While online retail prices have historically provided a counterweight to inflationary pressures, analysis by Adobe Analytics finds they have started contributing to the rise in consumer prices over the last 15 months.
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The Energy Information Administration has forecast that U.S. households will spend more money on energy this winter, especially those relying on propane or heating oil.
Chip shortages and labor constraints have driven up the price of used vehicles. Wholesale used vehicle prices rose 5.3% in September, bringing the Manheim Used Vehicle Value Index Index—a leading indicator for consumer vehicle prices—up to 204.5, a 40.3% increase since February 2020.
The average hourly earnings for a worker employed in the retail industry, which have risen steadily through the pandemic, increased 4.4% year-over-year to $22.12 in August 2021.
Following its September meeting, the FOMC said that tapering “may soon be warranted.” Additionally, the Fed’s “dot plot” now shows nine members looking for a rate hike before the end of 2022—an even spit—up from seven when the FOMC last met in June.
Inflationary pressures remain present both domestically and around the globe, with core CPI, core PPI and the OECD measure of global PPI remaining well above the Fed’s 2% inflation target.
According to proprietary Deutsche Bank attendance tracker data for Disney’s parks, attendance continues to lag pre-pandemic levels and declined in recent weeks as the spread of Delta rises.
Deposits at U.S. banks increased $228 billion (1.3%) in the second quarter, according to data from S&P Global. Seasonally adjusted deposit growth accelerated from 12.6% last quarter to 13.4%, according to data from the Federal Reserve.
Continued supply-chain constraints have driven shipping costs to record highs. The average price to ship a 40-foot container from China to the East Coast of the U.S., for instance, has increased 410% year-over-year.
While nonfarm employment increased 943,000 in July, pushing the unemployment rate down to 5.4%, small businesses continue to report struggling to find qualified workers to fill vacancies.