- April 17, 2024
- Posted by: legaleseblogger
- Category: Related News
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## Consumer Price Index (CPI) Analysis for March 2024
The Consumer Price Index (CPI) saw a 2.9% year-over-year increase in March 2024, up from the 2.8% gain in February. This rise was primarily driven by the following factors:
– Gasoline prices surged, contributing significantly to the overall inflationary trend compared to February.
– Shelter prices maintained a steady increase of 6.5% year over year in March, mirroring the growth seen in February.
– Gasoline prices specifically rose by 4.5% year over year in March, a stark contrast to the 0.8% increase witnessed in February.
– The clothing and footwear index experienced a notable shift, with a 1.4% rise in March following significant declines in January and February, marking the largest decreases since the COVID-19 pandemic began.
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****** just grabbed a
Do they base food prices off of Costco’s hotdogs?
Probably unpopular opinion but this is a pretty good update even if CPI did rise. Gasoline has been going up significantly for the past ~6 months and is a significant source of inflation. Despite that we’re still seeing CPI not rise up to what it was in the past. Core inflation, food inflation, etc are all decreasing as well.
So while we would’ve loved to see another CPI drop, we really can’t control the global price of oil so this seems relatively decent all things considered.
Core CPI is down to 2.0% wow…
If the trend continues, itll be in the 1.0-1.999% range soon
Since us inflation bros get asked this every time the CPI gets announced: yes, 2.9% is too high.
Alberta here. Rent went up 30% this year and 30% last year. Food bill has doubled in 2 years as well.
Fuel price has gone up an easy 50% in the last 2 years.
Utilities prices have nearly doubled.
So not sure how they finagle that into 2.9%
I’d prefer inflation closer to 1%. It’s basically theft of the current value of your money that disproportionately affects lower and middle class income group. It should be kept to the lowest level possible without tipping into deflation.
People not realizing mortgage interest cost is in these numbers which is directly impacted by the policy rate. This increased 25.4%. Exclude that and inflation is 2.0%.
Inflation is still sticky
Without the carbon tax, the CPI number would be 2.3%. So while the government “appears to be fighting” to put inflation in control, it is one of the reason why inflation is high. Further, it seems more spending is coming soon. Irony, much?