American Invest Hub
  • Politics
  • Investing
  • Business
  • Latest News

American Invest Hub

  • Politics
  • Investing
  • Business
  • Latest News
Business

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

by admin May 16, 2024
May 16, 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
Amazon Web Services CEO Adam Selipsky to step down

Related Posts

Trump Media stock erases all gains since it...

April 10, 2024

Asian markets open: Nikkei down; Bank of Korea...

July 10, 2025

Boohoo and THG Group shares have imploded: buy...

September 25, 2024

LongHorn up, Olive Garden down: Darden earnings hint...

June 24, 2024

Klarna stock jumped after IPO, but history points...

September 11, 2025

Two US tech stocks on the verge of...

March 29, 2025

VYM, DGRO, and SCHD ETF braces for three...

January 14, 2025

More than $1 billion in federal tax refunds...

April 3, 2024

BuzzFeed stock analysis: falling website traffic is a...

October 27, 2024

Retail investors shift focus to Europe as US...

August 3, 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 News

    • Why India’s gold demand is expected to dip this festive season

      September 15, 2025
    • Oil jumps 2% as OPEC agree to smaller output hike for October, sanction threats looms

      September 8, 2025
    • Weekly recap: tech titans woo Trump, Xi’s political theatre, Starmer’s reshuffle

      September 7, 2025
    • Trump reaffirms backing for Robert Kennedy amid vaccine policy turmoil

      September 7, 2025
    • South Korean president promises aid to citizens held in US immigration raid

      September 7, 2025

    Categories

    • Business (3,954)
    • Investing (2,864)
    • Latest News (2,059)
    • Politics (1,530)
    • About us
    • Contact us
    • Privacy Policy
    • Terms & Conditions

    Disclaimer: americaninvesthub.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 © 2025 americaninvesthub.com | All Rights Reserved