New government data showed prices notching a monthly decline for the first time since April 2020, adding to an improving picture on inflation as the new year looms.
The Personal Consumption Expenditures Price Index (PCE), one of two major readings on inflation, fell by 0.1% between October and November, the Bureau of Economic Analysis said Friday — the first monthly decline in more than 3 1/2 years.
Combined with other recent data showing disposable personal income and consumer sentiment rising, the United States’ economy appears to be heading into 2024 on strong footing even as it cools down. That has boosted expectations for a potential “soft landing” that reins in inflation without triggering mass layoffs or a recession.
No. Going down is called deflation and it’s fucking ruinous to the quality of life for people that have to live through it. Wages and prices always go up. When they mismatch, it hurts. But you don’t wish for them to go down. It’s a death spiral and nobody really knows how to reliably stop it.
Backwards logic right here of the economist
If people spend less on healthcare and food for the same product and services it will be “fucking ruinous”.
Yeah dog! Just go ahead and “do your own research” right? Fuggen “common sense” tells you what you need to know! No damned feckless eggheads telling YOU how shit actually works! All lies!!!
Basically yes. Economics has a predictive power of chance, bases their assumption on a sentient that has no relationship to humanity, prefers to avoid empirical evidence, and continues to advocate for ideas that benefit their employers.
The consensus among economists is that government bailouts of banks are a good idea while wiping out student loan debt is a bad idea. This really illustrates it well. Banks employee economists so economists defend them.