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One month isn’t enough time to make progress on inflation In general, most economists would agree: One month is not a meaningful length of time to judge how a nation’s economy is faring.
Inflation ranked as the top financial concern for most Americans in 2023, according to the TaxAct survey. And a big part of that is because wage growth remains behind for most.
Annual inflation ticked up for a third straight month in December as food, energy costs rose, CPI report showed. But underlying price measure eased. Inflation rose to 5-month high in December.
Roughly 75% of all Americans received a tax refund in 2022. The average refund, according to IRS data reported by CBS News, was nearly $3,200. This was a 14% increase over the prior year. State...
The latest release shows a mild uptick from November to December and three months in a row of inflation ticking up instead of heading back down toward the Fed’s goal of 2%. The inflation rate ...
“The good news is that shelter costs slowed down to 0.2%, month-on-month, and 4.9%, year-over-year. However, it also showed that there are still plenty of upside risks for inflation going ...
Of course, many people received raises that outpaced inflation last year. That means they may have a bigger tax bill, says Eric Bronnenkant, head of tax at financial advisory company Betterment .
Overall inflation climbed 0.3% in December from the previous month, driven higher by a jump in gas prices. Monthly increases at that level, if they continued, would exceed the Fed's target.