Money Control Place
  • Politics
  • Business
  • Stocks
  • Investing
  • Politics
  • Business
  • Stocks
  • Investing

Money Control Place

Business

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

by 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
Federal student loans this fall will have the highest interest rate in more than a decade
next post
Red Lobster closing at least 99 locations as its future comes into question

Related Posts

CFPB rule to save Americans $10 billion a...

May 10, 2024

Why it seems like everyone you know is...

May 29, 2024

Customers want instant gratification. Workers say it’s pushing...

August 2, 2023

Hooters to close ‘underperforming’ restaurants amid broader industry...

June 26, 2024

Sex, Signal messages and sabotage: SBF’s top execs...

October 9, 2023

Home price growth is back at pre-pandemic levels....

March 27, 2024

Americans are starting to feel better about the...

December 9, 2023

Apple makes surprise decision to pause some Watch...

December 19, 2023

More states are considering requiring full minimum wages...

January 7, 2024

Walmart is using its own fintech firm to...

June 11, 2025

    Get free access to all of the retirement secrets and income strategies from our experts! or Join The Exclusive Subscription Today And Get the Premium Articles Acess for Free


    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 Breaking Out Again: What This Means for Your Portfolio

    • Gold’s Meteoric Rise: Can the Price Break US$4,000 in 2025?

    • COB: Repayment of Promissory Note

    • Lo Herma Resource Drilling Timing Confirmed

    • Reinstatement to Quotation

    • Tariff Talks: Swiss Propose Investment in US Gold Refining

    Categories

    • Business (1,395)
    • Investing (2,975)
    • Politics (3,699)
    • Stocks (1,807)
    • Uncategorized (20)
    • About us
    • Contact us
    • Privacy Policy
    • Terms & Conditions

    Disclaimer: MoneyControlPlace.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 moneycontrolplace.com | All Rights Reserved