{"id":84832,"date":"2023-11-15T10:09:54","date_gmt":"2023-11-15T15:09:54","guid":{"rendered":"https:\/\/ifintechworld.com\/investing\/uncooked-beef-roast-costs-4-1-more-8-strange-things-about-the-inflation-report\/"},"modified":"2023-11-15T10:09:56","modified_gmt":"2023-11-15T15:09:56","slug":"uncooked-beef-roast-costs-4-1-more-8-strange-things-about-the-inflation-report","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=84832","title":{"rendered":"Uncooked Beef Roast Costs 4.1% More. 8 Strange Things About the Inflation Report."},"content":{"rendered":"
\n

While consumer prices declined more than expected in October, there were some odd parts of the inflation report that stood out more than others.<\/p>\n

The consumer price index climbed 3.2% in October from the previous year, which was a decline from September\u2019s 3.7% increase. Growth from the prior month was flat, the Bureau of Labor Statistics said on Tuesday. Economists surveyed by FactSet were expecting gains of 3.3% for the year and 0.1% for the month.<\/p>\n

\n

\u201cWe need to see more months with soft inflation data, but the stock and bond market is celebrating today. We\u2019re set up nicely for a year-end rally,\u201d Gina Bolvin, president of Bolvin Wealth Management Group, wrote on Tuesday. The
\n Dow Jones Industrial Average
\n rose 461 points, or 1.3%. The
\n S&P 500
\n gained 1.8% while the
\n Nasdaq Composite
\n jumped 2.1%.<\/p>\n

Many investors and economists are focusing on data points such as how the gasoline index decreased from September, or how shelter costs increased. But digging deeper into the report provides some interesting\u2014and arguably strange\u2014details of prices that have changed drastically in the past month.<\/p>\n

Overall food prices increased 0.3% in October from September. While that number might not be too noteworthy, there were certain food items that stuck out. For one, the price of uncooked beef roasts increased 4.1% from the previous month, while the cost of pork chops rose 3.5%. According to reports from the Agriculture Department, total cattle and hog inventory has been declining in recent months.<\/p>\n

But while beef roasts and pork chops cost more for the American consumer, prices for apples dropped a whopping 7.9% in October from September.<\/p>\n

It wasn\u2019t only food that had some funky results. The prices of laundry equipment declined 5% in the month while photographic equipment and supplies increased 6.8%.<\/p>\n

For sports fans, admission prices for sporting events jumped 3.6% from the previous month. <\/p>\n

\u201cThese are things that could be affected by seasonal factors,\u201d Raymond James\u2019 Chief Economist Eugenio Aleman tells Barron\u2019s<\/em>. The National Hockey League began its regular season schedule on Oct. 10 while the National Basketball Association began its season on Oct. 24.<\/p>\n

For people who are looking to buy their loved one a new jacket for the holiday season, women\u2019s outerwear prices dropped 5.9%. But wrapping that coat will cost more as the price of stationary, stationary supplies, and gift wraps was up 3.5%.<\/p>\n

Aleman said that these individual items\u2014while interesting outliers\u2014aren\u2019t heavily weighted when looking at the total report.<\/p>\n

\u201cThere are some of these items that are so small in the overall CPI that basically it\u2019s probably not affecting much of the direction of the overall core CPI,\u201d Aleman said.<\/p>\n

Even if these items aren\u2019t heavily weighted against the total inflation outcome, consumers are sure to notice these changes as they head into stores during the holiday season.<\/p>\n

Write to Angela Palumbo at angela.palumbo@dowjones.com<\/p>\n<\/p><\/div>\n<\/div>\n

Read the full article here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

While consumer prices declined more than expected in October, there were some odd parts of the inflation report that stood out more than others. The consumer price index climbed 3.2% in October from the previous year, which was a decline from September\u2019s 3.7% increase. Growth from the prior month was flat, the Bureau of Labor […]<\/p>\n","protected":false},"author":1,"featured_media":84833,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"video","meta":{"footnotes":""},"categories":[239],"tags":[83],"class_list":["post-84832","post","type-post","status-publish","format-video","has-post-thumbnail","hentry","category-investing","tag-featured","post_format-post-format-video"],"yoast_head":"\nUncooked Beef Roast Costs 4.1% More. 8 Strange Things About the Inflation Report. | iFintechWorld<\/title>\n<meta name=\"description\" content=\"While consumer prices declined more than expected in October, there were some odd parts of the inflation report that stood out more than others. 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