacebookTwitterGoogle +Pinterest
previous post
Fed Chair Jerome Powell says inflation has been higher than thought and expects rates to hold steady
next post
Comcast to bundle Peacock, Netflix and Apple TV+ at a ‘vastly reduced price’

Related Posts

Nvidia results spark global chip rally

May 30, 2025

Procter & Gamble to cut 7,000 jobs as...

June 8, 2025

Dow tumbles 475 points, S&P 500 suffers worst...

April 19, 2024

Argentine President Milei faces impeachment calls for promoting...

February 20, 2025

Malls are using new restaurants to draw consumers...

December 20, 2024

Fed’s key inflation measure cooled slightly from a...

July 27, 2024

Trump implies government could cut contracts and subsidies...

June 8, 2025

Joann to shutter all 800 fabric stores after...

February 26, 2025

Netflix maintained its 2025 guidance. That may not...

April 21, 2025

Paramount ends DEI policies, cites Trump executive order

February 28, 2025

    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.

    Latest

    • S&P 500 Earnings for 2025 Q1 — Still Overvalued

      July 6, 2025
    • Xi Jinping’s surprise no-show at BRICS Summit fuels speculation about China’s global standing

      July 6, 2025
    • Democrats project doom and gloom, not celebration, with July 4 messages

      July 6, 2025
    • Iran still wants a nuclear weapon despite ‘serious damage’ from US, Israeli strikes: expert warns

      July 6, 2025
    • S&P 500 Earnings for 2025 Q1 — Still Overvalued

      July 5, 2025
    • Week Ahead: NIFTY Set To Stay In A Defined Range Unless These Levels Are Taken Out; Drags Support Higher

      July 5, 2025

    Categories

    • Business (1,283)
    • Politics (3,917)
    • Stocks (1,496)
    • Uncategorized (45)
    • World News (1,276)
    • About us
    • Contact us
    • Privacy Policy
    • Terms & Conditions

    Disclaimer: TheTraderHarbor, 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 © 2025 thetraderharbor.com | All Rights Reserved