Wednesday, December 14, 2022

Inflation eases more than expected in November to 7.1%, but consumer prices remain elevated
Inflation still about 3 times higher than pre-pandemic average
Inflation moderated more than expected in November, an early sign that painfully high consumer prices are beginning to loosen their stranglehold on the U.S. economy

The Labor Department said Tuesday that the consumer price index, a broad measure of the price for everyday goods including gasoline, groceries and rents, rose 0.1% in November from the previous month. Prices climbed 7.1% on an annual basis. 

Those figures were both lower than the 7.3% headline figure and 0.3% monthly increase forecast by Refinitiv economists, a potentially reassuring sign for the Federal Reserve as it tries to tame runaway inflation with a series of aggressive interest rate hikes. It marked the slowest annual inflation rate since December 2021.

In another sign that suggests underlying inflationary pressures in the economy are starting to slow, core prices – which strip out...Read more, see charts, graph, and video here.

Don't Panic, But There's One Trend Republicans Should Watch Post-2022
Matt Vespa / Townhall Tipsheet

We’re not in full panic mode yet because there are plenty of other issues where Democrats give these people the middle finger, but there were signs that the party made something of a white rural comeback in some crucial races. John Fetterman, though handicapped by a severe stroke, was billed as someone who could reach these voters as he didn’t come off as snobby, pretentious, and grossly condescending like the rest of the Democratic Party. Fetterman dressed like a working man but had the political compass of a left-wing zealot. Still, word on the street was that national Democrats were still not keen on Fetterman but opted not to get involved in the Senate primaries and let the chips fall as they may. It paid off, but the flip side is that Democrats have performed so poorly in rural counties that there was no other way to go but up (via Axios):
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