(12 December 2021) In November, U.S. consumer price inflation, a measure of the cost of a wide-ranging basket of consumer goods and services, hit its highest year-over-year growth in four decades. Inflation continues to put pressure on households and businesses.
The consumer price index was up 6.8% year-over-year in November, largely driven by food, energy and housing prices. Core inflation, which excludes volatile categories such as food and energy, climbed 4.9%, the highest jump since 1991.
In recent months, high inflation resulting from the pandemic has been spurred by disruption in global supply chains as well as by strong demand resulting from stimulus packages.
The persistently elevated inflation has raised concern among Federal Reserve policy makers. The uptick has lasted longer than expected, and it is showing no sign of cooling down as demand for products remains strong and fear of the new Omicron variant continues to disrupt manufacturing and transportation. If the Fed regards inflation as permanent rather than transitory, it is likely to cut back support for the economy by slowing down monthly bond purchases, and eventually by raising interest rates — likely sooner than they had previously expected.
(17 June 2021) With the US vaccination progress continuing and many anti-COVID restrictions easing, American's driving activity is recovering, and the increased mobility combined with stimulus checks, pent-up demand, and high credit availability have quickly translated into an increase in car sales. Many Americans wanting to buy a car are stumbled on car shortages at auto dealerships, though. This growing demand and lack of supply have already translated into sharp price growth in the used car and car rental markets. According to the US Bureau of Labor Statistics' Consumer Price...
(19 November 2021) Consumer price inflation, a gauge of the cost of living, accelerated in the United Kingdom in October, largely driven by higher energy prices and mounting supply-chain disruptions, reaching the highest level since December 2011. The U.K. consumer price index rose 4.2% YoY in October following a 3.1% increase in September. The October rise was more than double the target of 2% set by Bank of England. Household energy costs were one of the biggest contributors to inflation; Ofgem, the British energy regulator, raised the price cap on domestic gas and electricity...
(5 April 2021) In 2020, for the first time since Adobe began tracking digital purchasing power, US consumers were getting less for their online dollars than they had the previous year. The rise in consumer demand and online sales in the second half of 2020, stimulated by US government spending, easing of monetary policy, and pent-up demand from the early months of the pandemic, was met with supply chain disruptions and rising prices.The online dollar continued to weaken in the opening months of 2021. In February, online inflation was evident in 13 product categories out of 18...
(05 August 2021) The US consumer price inflation (CPI) index is probably the most tracked economic indicator today. The main question: whether the current inflation wave has been driven by temporary factors (as the Federal Reserves hopes) or is something that will turn into a long-term threat to U.S. economic growth. Findings from the small business survey from the National Federation of Independent Business (NFIB) can shed light on the near-term future. According to the NFIB's small business actual price change indicator, which, when viewed with a six month time lag, can serve...
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