Consumer prices increased at a somewhat slower pace in April, the smallest monthly increase since August 2021, though inflation remains near a 40-year high. The food at home and shelter index rose at their fastest pace since November 1980 and April 1991. Though gas prices have fallen from their March highs, the pace of inflation…
In the first quarter of 2022, non-real estate secured consumer credit, per the Federal Reserve’s latest G.19 Consumer Credit report, grew at a seasonal adjusted annual rate of 9.7%, with revolving debt growing at 21.4% and nonrevolving at 6.1%. Total consumer credit currently stands at $4.5 trillion, with $1.1 trillion in revolving debt and $3.4…
As rising mortgage rates and high inflation continue to price out homebuyers and reduce affordability, existing home sales dropped to the lowest level since June 2020, according to the National Association of Realtors (NAR). However, the trend in home price appreciation continued as supply remained tight. Total existing home sales, including single-family homes, townhomes, condominiums…
Driven by higher food, gasoline and housing cost, consumer prices continued to accelerate in March. This marked the sixth straight month for inflation above a 6% rate and was the fastest annual pace since December 1981. Though gas prices have fallen slightly from their March highs, the pace of inflation will likely stay high in…
After dropping to a one-year low last month, consumer confidence rebounded slightly in March as strong job growth offset consumer’s concerns about the Ukraine crisis and decades-high inflation. The Consumer Confidence Index, reported by the Conference Board, rose 1.5 points from 105.7 to 107.2 in March. The Present Situation Index increased 10.0 points from 143.0…
The prices of goods used in residential construction ex-energy climbed 1.6% in February (not seasonally adjusted), according to the latest Producer Price Index (PPI) report released by the Bureau of Labor Statistics. Building materials prices increased 20.4%, year-over-year, and have risen 31.3% since January 2020. Over the past five months, the index has climbed 10.6%. The price index…
