Overall, prices are rising slower than they have been, but they’re still rising. There was a big fall in energy commodities like gasoline and other fuel oil, but a rapid increase in energy services like electricity and piped gas.Īlso driving the increase was a significant rise in prices for food, medical care, shelter and new vehicles. It rose by 0.6% to take the annual rate to 6.3%. The story was even worse for core inflation, which removes volatile products such as food and energy. It showed that prices have risen 8.3% over the past 12 months to the end of August. The Consumer Price Index was released this morning at 8:30 a.m. So, is inflation cooling down? The latest CPI data Between mid-June and Monday, gas marched down from $5.01 to just $3.71 per gallon of unleaded.
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On a broader scale, many have cited falling gas prices as the biggest driver of inflation declines.
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Particularly, he noted, “Rents – market rents and imputed rents on owner-occupied housing – are key drivers of all measures of core inflation.”
Nobel Prize-winning economist Paul Krugman tweeted Sunday that he based inflation expectations on sluggish rent prices. All told, economists broadly predicted core CPI to land at 6% year-over-year. Core CPI projections sat a little higher, with gains of 0.3% after stripping out energy’s recent declines. That would bring inflation down between 8%-8.1%, compared to July’s 8.5%. Wall Street broadly expected that headline CPI would decline about 0.1% month-over-month in August. It’s not just the headline numbers that matter – the data inside gives a sneak peek into how different sectors of the economy fare against inflationary headwinds. – Rappler.Ahead of Tuesday’s inflation report, experts speculated that August’s inflation data would play into the Fed’s September rate hike decision. Private companies were valued based on similar companies that are publicly traded,” it added. Net worths are based on stock prices and exchange rates as of the close of markets on July 22, 2022. “Unlike Forbes’ Billionaires rankings, this list includes family fortunes, including those shared among extended families.
maintained his spot as the country’s third richest with a net worth of $5.6 billion, $200 million less than his 2021 net worth of $5.8 billion. He has a net worth of $7.8 billion – over $1 billion more than his net worth in 2021. Property magnate Manuel Villar, who retained his spot as second richest in the country, was the “biggest dollar gainer” this year, according to Forbes.
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