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Softening Shelter Crucial to Consumer Inflation
The latest Consumer Price Index (CPI) showed more progress on headline inflation, as consumer prices rose 2.4% for the 12 months ending in September. While this was hotter than expected, it does mark a slowing from August’s 2.5% annual gain and the lowest reading since February 2021. The core measure, which strips out volatile food […]
Family Hack of the Week
October 1 is National Pumpkin Spice Day, making the perfect reason to enjoy these Perfect Pumpkin Muffins courtesy of Allrecipes. Yields 14 muffins Preheat oven to 350 degrees Fahrenheit. Grease 14 muffin cups. In a large bowl, mix 1 15-ounce can pumpkin puree, 3/4 cup melted butter, 3/4 cup brown sugar, 1/4 cup water, 2 […]
Continuing Jobless Claims Suggest Slower Pace of Hiring
Initial Jobless Claims fell by 4,000 in the latest week, with 218,000 people filing for unemployment benefits for the first time. Continuing Claims rose by 13,000, as 1.834 million people are still receiving benefits after filing their initial claim. What’s the bottom line? Initial Jobless Claims remain tame, showing that employers are reluctant to let […]
U.S. Economy Grew by 3% in Second Quarter
The final reading on second quarter GDP showed that the U.S. economy grew by 3%, per the Bureau of Economic Analysis. This was in line with estimates and much stronger than the pace seen in the first quarter, which was revised higher from 1.4% to 1.6%. What’s the bottom line? Economic activity was better than […]
Another Record High for Home Prices
The Case-Shiller Home Price Index, which is considered the “gold standard” for appreciation, showed home prices nationwide rose 0.2% from June to July after seasonal adjustment, breaking the previous month’s all-time high. Home values in July were also 5% higher than a year earlier, following a 5.5% gain in June. Case-Shiller’s 10-city (+6.8% YoY) and […]
Pending Home Sales Tick Higher
Pending Home Sales, which are signed contracts on existing homes, rose 0.6% from July to August, per the National Association of REALTORS® (NAR), rebounding from their lowest level this year. However, sales remain 3% lower than they were a year earlier. What’s the bottom line? Signed contracts on existing homes are starting to pick up, […]
August New Home Sales Beat Estimates
New Home Sales, which measures signed contracts on new homes, declined 4.7% from July to August, though the 716K-unit pace was above forecasts and is the third highest level of the year. Plus, sales in July were revised higher to a 751K-unit pace, which is the highest level of 2024 thus far. What’s the bottom […]
Consumer Inflation Trending in Right Direction
August’s Personal Consumption Expenditures (PCE) showed that headline inflation rose 0.1% from July, while the year-over-year reading fell from 2.5% to 2.2%. Core PCE, the Fed’s preferred method which strips out volatile food and energy prices, also rose 0.1% monthly. The year-over-year reading ticked higher from 2.6% to 2.7%, remaining near the lowest level in […]