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According to updated economic forecasts from the Fed's Summary of Economic Projections (SEP), the central bank sees core inflation hitting 2.5% next year, higher than its previous projection of 2. ...
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.
The University of Michigan's survey showed consumers' one-year inflation expectations jumped to 3.3% in January, the highest level since May, from 2.8% in December.
However, from December 1982 through December 2011, the all-items CPI-E rose at an annual average rate of 3.1 percent, compared with increases of 2.9 percent for both the CPI-U and CPI-W. [28] This suggests that the elderly have been losing purchasing power at the rate of roughly 0.2 (=3.1–2.9) percentage points per year.
For example, the elderly consume roughly double the medical care of all urban consumers (studied for CPI-U and C-CPI-U) and urban wage earners and clerical workers (for CPI-W); inflation in medical care has exceeded that in much of the rest of the economy. To adjust for this, the BLS computes a consumer price index for the elderly (CPI-E). [16]
Data source: Social Security Administration. As shown above, CPI-E inflation averaged 3.4% through the first eight months of 2024. That is three-tenths of a percent above the average CPI-W reading.
The U.S. inflation rate accelerated in January to 7.5 percent, with prices across a wide range of goods and services rising amid lingering shortages and supply chain disruptions.
The Consumer Price Index (CPI) increased 2.4% over the prior year in September, a slight deceleration compared to August's 2.5% annual gain in prices. The yearly increase, which was the lowest ...