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Inflation dropped in September as lower gasoline prices and decreased price pressures in sectors like housing provided relief to consumers’ budgets, according to the latest consumer price index report. The index, a key measure of Inflation, showed a 2.4% increase last month compared to September 2023, marking a slight decline from the previous month and the smallest annual reading since February 2021. While some categories like clothing, car insurance, and groceries saw price increases, economists believe these are temporary and not indicative of a sustained trend. Overall, Inflation has significantly decreased from its peak during the pandemic and is nearing policymakers’ target of around 2%.
Despite concerns about a slowdown in the labor market, the Federal Reserve has begun cutting Interest rates to support the economy. Food Inflation has been relatively low over the past year, with grocery prices up 1.3% since September 2023. Additionally, housing Inflation, which has been a significant factor in overall Inflation levels, is showing signs of decline, particularly in the shelter Inflation category. Services Inflation, however, has been slow to recede, with categories like motor vehicle insurance seeing price increases. Overall, the trend in Inflation remains positive, with economists optimistic about continued improvement in the coming months.
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Emily Jensen, graduated from the London School of Economics and Political Science (LSE) in the UK in 2015 with a degree in Economics. She specializes in financial markets and international trade. After graduating, she worked as an analyst at an investment bank in London, where she developed expertise in global economic trends. She later transitioned into consulting, focusing on fintech ventures and providing insights into global economic developments. Emily is passionate about the intersection of finance and technology and aims to drive innovation in the financial sector.
