“While September CPI inflation is at 2.4%, inflation is much higher in many basic necessities:
1. Car Insurance Inflation: 16.3%
2. Transportation Inflation: 8.5%
3. Homeowner Inflation: 4.9%
4. Car Repair Inflation: 4.9%
5. Rent Inflation: 4.8%
6. Hospital Services Inflation: 4.5%
7. Food Away From Home Inflation: 3.9%
8. Electricity Inflation: 3.7%
Core CPI inflation is now at 3.3% and rising for the first time in 18 months.
Meanwhile, 258,000 Americans filed for unemployment this week ALONE.
Consumers are struggling.”
While September CPI inflation is at 2.4%, inflation is much higher in many basic necessities:
1. Car Insurance Inflation: 16.3%
2. Transportation Inflation: 8.5%
3. Homeowner Inflation: 4.9%
4. Car Repair Inflation: 4.9%
5. Rent Inflation: 4.8%
6. Hospital Services Inflation:…— The Kobeissi Letter (@KobeissiLetter) October 10, 2024
Same story on CPI as previous month: Total is “ok” at +2.4% because energy is collapsing, but core is still +3.3% and Services remain HOT & STICKY at +4.7%. Transport +8.5% 🥵.
Sticky services is how inflation has always worked. It’s settled science. pic.twitter.com/6ZYGDrfUZ8
— Wasteland Capital (@ecommerceshares) October 10, 2024
“Price Increases over last 4 years…
CPI Medical Care: +8.4%
CPI Used Cars: +12.4%
CPI Apparel: +13.8%
CPI New Cars: +20.4%
CPI Food at home: +22.4%
CPI Shelter: +23.6%
CPI Food away from home: +25.1%
CPI Electricity: +29.5%
CPI Gas Utilities: +32.3%
CPI Transportation: +41.9%
CPI Gasoline: +44.4%
US Home Prices: +47.0%
CPI Fuel Oil: +53.7%
CPI Auto Insurance: +59.7%”
Price Increases over last 4 years…
CPI Medical Care: +8.4%
CPI Used Cars: +12.4%
CPI Apparel: +13.8%
CPI New Cars: +20.4%
CPI Food at home: +22.4%
CPI Shelter: +23.6%
CPI Food away from home: +25.1%
CPI Electricity: +29.5%
CPI Gas Utilities: +32.3%
CPI Transportation: +41.9%…— Charlie Bilello (@charliebilello) October 10, 2024
Inflation data points to a worrying trend in the US economy