A new batch of inflation data released Friday showed that while prices remained uncomfortably high in September, a slowdown in wage growth indicates some relief may be in sight. That’s an encouraging development for the Federal Reserve, which is battling to bring down the highest inflation in 40 years. The Personal Consumption Expenditures Index, which measures prices paid by consumers for goods and services, climbed by 0.3% from August to September but remained unchanged at 6.
“There are a lot of moving parts, a lot of assumptions, but I think the most likely scenario is that we’re at the worst of the inflation, and it should be back close within spitting distance of the Fed’s [2%] target by spring of 2024,” he said. Consumers are spending — but are being stretched Consumers have been struggling for months with prices that have remained firmly stuck at levels not seen since the 1980s.
Shell announced its second highest quarterly profit ever, just shy of the record they set earlier this year. The oil giant intends to spend $4 billion of these excess profits on stock buybacks and dividends to enrich shareholders.
2022 in a nutshell
Record profits year after year. But we’ll blame wage growth…. sure….
Prices are still rising quickly. Wages are rising rapidly too. And the strong consumer demand that is helping to fuel the inflationary fire shows no sign of letting up. Wages + salaries up 1.3% Link to BLS report - FoxNews inflation news
It’s mostly corporate greed. Most are showing higher porofits.
Uncomfortably high… Like crime victims are uncomfortably dead, or small businesses are uncomfortably shut down. Nice CNN, real nice
“Inflation” (maybe CNN wants to direct that energy to the actual culprits contributing to high prices)
Only before November 8th. After that, prices, interest and gas will rise out of site. Gas in my area, up 40 cents in 2 days. Dems not looking good.
Is there no one on your staff with any economic sense to review these tweets before they go out?
This story telling bull, is why people of color are leaving the democrat party and not watching CNN the lying needs to stop. Be adults.
This is what democrats want. Plan working perfectly.
No more land of milk & honey
Duh , you think
No Kidding? We needed Data to know this
Biden is a failure and a liar
You can save on groceries, it's making better choices, eating less meat (we eat way to much of it) and not buy 6 cases of Gatorade like i see every time I go to the store.
It is earnings season, every big food, big oil, airline, car company are running record profits and you never mention that even in their guidence they are admitting (particulary food makers) that they had decreased volume of sales but still made record profits. So they rose price
Anddddd guess what that means lefties? Another interest rate hike! You fools
Thanks be to Joe Biden and the Democrats...........
Did you take a look at the companies PL and stock prices? I am sure the added costs to run their business, due to inflation, has made them less profitable… right? Right?
Ja duh.. vertel mij wat...
Thanks to the republicans
MahsaAmini IranRevoIution
Not Joe's fault.
Just another selling point for biden , just like job numbers are up but not reporting numbers are up because people are taking 2nd and even 3rd job to put food on the table is not a positive selling point in my book .
Shell oil reported a profit of $9.5 billion last month.
Prices up all over the WORLD. Shell Oil doubles their PROFITS. The rich get richer. Vote BLUE
It is a real war in zahedan iran MahsaAmini
Surging energy costs that have boosted inflation around the world and hit consumers hard. -Reuters Hmmm... what could have caused energy costs to rise? 🤔
Uncomfortably high?!
The mullahs regime is now massacring the people of Zahedan. MahsaaAmini EU_Commission WhiteHouse 10DowningStreet GermanyDiplo francediplo JapanGov ausgov CanadianPM MahsaAmini
Profiteering and ineffective legislators. CNN would be best served outlining the profit performance of many corporations including fossil fuels so the consumer has a true picture of ‘cause and effect’ AND how Republican legislators have failed to support government initiatives.
We did it Joe 😂
I don't need data to tell me that.
Shell made how much profit this year again?
Let’s go Brandon
Sure!…but big oil continues to make record profits!!…disgraceful!!
This shows how inflation is still having an impact on our day to day lives because of prices still being so high even after action from the Federal Reserve. Does this mean we could see a more serious and impactful action from the Federal Reserve?LuiggiDonayre econ_ta EconUMD
Spread this video everywhere 😂😂 This is how the Chinese say I'm hungry
“Uncomfortably high” seems like an emotion and not a fact.
Fed is going to raise rates to crazy levels, trigger a massive recession & then in two years everyone will second guess why they drove rates too high. Can we just skip that & leave them where they are so that this can play out a bit?
Yeah no shit…. And yet this administration tells you that the inflation reduction act is working.. Don’t piss in our ear and tell us it’s rain…..
“Mom, how come there’s no food for lunch today” “I’m just uncomfortable with these prices honey”.
In belgium 12.6% inflation...
Thanks Joe
'uncomfortably high'
The fed action benefit rich people which means it doesn’t do shit to fight inflation. Best case scenario it may reduce the asset bubble but nothjng else
In other words, 'despite Powell trying to throw people out of work, they remain stubbornly working and buying things..'
Who's biggest responsible for the inflation 🤔
You don’t say!?!?
now do corporate profits.