by Joshua Rodriguez
CBS News
The Bureau of Labor Statistics releases an inflation report every month. This report gives economists, investors and consumers an idea of how fast prices are growing in the United States. And, the state of price growth in the United States can impact financial markets. The precious metals market may also react to the next inflation report. And, that means the report can cause the price of gold to move.
The next inflation report will be released on July 11, 2024. This month’s report will show June’s inflation rate. And, this is a crucial report to watch. Inflation had cooled in April and May. Continued cooling of price growth could lead to a Federal Reserve rate cut.
But, regardless of whether inflation continues cooling or starts to pick back up, it may be a good idea to buy gold before the report comes out. Below, we’ll explain why you may want to act now.
Consumer sentiment has dropped sharply since the first of the year, according the University of Michigan’s survey. The Conference Board’s Consumer Confidence measure did also. Inflation is probably the culprit.
Wednesday on MSNBC’s “All In,” Rep. Nancy Pelosi (D-CA), the former Speaker of the House, declared President Joe Biden was “reducing” inflation in America.
I recently drove to the local KFC and ordered a 12-piece meal to go. The price was just under $50 (tax included). Fortunately, I had a coupon that saved me some money, but I’d be lying if I said I didn’t feel some sticker shock.
The cost of living crisis has been an issue which has hit millions of people. Spiralling food and fuel prices have put an ever greater strain on household finances. BBC News headed to a café which has tried to help people beat the crunch to find out the real effects.
Strange market moves on Friday make me a little nervous. I’m not sure what this one was about. (More…)
Inflation took a breather in May, cooling to its lowest annual rate in over three years, according to key data eyed by the Federal Reserve.
If you are really struggling with the high cost of living, I want you to know that you aren’t alone. In recent months, I have been hearing from so many people that feel like they are drowning financially. Have you experienced a palpable sense of panic when you compare your rising bills to the level of income that you are currently bringing in? So many people out there are stressed out of their minds because it has become such a struggle to pay the bills each month. As I discussed a few days ago, a typical U.S. household must now spend $1,069 more a month just to buy the exact same goods and services that it did three years ago. Over the course of an entire year, that is almost an extra $13,000 dollars. Month after month, prices just keep going higher, but those that are running things continue to insist that everything is just fine.
Stubborn inflation has been hitting Americans at every level: From grocery prices to those of housing, high costs have placed an enormous toll on consumers. Thus, it came as no surprise that the Federal Reserve chose to keep its rates steady following its Federal Open Market Committee (FOMC) meeting which concluded on May 1. In addition, it also left the door open as to when it would start cutting them.
After getting whacked by inflation, incomes have now outrun inflation for the 17th month in a row.