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Consumer Prices Dip in December

There’s some encouraging news when it comes to the cost of almost everything.

Prices have for the most part been stabilized. It’s a step in the right direction, but that doesn’t mean everything has gotten less expensive.

According to the December consumer price index, the cost of what we buy, dropped a bit. It’s mostly because energy and gas prices dropped.

While airline fares are also lower, groceries are still climbing a bit higher.

“So, we just keep an eye on that, you know from store to store we see some changes, but everything is really high,”

Just because inflation has slowed doesn’t mean all prices have dropped yet. But it does give us a little more flexibility.

Gas prices have fallen.

“I’m encouraged, of course, by the drop in the price of gasoline, which was just rising at an incredibly rapid rate the first half of the year,” said Alex Field, professor of economics at Santa Clara University.

Moving forward, the focus economically now goes to the end of this month, when the federal reserve next meets, to decide whether or not to continue to raise interest rates, their strategy for slowing the economy, and curbing inflation.

Scott Budman has the full report in the video above.

Source: NBC Bay Area

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