Why America's inflation cooldown might be here to stay

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Why America's inflation cooldown might be here to stay
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Key inflation drivers — housing, goods and services — are all pointing in a favorable direction.

There is more good news for an American consumer bedeviled by soaring prices, and policymakers racing to tame them:: Similar optimism this summer was quickly crushed by subsequently higher inflation readings. But there are good reasons to believe this time really is different, with key inflation drivers — housing, goods and services — all pointing in a favorable direction.: The fate of the economy hangs largely on how inflation evolves.

That's baked in, but the soft inflation data raises the odds that the central bank will conclude its rate-rising campaign at its next meeting seven weeks from now, perhaps with a mere quarter-point hike.was up 7.1% over the last 12 months — the lowest since the end of 2021. Indeed, core prices rose only 0.2% in November, the lowest since August 2021. That works out to a 2.4% annual rate, which is consistent with the Fed's inflation target.Prices for physical goods are firmly in deflationary territory, a reversal of pandemic shortages.

Goods with plunging prices also include furniture and bedding , laundry equipment and tools and hardware .in the services side of the economy, too — where consumers are increasingly shifting spending.

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