Sunday, October 1, 2023

Tampa is still on the list from last year

Cash dollars and stock market indicators (inflation, economy, crisis, finance)

The latest figures show a decline in some measures of inflation despite the rise in gasoline prices. According to the Labor Department, some cities saw larger increases than others last year.

The consumer price index rose 3.7% in August compared to a year ago. Given the annual rate of 3.2% in the month of July. However, excluding categories such as food and energy, year-on-year inflation growth slowed to 4.3% in August from 4.7% in July.

This price drop suggests that inflation is occurring UNDER CONTROL, although slower than the government expected. As officials try to meet the Federal Reserve’s 2% target.

Consumer prices rose 0.6% in August. THE BIGGEST INCREASE in less than a year.

Inflation in Florida

Florida’s largest metropolitan areas lead all others in inflation. The Miami-Fort Lauderdale-West Palm Beach area rose 7.8%. In the case of Tampa-St. Petersburg-Clearwater recorded a 5.9% increase, on par with the Detroit-Warren-Dearborn region of Michigan.

A July report found that Florida’s inflation trend was driven by an influx of new residents and tourists.

High gasoline prices and increased energy costs

Gasoline prices rose nearly 11%, although they have since stabilized. According to AAA, the national average price was $3.85, unchanged from the previous month.

In August alone, energy costs rose by 5.6%. Followed by airfares at 4.9%, the first price increase after two months of declines.

The case of the increase in food prices due to inflation

Food prices have risen 0.2% since July and are showing signs of stabilization. The category is 3% more expensive compared to last year. After double-digit increases last year, grocery bills are high for many Americans.

What is the White House doing to reduce inflation?

The White House Council of Economic Advisers said in a statement Wednesday that it will continue to monitor gasoline prices. Because food and fuel prices have a major impact on the family budget.

Nation World News Desk
Nation World News Desk
Nation World News is the fastest emerging news website covering all the latest news, world’s top stories, science news entertainment sports cricket’s latest discoveries, new technology gadgets, politics news, and more.
Latest news
Related news