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Thursday's report from the Labour Department showed that overall prices rose 0.3% from November and 3.4 % from 12 months earlier. Those gains exceeded the previous 0.1 % monthly rise and the 3.1 % annual inflation in November. Excluding volatile food and energy costs, so-called core prices rose just 0.3% month over month, unchanged from November's rise.
Inflation remains a challenge for the Federal Reserve as prices increase in December
Last three months thanks to the lower demand. but we also have to acknowledge that lots has been done by government to shy away the dependency they had on russian gas imports thanks to liquefied gas imports but also thanks to a storage policy so it has to be a little bit of both and the fact that gas prices now are probably back to levels that we saw in late 2021 is obviously a reflection of that. i is obviously a reflection of that. . r' is obviously a reflection of that. ., , ., that. i asked the question because _ that. i asked the question because what _ that. i asked the question because ...
Very big impression. we already have 10,000 gas stations right now under $4 -- >> martha: we're seeing a lot of the core prices on rent and food and things outside of energy are putting on people's discretionary income. that is a problem. do you believe that we have peaked and things are starting to improve and we're not going to be in a recession? can you just answer that for me briefly, if you could, sir? >> i believe the fact that we've had a million jobs created over the last three months and 372,000 jobs created with this month. it's not consistent with what one thinks of when you think o...
Get fixed quickly. >> was there, then, a glut of oil and now there is a shortage of it? >> we've hit both extremes in the past 18 months. no question about it. but i think the real issues, the one that you alluded to, it's not just gasoline. energy has a whole is only 7% of the typical family's budget. if you look at food prices, they're up sharply. if you look at core prices outside of food and energy, they're up at a 5.5% annual rate so far this year. there's a broad inflation problem and that's the issue for the american family. they're being hit by this, wages are rising and that's good ne...