Tyler Schipper, economics professor at the University of St. Thomas College of Arts and Sciences, recently spoke with CNN about the latest inflation news and consumer impacts.
From the story:
The latest CPI report largely came in exactly as economists had expected and served up another piece of evidence that high inflation is (very) slowly, but surely, abating.
That’s welcome news for the Federal Reserve and for Americans, who are finally starting to not have their earnings completely eaten away by rising prices. ...
However, inflation remains above what the Fed would like to see; and steady, but still growing, prices continue to put pressure on consumers, said Tyler Schipper, economics and data analytics professor at the University of St. Thomas in St. Paul, Minnesota.
“I think there’s starting to be this trickle of good-enough economic news with some real benefits to consumers that, over time, starts to show up,” Schipper told CNN in an interview. “But if you went polling down the street right now, we’re not there yet.”
On a monthly basis, the gauge that measures price changes for a basket of goods and services ticked up 0.1% from October. Core CPI rose 0.3% from October, matching the prior month’s growth rate.
Shelter prices rose for the second consecutive month, helping to offset the fall in gas prices, which sank 5.8% from October. Food prices moderated slightly from the month before.
