breaks down key stories you need to know, from Thursday's Consumer Price Index report to the state of small businesses.The month-over-month CPI is projected to be 0.1%, down from August's 0.2%. The year-over-year reading is anticipated to drop to 2.3% from August's 2.5%. Meanwhile, Core CPI, which excludes volatile food and energy prices, is expected to have a month-over-month rate of 0.2%, down from August's 0.3%. The year-over-year core rate is projected to hold steady at 3.
Travel spending continues to rebound with experiences spending growing, according to GetYourGuide research. GetYourGuide CEO Johannes Reck explains,"We've seen a lot of traction in this space. Research indicates that it's a $300 billion market a year, and that's just the beginning of it. The market continues to grow, the market continues to expand. And if you add what people actually are doing on their weekends, it's a $1.7 trillion market.
What are you expecting at that next FO MC meeting is a continuation of 50 basis points or is it 25 basis points as the most recent jobs report would certainly put some cold water on that 50 basis point expectation.Uh because while the jobs number was better than expected on the flip side, we also know that revisions lately have been significantly to the downside.
But obviously, the geopolitical issues I think are the biggest Black Swan potential is, you know, really the biggest one is what's going on in the Middle East. Uh That is one thing we're doing and we're actually looking at longer duration, you know, longer maturity uh type fixed income to lock in rates because if we did see that, that usually leads to what's called a flight to quality.
So I, like I said, I think it's less about what happens with the release of these earnings and more about what companies are saying about their, what they see in the fourth quarter, what the consumer looks to be doing, their, their habits or behaviors and, and whether the inventories are gonna be, uh, in ex, uh, meaning that they're gonna have to lower prices.
Take a look at housing shelter prices rose 5/10 of a percent about a half of a percent last month or in the the last reading, which was the all this reading and they were the driving factor for all of price growth there for that month.Think your grocery prices and they were up 9/10 of a percent in the month of August from a year earlier and price growth for food away from home.If you're going to fast food chains, that was actually up a 4% on a year over year basis.
They are confident in the fact that it does continue to cool any sort of blip there or any sort of, I guess, refocus from the fed away from jobs which they very much have been over the last couple of months.That would be a real concern here for investors.More consumers, 81% according to one of their surveys consider inflation a major concern in Q 3 86% saying it's impacted their daily, their daily lives, which just goes hand in hand with this conversation.
So what that means is, understand what your current employer is offering in terms of the retirement benefits and know what you were doing before to have the same trajectory in terms of meeting the retirement goals. The National Federation of Independent Businesses uncertainty index jumped in September to the highest level on record as small business owners, they weigh inflation pressures and the November election.Holly, great to have you here with us.
And so kind of thinking through what that might mean for them, what fed policy going forward means for them in maybe more affordable financing options. However, employment on our questions related to unfilled job openings, hiring plans, you know, those have held up pretty well over the last year, we've seen a decline in those saying that they have a job opening that they currently aren't able to fill, but we're still in very high levels um back to where we were in 2019, similar with hiring plans.
But in addition to that, we are seeing compensation um plans and also what they've done in the past quarter, still strong numbers. That 20% small business deduction on qualifying income is a was a huge benefit for them in the 2017 tax cut and Jobs Act.And so that's one of the main concerns that they have moving into 2020 is that Congress passed legislation to make that permanent, that the administration follows through in signs and they're looking for a lot of uncertainty on that front.
Having said that there's a little bit of a contrast, there's also some concerns around inflation and over the next year, as you can see in the data here, you know, 44% feel they may be forced to cut expenses and also will need to raise uh price again. And it gets even worse with, you know, with women of color, we saw nearly 50% of black respondents were never approved versus 36% the white counterparts.We've seen that 90% of all of these small, uh, these, these women owned small businesses are using personal financing to get started.So they're really putting everything they have into their business to get it off the ground.Yeah, I think it's, I, I think, I think it's a concern.
So they're not only doing it, you know, as an income for themselves, but they want to help the local community.And a lot of that money, the majority of money staying in the community really helps. Now, we've got Candy Valentino Business and wealth growth expert and author of the book you see right there on the screen, the 9% edge candy.We, we're gonna get to some of the themes in the book here.
How do we go through and start to reduce our expenses by 10% so that we can bridge a gap and start investing 10% of our money? So we know that when women make more money and they understand money that they actually do good things with it. So with lower rates, realtor.com found that certain markets will actually see more appetite for housing.
And so with that in mind and just to kind of the two together here, where are we seeing perhaps the more outsized impact on confidence and and the sentiment right now, especially as it relates to some of these markets that, that Danny is breaking down here within the the broader kind of landscape of where people are owning versus where they have a longer fixed mortgage, right?
So they're really, they're interested, they're looking at homes, they're enticed, but really some people say it's due to rates and some people say home prices is also a big factor and supply.We've seen an increase in active listings, but it really just hasn't sparked too much of the interest for some buyers because they're probably looking for something very specific and very particular when it comes to buying their home.
Well, first things first, I mean, as we mentioned, there be aware of these marketing tactics so that you don't feel that false sense of pressure to spend yourself into financial strain. And remember every dollar spent on that impulse buy is a dollar not saved for your long term financial service security.So that you don't just, you know, go crazy on these sales brand Rochelle.
And I mean, you know, not to say that I haven't been, you know, spending a little Sprinkle Sprinkle here and there myself throughout the year, but I do try and budget that fun money so that I don't just sort of swipe and hit add to cart and then my money is gone.This will be the second adjustments since the game launched more than 20 years ago.
Uh And that's, you know, just, you know, the beginning of it, you know, the market continues to grow, the market continues to expand.So it's one of the generational shifts where people spend less and less on physical goods and more and more on experiences.Uh Number one is, you know, people are turning more and more to online platforms to book experiences.
So this is a real movement now and we have more than 55,000 experienced creators now live on our platform.
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