U.S. Inflation Slowed for Sixth Straight Month in December - WSJ
Consumer-price index rose 6.5% last month from a year earlier
S E E D E D C O N T E N T
By Gwynn Guilford Updated Jan. 12, 2023 12:31 pm ET
U.S. inflation eased in December for the sixth straight month following a mid-2022 peak as the Federal Reserve aggressively raised interest rates and the economy showed signs of cooling.
The consumer-price index, a measurement of what consumers pay for goods and services, rose 6.5% last month from a year earlier, down from 7.1% in November and well below a 9.1% peak in June.
More good economic news. Things are looking up!
Per BLS stats ... One dozen eggs averages:
CA and NY > $5.00/dz in January 2023
Good news, indeed!
The overall CPI has fallen, but in large part due to rapidly falling energy prices. Food prices have finally stabilized. Pump prices appear to have bottomed, while pipeline gas and electricity could ease more.
Increases into the summer months of the above should be expected, except for food (I hope).
Core inflation (sticky prices) seems to have flattened and is projected to remain in the same narrow band through January.
My CPI was 5.9% y/y and -0.2% m/m.
Yeehaw!!
Eggs up here in NW Wisconsin are up above $5 a dozen. Mostly because of more bird flu among the suppliers in MN, WI & IA.
That would be the total grocery basket cost has somewhat stabilized.
I agree that eggs have gone through the roof, but eggs are not the only thing I eat.
I was in Costco yesterday and they didn’t even have eggs. We found some at Walmart and they’re like $7 a dozen. It’s pretty crazy.
Where is that?
My wife got some at Aldi today. Which means it's probably the lowest cost in the area. Higher than a gallon of gas.
Southern California
Ouch, here in Northern lower Michigan we’ve been lucky and never run out of staples like that. Just bought a dozen large brown free range eggs this week for $3.50. Up about 40% since uncle Joe took office but available just the same.
Just heard from a friend in Iowa who said his Costco was out of eggs as well. Maybe it’s a Costco supplier thing.
According to the radio this morning there are still some 10M posted job openings across the country mostly in the small business sector.