Prices climb quickly for necessities, Diane Swonk notes

Prices climb quickly for necessities, Diane Swonk notes
U.S. CPI posts swift three-month rise

The consumer price index (CPI) has increased at an annualized pace of 4.4% over the past three months, marking its fastest rate since June. Diane Swonk highlighted that a wide range of items, especially necessities, have risen in price. She also noted that the CPI data was unavailable in October last year due to a six-week government shutdown and was interpolated for that period.

Earlier, Diane Swonk reported that the Federal Reserve was expected to skip a rate hike in October, citing comments from Cleveland Fed President Beth Hammack (here). In a separate note, she shared a poll showing 53% of baby boomers felt confident managing debt, compared to 42% of other groups (here). Both updates reflect Swonk’s continued focus on trends shaping consumer and monetary policy.

This material may contain third-party opinions, none of the data and information on this webpage constitutes investment advice according to our Disclaimer. While we adhere to strict Editorial Integrity, this post may contain references to products from our partners.