You know what the best part about inflation is? If you spend the same amount on groceries, your bags are lighter and easier to carry! 😅🛍️
According to the latest Consumer Price Index (CPI) report, Inflation was down more than the nerds at the economy numbers factory expected. 🤓 Is there more to the story? Here’s what you (and your paycheck) should know. 👇
Here’s Five Fast Facts on what’s in the latest CPI report:
- 😸 Cool Cat - Inflation continued to cool in January. Prices rose 0.2% for the month and 2.4% over the past year, down from December’s rate. Since experts were expecting higher numbers, this new report suggests inflation may be slowing.
- 💵 Sticker Shock See-Saw - When you take out food and energy costs, prices rose 0.3% in January. Over the past year, core inflation climbed 2.5%, which is the lowest level in a few years. That eased worries that tariffs might cause another jump in prices.
- 🏡 Dwelling Data - Rent and housing expenses continue to be one of the biggest drivers of inflation. In January, shelter costs increased 0.2% and are up 3% over the past year. Still high, but the pace has slowed compared to the previous month.
- 🛒 Attention, Shoppers - Inflation hit the cereal aisle hardest last month. Grocery prices rose 0.2%, but cereals and baked goods jumped 1.2%, outpacing everything else. Meanwhile, eggs dropped 7% and beef slipped a little, proving even inflation takes days off.
- ⛽ Give It Some Gas - Gas prices decided to behave in January. The energy index fell 1.5%, mostly because gasoline and fuel oil got cheaper. Regular gas now averages $2.94 nationwide, which is noticeably lower than last year’s $3.16.
🔥Bottom line: Your Cocoa Puffs might be pricier, but you can always have an omelet instead! Complaining about the price of eggs was so last year. Looking to bring in a little extra income? Many Americans are dabbling in a sweet side hustle. Wondering if you should take the plunge? Read this article first!
How has inflation impacted your household budget?
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