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• Average household spending in North Carolina is $1,017 more per month today to buy the same goods and services as it was in 2021 according to a July report from the U.S. Congress Joint ...
That annual rate is trending below overall inflation (which accelerated to 2.7% last month) and landed at an average seen during 2008-2019, Bureau of Labor Statistics data shows.
And that category has been running stubbornly higher than inflation for more than two years, BLS data shows. After peaking at 8.2% in March, it has trudged lower and now sits at an annual rate of ...
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.
Donald Trump focused on an issue that Republicans are hoping will win them support – inflation and the nation's economy – as Kamala Harris has gained some ground.
In September, the Fed slashed its benchmark rate, which affects many consumer and business loans, by a sizable half-point. It followed that move with a quarter-point rate cut in November. Those cuts lowered the central bank’s key rate to 4.6%, down from a four-decade high of 5.3%.
He also said inflation has never been as high as it was under President Joe Biden; however, the annual inflation rate peaked at 9% in June 2022 under Biden, and it reached 15% in April 1980. Now ...
President Joe Biden on Thursday defended his handling of the U.S. economy amid a 40-year-high spike in inflation that he blamed in part on Russia's invasion of Ukraine. Speaking at North Carolina ...