Spending On Goods Appears To Have Pushed Inflation According To Fed

As the Association of Western Employers and much of the world has been experiencing and analyzing, inflation since the start of January 2021 has weakened that $100 Benjamin Franklin in your pocket into $85 in Grants, Jacksons, and Hamiltons.

In what could be a positive sign, the St. Louis Federal Reserve Bank reports that a good deal of inflation was driven by personal consumption expenditures including durable goods purchases over increased demand for services especially during the lockdown period.

On January 12, the Federal Bureau of Labor Statistics reported that the consumer price index as measured for urban consumers dropped slightly in December 2022 while the overall 6.5% urban CPI rate for 2022 closely shadowing the same rate facing all consumers.

We will continue to track this important story as it continues to shape up in the coming days and weeks.

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