U.S. Inflation Surges To 3% In January, Slashing Hopes Of Interest Rate Cuts
U.S. consumer prices came in higher than expected in January as inflation showed few signs of slowing down.
U.S. consumer prices came in higher than expected in January as inflation showed few signs of slowing down.
Jeffrey Small, President of Arbor Financial, joins Alicia Summers to discuss the impact of these numbers on consumers, the potential for rate cuts in 2025, and alternative strategies to address inflation.
The latest report revealed by the Labor Department showed that U.S. inflation rose in November from the pace it set a month earlier, going up for the second month in a row.
The October Consumer Price Index (CPI) report shows a 0.2% monthly rise in inflation, with a 2.6% year-over-year increase, slightly above September’s 2.4% rate.
Consumer prices rose slightly more than expected in September amid higher food costs, but the annual increase in inflation was the smallest in more than 3-1/2 years.
U.S. central bankers will likely start long-awaited interest rate cuts next week with a quarter-of-a-percentage-point reduction.
The U.S. Federal Reserve will cut interest rates by 25 basis points at each of the remaining three meetings of 2024.
U.S. consumer prices fell for the first time in four years in June amid cheaper gasoline and moderating rents.
Inflation Slowed in May According to the Consumer Price Index Out Today.
By Tim Doescher May 15, 2024 (Views expressed by guest commentators may not reflect the views of OAN or its affiliates.)