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- Daily Scoop 22-12-13
Daily Scoop 22-12-13
👋 Your Tuesday Scoops - Amazon steals tips & Goldman cuts staff
Today's Scoop:Cruising
Big Picture
Overall inflation might be almost back to normal.
Food and rent costs are still climbing.
Small businesses are feeling a little less pessimistic.
The Market:
⬆️
+0.7%
S&P 500: 4,019.65
1Mo:
+2%
| 1Yr:
-13%
| 5Yr:
+50%
The market rallied again today as investors celebrated the recent inflation report.
Inflation might be almost back to normal.
The Labor Department's Consumer Price Index [🤓] rose only 0.1% in November, less than economists expected. That increase is much more in-line with the 0.0-0.2% monthly averages of pre-pandemic times. Over the past year and a half, prices have risen at nearly 5-10x that pace each month.
Food and rent costs are still surging
, but expenses like gas, used cars, transportation, and other products got cheaper last month.
While inflation is down, prices aren't.
Inflation is the rate of change, and average living costs are still 7.1% more expensive than a year ago. Some retailers might offer discounts, but
don't expect prices to decrease.
We can hope for prices to stop rising quickly and for wages to catch up.
Small businesses are feeling less pessimistic about inflation and staffing.
The NFIB's Small Business Optimism Index increased last month but still sits below the 49-year average. Small businesses have struggled with supply chains, rising costs, and filling open roles.
Company Scoops ❤🌎💰
(Click to dig in & vote your reaction, see how others feel)
Amazon
-
Uber
-
Meta
-
Wells Fargo
-
Goldman Sachs
(These links only work for 24 hours while the story is live)
🤓 Inside Scoop...
The
Consumer Price Index (CPI)
is one of the main ways economists track inflation.
Inflation
is the rate at which things get more expensive. The CPI looks at a set basket of stuff your average consumer spends money on and tracks how much it costs each month. The rate of change is inflation. Prices rarely go down. It's normal for things to get more expensive. You'll never be able to buy a Coke for a quarter again, but that's ok. Low inflation (~1-2% per year) is standard. High inflation, like we're seeing now with prices of essential goods going up nearly 7-10% per year, is a problem. It's unmanageable, especially if our incomes aren't rising in tandem. Policymakers are looking to slow economic activity and cool spending so prices stop rising so quickly.
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