A Closer Look At Inflation

A Closer Look At Inflation:
The weaker-than-expected CPI number was bullish because it gave the Fed some room to cut rates, when appropriate.
If you dive deeper, CPI was 2.5% higher than last year, but significantly higher than where it was before Covid.
Someone on X (twtr) posted the following:

“While CPI inflation is at 3.3%, inflation is much higher in many basic necessities:
1. Car Insurance Inflation: 20.3%
2. Transportation Inflation: 10.5%
3. Hospital Services Inflation: 7.2%
4. Car Repair Inflation: 7.2%
5. Electricity Inflation: 5.9%
6. Homeowner Inflation: 5.7%
7. Rent Inflation: 5.3%
8. Food Away From Home Inflation: 4.0%

Inflation has been above 3% for 38 consecutive months now. Inflation data continues to build on multiple years of already inflated prices. Compounding inflation is destroying consumer confidence as over 50% of US adults believe we are in a recession.”

Here’s a chart: