New government data showed prices notching a monthly decline for the first time since April 2020, adding to an improving picture on inflation as the new year looms.
The Personal Consumption Expenditures Price Index (PCE), one of two major readings on inflation, fell by 0.1% between October and November, the Bureau of Economic Analysis said Friday — the first monthly decline in more than 3 1/2 years.
Combined with other recent data showing disposable personal income and consumer sentiment rising, the United States’ economy appears to be heading into 2024 on strong footing even as it cools down. That has boosted expectations for a potential “soft landing” that reins in inflation without triggering mass layoffs or a recession.
Backwards logic right here of the economist
If people spend less on healthcare and food for the same product and services it will be “fucking ruinous”.
Yeah dog! Just go ahead and “do your own research” right? Fuggen “common sense” tells you what you need to know! No damned feckless eggheads telling YOU how shit actually works! All lies!!!