CPI just a tad higher than expected but I think most people now believe rate cuts will be pushed to Q3, and with the possibility that will be pushed even further. Doesn't help Joe.
According to graphic in link, biggest culprit for year-over-year increase is
Hereā€™s the good news in a troubling inflation report
Quote:
- Auto Insurance 22.2%
- Rent 5.7%
- Housing 4.7%
- Restaurant Meals 4.2%
- Personal Care 4.2%
- Earnings 4.1%
- Transportation 4.0
- Overall Inflation 3.5%
Interestingly, for those declining- New Vehicles -0.1%
- Used Vehicles -2.2%
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I don't understand why Auto Insurance is the big outlier. I wonder if its because the big insurers are jacking up auto rates to make up for the losses in the other areas like Home insurance.
Housing made me check Zillow and it says my home price has gone up 2% in the past 30 days. Not going to complain but that's just ridiculous for boring suburbia north of Atlanta.
For new cars, my baseline is checking Truecar on base model Corolla. Market average is -8.4% of MSRP which is better than the deal I got last Dec.