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Tag Archives: Prices Byte

Consumer Price Index: Jump in Gas Prices Pushes Overall CPI up 0.3 Percent in January

(This is a compilation of Dean Baker’s quick-take analysis over Twitter. Follow @DeanBaker13 on Twitter to get his quick-take analysis of government data immediately upon release.) The overall inflation picture looks good. Inflation in the problem areas (rent, medical care, and education) continues to be under control. We will see a bounce back in hard hit sectors like airfares and hotels.  var divElement = document.getElementById('viz1612965718009');...

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PREVIEW: What to Look for in the January Consumer Price Index

(The monthly Consumer Price Index (CPI) is scheduled for release by the Bureau of Labor Statistics on Wednesday, February 10th at 8:30 AM Eastern Time.) There has been a sharp slowing of inflation in the main problem sectors of education, medical costs, and rent. In the last four decades, education and medical cost inflation has hugely outpaced the overall CPI. In addition, inflation in rent had been running more than a full percentage point higher than the overall CPI since 2014. Inflation...

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A Big Jump In Gas Prices Pushes Overall CPI Up 0.4 Percent In December

(This is a compilation of Dean Baker’s quick-take analysis over Twitter. Follow @DeanBaker13 on Twitter to get his quick-take analysis of government data immediately upon release.) The pandemic has led to a real flip in price trends. Rent, medical care, and education had been sectors with higher inflation. This is no longer the case; now food and cars see the highest inflation. This will likely flip back when the pandemic fades, although slower rental inflation could last. A big jump in gas...

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PREVIEW: What to Look for in the December Consumer Price Index

The resurgence of the pandemic had a major impact on the economy last month, as we saw in the December jobs report. This means that we are likely to see some of the pandemic-specific price effects that occurred in the spring, although they will not be as pronounced, since the December hit was nowhere near as large as the impact of the spring shutdowns. Food Most obviously, we are seeing more store-bought food and fewer restaurant meals. In the spring, this led to a sharp rise in the price of...

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Consumer Price Index: Rental Inflation Has Slowed Sharply Since the Pandemic

(This is a compilation of Dean Baker’s quick-take analysis over Twitter. Follow @DeanBaker13 on Twitter to get his quick-take analysis of government data immediately upon release.) Overall and core CPI both rose 0.2 percent in November. Overall CPI is up 1.2 percent year-over-year. Core CPI is up 1.6 percent year-over-year.  Store bought food prices fell by 0.3 percent, while restaurant food rose 0.1 percent. Year-over-year increases are 3.6 percent and 3.8 percent, respectively. (Store...

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Overall and Core CPI Rise 0.2 Percent in September, as Pandemic Price Patterns Reappear

Price declines in several hard-hit sectors are likely in response to a resurgence of the pandemic. The overall and core Consumer Price Index (CPI) both rose 0.2 percent in September, driven in large part by an extraordinary 6.7 percent jump in the price of used cars. The overall index is now up 1.4 percent from its year-ago level, while the core index is up 1.7 percent. The most striking feature in the September price data is the return of pandemic price patterns in several hard-hit sectors....

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Core and Overall Consumer Price Index Both Fall 0.1 Percent in May

Over the last three months, prices of food in stores have risen 4.1 percent, compared to 0.7 percent for restaurants. Both the core and overall Consumer Price Index (CPI) dropped 0.1 percent in May. It was the third consecutive month of decline for both indexes. The overall CPI has fallen 1.3 percent over the three months since the pandemic began to have a major economic impact, while the core index has dropped 0.6 percent. The pandemic has had sharply divergent impacts, as would be expected....

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Consumer Price Index Falls 0.4 Percent, Driven by Plunging Gas, Hotel, and Airline Prices

Medical care services prices rise sharply, even as overall prices tumble The overall Consumer Price Index (CPI) fell 0.4 percent in March, driven by sharp falls in prices in several sectors that were strongly affected by the coronavirus crisis. The most important of these was a drop in gasoline prices of 10.5 percent. This is the result of the price of a barrel of oil falling to well under $30 on world markets. If it stays near current levels we are likely to see further declines in April....

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