Friday, July 19, 2024

COTW: Inflation Slows

 This chart from WolfStreet.com shows the various indexes of inflation;


Durable goods like used and new cars, furniture and electronics is leading the decline in inflation.  Those prices have been falling since 2022 after soaring during the pandemic.  Overall CPI has risen just 3% year over year and has been in a tight range since 2023. Core services, except energy, is still high after reaching 7% in 2023.  It is now around 5%.  Motor vehicle insurance has seen the largest increase year over year of 19.5%! it is weighted about 3% of the CPI.