While CPI inflation is at 3.4%, inflation is much higher in many basic necessities:
1. Car Insurance Inflation: 22.6%
2. Transportation Inflation: 11.2%
3. Hospital Services Inflation: 7.7%
4. Car Repair Inflation: 7.6%
5. Homeowner Inflation: 5.8%
6. Rent Inflation: 5.4%
7. Electricity Inflation: 5.1%
8. Food Away From Home Inflation: 4.1%
2. Transportation Inflation: 11.2%
3. Hospital Services Inflation: 7.7%
4. Car Repair Inflation: 7.6%
5. Homeowner Inflation: 5.8%
6. Rent Inflation: 5.4%
7. Electricity Inflation: 5.1%
8. Food Away From Home Inflation: 4.1%
Keep in mind, inflation has been above 3% for over THREE years now.
This means that these inflation numbers are building on multiple years of already inflated prices.
Clearly, we are not ready for interest rate cuts.
Affordability is still getting worse.
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Some famous words of Buffett. I hope it's useful to you. : )
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areecepOP : The real question here is what is happening with car insurance prices?
Premiums have skyrocketed and year-over-year inflation numbers continue to push higher.
Yet another setback in affordability for consumers.
razo2 : the federal government had given up to inflation. is repeat of 1970. just buy a house with cash and gold, learn from 1970. Hyperinflation is on its way to kill everyone.