"Sometimes you have to take matters into your own hands. The government shutdown ended a while ago, but there's been at least one lingering effect: a lack of inflation data. The last CPI report was for September and released way back on October 24. November's inflation report - sorry October, we'll catch you next year - was scheduled to drop December 10, but got bumped to December 18. But who wants to wait another two-plus weeks?"
"Unfortunately, one area readers feel prices keep climbing is something they can't skip: Food. Whether it's groceries (90%) or dining out (87%), the vast majority said those prices have gone up. The data shows the affordability issue that many Americans say they're facing. Despite a stock market that continues to rise, people are finding themselves stretching their budgets. And unlike luxury items that one can hold off on purchasing, groceries are a day-to-day expense that Americans continue to feel the pain of."
"That puts the Fed in an interesting position when it comes to rate cuts. Central bankers will convene next week for their final meeting of the year. As always, Jerome Powell and co. aim to strike a balance between keeping inflation in check and maintaining a robust job market. While our survey is far from scientific, the main takeaway is clear: most people feel prices keep going up."
CPI data releases were delayed after the government shutdown, leaving a gap between the September report and a rescheduled November release. Roughly 200 respondents reported how prices have changed, with 90% saying groceries rose and 87% saying dining out costs increased. Many Americans face affordability challenges as everyday food expenses continue to climb while the stock market rises. Households are stretching budgets because groceries are unavoidable recurring costs. Policymakers at the Fed confront a tradeoff: cutting interest rates could ease borrowing costs but risks pushing inflation and consumer prices higher.
Read at Business Insider
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