Weekly Market Commentary – Inflation is slowing but consumers aren’t feeling it.
The Markets Inflation is slowing but consumers aren’t feeling it. In August, for the first time in two years, inflation (excluding volatile food and energy costs) dropped below four percent. Last week, one of the Federal Reserve (Fed)’s favored inflation measures – the Personal Consumption Expenditures (PCE) Price Index – indicated that prices rose 3.9 percent, year-over-year, in August 2023. That’s an improvement from January, when prices rose by 4.9 percent, year-over-year, but it remains above the Fed’s target of 2 percent. While slowing inflation is good news, many Americans are not feeling relief. “Even as the Federal Reserve’s [...]