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Let's start with some good news: Inflation relief. |
Inflation eased for the third straight month in December as gas prices and grocery bills leveled off. |
(Rent kept surging, but the other two household budget items declining made up for that). |
Consumer prices were still up 6.5% from a year ago but down since November, according to the Labor Department's consumer price index, which measures what people pay for goods and services. |
But, if you're not keeping track, that increase was the slowest annual gain since October 2021. It was also in line with economists' estimates. Phew. |
A trip to the grocery store is still an exercise in sticker shock. (Eggs!) But gas prices are declining on worries about a global recession and lower oil demand. |
How will we know if we are in a recession? |
How will we know we're in a recession? What will it look and feel like? |
| How will we know if we are in a recession? | Michael M. Santiago, Getty Images | |
"It will feel uncomfortable," Ryan Sweet, chief U.S. economist of Oxford Economics, told USA TODAY. "Recessions are always painful but the next downturn won't be anything close to…the past two." |
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About The Daily Money |
Each weekday, The Daily Money delivers the best consumer news from USA TODAY. We break down financial news and provide the TLDR version: how decisions by the Federal Reserve, government and companies impact you. |
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