Consumer Price Index Rose 0.2% in July

By Tom Burnett CFA On August 10, 2023, the Bureau of Labor Statistics reported the Consumer Price Index data for July. The CPI rose by 0.2% in July, the same rate as in June. The 12-month increase was 3.2%, compared to 3.0% in June. This 3.2% rate is down from a recent high of 9.1%...

By Tom Burnett CFA On August 4, 2023, the Bureau of Labor Statistics released its Employment Report for July. Total employment rose by 187,000 jobs to a total of 156.3 million. Unemployment held steady at 5.8 million, leaving the rate unchanged from June at 3.5%. This rate has ranged between 3.4% and…

By Tom Burnett CFA On July 26, 2023, the Federal Reserve raised the Federal Funds rate by 0.25% to a range of 5.25% to 5.50%, the highest level in 22 years. In its public announcement, the Fed maintained its goal of 2.0% inflation. The vote to raise rates was unanimous. In addition, the Fed statement…

By Tom Burnett CFA On July 25, 2023, the International Monetary Fund (“IMF”) released a regular update of its global GDP forecast report. Global GDP growth in 2023 is now expected to reach 3.0%, up from a forecast of 2.8% in the April projections report. The U.S. economy is forecast to grow just…

By Tom Burnett CFA On July 12, 2023, the Bureau of Labor Statistics released the Consumer Price Index information for June. The CPI rose 0.2% for the month, following an increase of 0.1% in May. The CPI rose by 3.0% in the 12 months ending in June, the lowest year-over-year increase since March 2021…