Wednesday February 15th 2023 Inflation Continues to Cool, But at a Slow Pace

Inflation has cooled off in the United States in January 2023, but it has done so at a slower pace than many economists had predicted.?

It's no secret that inflation has been on the rise in the 3 years due to many factors.?

According to the latest CPI data, it looks like it's going to be a long and winding road back to normal inflation levels.?

Prices for a variety of goods and services, such as groceries and rent, continue to climb considerably.?

Egg prices in January were up 70% from the prior year.?

The Federal Reserve Bank (FED) will continue to raise interest rates, meaning more pain for Americans who are already struggling with layoffs and a lack of jobs.

With higher interest rates, it becomes harder to borrow money for business ventures or to take out a loan of any kind.?

The Fed’s decision to raise interest rates is an attempt to manage inflation by influencing economic growth and spending habits in the country.?

Despite this measure, inflation remains high on some fronts such as rent prices and food costs; two categories that put pressure on consumers’ wallets every day.?

This means that even though the FED is raising rates to help manage inflation levels, there may be no immediate relief from rising prices or other financial pressures for many Americans in the near future.

If you are struggling with debt, and need to reduce or eliminate debt entirely??

You may be considering filing for bankruptcy.

For a Free Consultation call us at 626-338-5505, where a member of our knowledgeable staff will be more than happy to assist you with any questions or needs you may have.

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