Inflation easing after prices drop for the first time since May 2020
Are you tired of constantly feeling the pinch at the grocery store? Good news: inflation has finally dropped for the first time in over 2 ½ years. Since May 2020, the inflation crisis has nearly crippled American households - with everything from gasoline to eggs requiring customers to pay a premium. While eggs remain at the top of the headlines with wild price tags on a dozen, the declining price of a gallon of gasoline seems to be the biggest contributor to the lowest inflation rate.
According to the latest consumer price index (CPI), December’s cost of living dropped 0.1% compared to the rise of 0.1% in November. The Bureau of Labor Statistics is reporting that this now marks the sixth consecutive month of yearly declines and that this may be a sign of inflation easement on the horizon.
Warren Buffett, the iconic investor and Chairman of Berkshire Hathaway, isn't shy about addressing the gaps between the rich and poor.