Americans' economic outlook brightens as inflation slows and wages outpace prices
11 months ago

Americans' economic outlook brightens as inflation slows and wages outpace prices

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Please enter a valid email address Please enter a valid email address SIGN UP I would like to be emailed about offers, events and updates from The Independent. Please try again later {{ /verifyErrors }} After an extended period of gloom, Americans are starting to feel better about inflation and the economy — a trend that could sustain consumer spending, fuel economic growth and potentially affect President Joe Biden's political fortunes. “While falling inflation took some time to feed through to consumer sentiment, it appears the good news is finally getting through,” said Grace Zwemmer, an analyst at Oxford Economics. Even with the steady slowdown in inflation, prices are still nearly 17% higher than they were three years ago, a source of discontent for many Americans. “As the election goes on,” Cummings said, “and it becomes more clear that the 2024 race will be Trump vs. Biden, Republicans might dial up their pessimism more than Democratic sentiment is increasing, pulling sentiment back down, regardless of economic fundamentals.” The University of Michigan survey found that consumer sentiment among Democrats jumped a sharp 11.8% in January, the second-largest such increase on record.

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History of this topic

US inflation cooled in May in a sign that price pressures may be easing
6 months, 1 week ago

US inflation cooled in May in a sign that price pressures may be easing

Associated Press  

WASHINGTON — Inflation in the United States eased in May for a second straight month, a hopeful sign that an acceleration of prices that occurred early this year may have passed. Consumer prices excluding volatile food and energy costs — the closely watched “core” index — rose 0.2% from April to May, the government said Wednesday. Fed officials, who will …

US inflation eased last month in the first slowdown of 2024
7 months, 1 week ago

US inflation eased last month in the first slowdown of 2024

Associated Press  

WASHINGTON — Led by lower food and auto prices, inflation in the United States cooled slightly last month after three elevated readings, likely offering a tentative sigh of relief for officials at the Federal Reserve as well as President Joe Biden’s re-election team. Instead, he stressed that the Fed’s policymakers need “greater confidence” that inflation is falling to their 2% …

Americans’ economic outlook brightens as inflation slows and wages outpace prices
11 months ago

Americans’ economic outlook brightens as inflation slows and wages outpace prices

Associated Press  

WASHINGTON — After an extended period of gloom, Americans are starting to feel better about inflation and the economy — a trend that could sustain consumer spending, fuel economic growth and potentially affect President Joe Biden’s political fortunes. A survey by the Federal Reserve Bank of New York found that Americans’ inflation expectations have reached their lowest point in nearly …

Americans’ economic outlook brightens as inflation slows and wages outpace prices
11 months ago

Americans’ economic outlook brightens as inflation slows and wages outpace prices

LA Times  

A customer checks prices while shopping at a grocery store last week in Wheeling, Ill. A typical basket of groceries now costs 20% more than in February 2021, just before inflation began to take off. After an extended period of gloom, Americans are starting to feel better about inflation and the economy — a trend that could sustain consumer spending, …

US inflation slows to 6.4%, but price pressures re-emerge
1 year, 10 months ago

US inflation slows to 6.4%, but price pressures re-emerge

Associated Press  

WASHINGTON — The pace of consumer price increases eased again in January compared with a year earlier, the latest sign that the high inflation that has gripped Americans for nearly two years is slowly easing. At the same time, Tuesday’s consumer price report from the government showed that inflationary pressures in the U.S. economy remain stubborn and are likely to …

Lower prices offer Americans slight reprieve from inflation
2 years, 4 months ago

Lower prices offer Americans slight reprieve from inflation

Associated Press  

WASHINGTON — Falling prices for gas, airline tickets and clothes gave Americans a little bit of relief last month, though overall inflation is still running at close to its highest level in four decades. Last month’s declines in travel-related prices helped lower core inflation, a measure that excludes the volatile food and energy categories and provides a clearer picture of …

‘Uncharted territory’: Five key takeaways on US inflation
2 years, 5 months ago

‘Uncharted territory’: Five key takeaways on US inflation

Al Jazeera  

What consumers feeling the pain of rising food and fuel prices need to know. “The size of the shocks that have buffeted the economy and the speed and suddenness with which things have changed has put us in a place where it’s very challenging from a monetary policy standpoint.” Following its meeting next week, the Fed is expected to raise …

US inflation at new 40-year high as price increases spread
2 years, 6 months ago

US inflation at new 40-year high as price increases spread

Associated Press  

WASHINGTON — The prices of gas, food and most other goods and services jumped in May, raising inflation to a new four-decade high and giving American households no respite from rising costs. Consumer prices surged 8.6% last month from a year earlier, faster than April’s year-over-year increase of 8.3%, the Labor Department said Friday. Friday’s report underscored fears that inflation …

‘People are unhappy’: Fed official warns on high inflation
2 years, 10 months ago

‘People are unhappy’: Fed official warns on high inflation

CNN  

New York CNN Business — High inflation is making Americans unhappy, and the Federal Reserve must step up its campaign to get prices back under control, a top Fed official said Monday. “This inflation we’re seeing is very bad for low and moderate-income households,” St. Louis Federal Reserve President James Bullard told CNBC. However, I think we can do it …

US inflation jumped 7.5% in the past year, a 40-year high
2 years, 10 months ago

US inflation jumped 7.5% in the past year, a 40-year high

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy Inflation soared over the past …

Joe Biden’s Biggest Economic Problem? Inflation Is Rising Faster Than Wages.
3 years, 1 month ago

Joe Biden’s Biggest Economic Problem? Inflation Is Rising Faster Than Wages.

Slate  

If you ask most Americans about the job market right now, they’ll tell you it’s fantastic. Unsurprisingly, in a poll last month, two-thirds of Americans told Reuters and Ipsos that “inflation is a very big concern to me,” while the share rating it as the most important issue in the country has started to tick up in Gallup’s survey. For …

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