nicetriangleAug 11, 2023

US inflation cooling as consumer prices rise moderately again

Higher rents were mostly offset by declining costs of goods such as motor vehicles and furniture. #news

https://www.reuters.com/markets/us/us-consumer-prices-rise-moderately-july-weekly-jobless-claims-above-expectations-2023-08-10/

US consumer prices rise moderately in July; weekly jobless claims above expectations

U.S. consumer prices increased moderately in July amid lower costs for goods, including used motor vehicles, a trend that could persuade the Federal Reserve to leave interest rates unchanged next month.

Reuters
Show threadargv_minus_oneAug 11, 2023
Who the hell is buying motor vehicles and furniture in this economy? We can’t even afford rent and food!
Show threadcutitdown
Consumer spending in general is actually still quite strong, but the growth has slowed a bit.
Aug 11, 2023 at 7:00pmWeb
Show threadargv_minus_oneAug 11, 2023
Discretionary consumer spending, though? I’m sure consumer spending on food is plenty strong, because food prices are through the roof and eating isn’t optional, but what about nice-to-haves like TVs?