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Steve Scranton
SVP, Chief Investment Officer and Economist
Perspectives
Today’s Perspectives revisits the topic of inflation and tries to provide some perspective on the “real world” impact for the average worker. Economists, analysts, and the media may say it is great news that the inflation rate has peaked and is coming down. The average worker is probably saying “What are you talking about? My paycheck still does not cover the increases in my expenses.” Not to be too graphic, but the analogy for what the average worker is experiencing is that the bleeding has slowed but they are still bleeding since price increases are still faster than wage increases.
The table at the end of this newsletter breaks down the various items included in the inflation calculation and shows the year-over-year growth for each category.
Summary
Observations
Conclusions
Economic Data
This week’s economic data showed clear evidence of an economy that is slowing, as much of the economic data showed deterioration from the previous month’s data.
Employment
Housing
Inflation
Manufacturing
Retail Sales
Small Businesses
As the holiday season approaches, enjoy time with your loved ones and friends this weekend.
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