Media
What Those Recent Inflation Numbers Really Mean
November 22, 2022
While many economists agree the Federal Reserve “could still pull off” a soft landing as inflation appears to be cooling at least somewhat, “there are certainly no guarantees,” according to one industry watcher.
“Wall Street rejoiced on November 10 when the October CPI reading declined and headline inflation retreated to 7.8%,” says John Chang of Marcus & Millichap. And “digging under the surface, there are some promising trends” — including the lower price of lumber and steel, which quadrupled in price during COVID-19, and the declining cost in shipping a container from China to Los Angeles, which now stands at around $2,700, down 86% from its peak. The producer price index, which measures wholesale prices, is also showing a decline.
Read the Full Article
“Wall Street rejoiced on November 10 when the October CPI reading declined and headline inflation retreated to 7.8%,” says John Chang of Marcus & Millichap. And “digging under the surface, there are some promising trends” — including the lower price of lumber and steel, which quadrupled in price during COVID-19, and the declining cost in shipping a container from China to Los Angeles, which now stands at around $2,700, down 86% from its peak. The producer price index, which measures wholesale prices, is also showing a decline.
