Economy May Be Cooling , as Inflation Slows in November.
NBC reports that November saw
consumer price growth cool, indicating
the economy may be slowing down.
November data may also be a sign that
the Federal Reserve's aggressive rate-hikes
to fight inflation are beginning to pay off.
In November, inflation hit 7.1%,
down from 7.7% in October and below
the 7.3% projected by analysts. .
According to the U.S. Bureau of Labor
Statistics, it is the smallest 12-month
increase since December of 2021.
NBC reports that the December 13 data also
shows the first sustained decrease in gas prices,
with the national average dropping to $3.24. .
NBC reports that the December 13 data also
shows the first sustained decrease in gas prices,
with the national average dropping to $3.24. .
Slowing demand and increasing supply have also
contributed to the cost of durable goods like
clothing, electronics and appliances also falling.
Slowing demand and increasing supply have also
contributed to the cost of durable goods like
clothing, electronics and appliances also falling.
Last week, another measure of inflation also showed
slowing price growth, with notable price drops in
airline tickets, car parts and hotel accommodations.
Last week, another measure of inflation also showed
slowing price growth, with notable price drops in
airline tickets, car parts and hotel accommodations.
Last week, another measure of inflation also showed
slowing price growth, with notable price drops in
airline tickets, car parts and hotel accommodations.
According to Kelly Blue Book, the price of used cars
also continued to fall in November, while new car
prices surged amid stronger luxury sales.
NBC reports that car prices are the second-largest
"core" measure of inflation, with the largest
component being the cost of rent.
NBC reports that car prices are the second-largest
"core" measure of inflation, with the largest
component being the cost of rent.
According to Apartment List,
the national median rent fell by 1%
month-over-month in November