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US Economy: Inflation eases but prices remain high, retail sales fall, jobless claims rise
Inflation eased last month, but prices remain elevated for American consumers. Retail spending decreased sharply, surprising economists and signaling a slowdown. Existing home sales declined due to record prices and high mortgage rates. Wholesale inflation also fell, offering some relief for future consumer prices. Jobless claims rose slightly but the labor market remains stable.
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pbs.org
Inflation cooled last month as gas prices fell, though costs remain elevated
The modest decline could ease pressure on the Federal Reserve to raise their key interest rate to combat rising costs. Yet prices are still rising more quickly than average wages,…
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marketplace.org
Inflation has slowed, but wage growth hasn't caught up
The net result is that the average American household’s buying power has dwindled by 0.1% over the past year.
