Inflation Slows but Prices Stay High as Fed Eyes Further Tightening
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Inflation may be slowing but prices remain much higher than pre-pandemic levels, with eggs almost double and home prices 30% higher.
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Mortgage rates have shot up from 2.84% in 2020 to 7.5% currently, per Freddie Mac data.
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Federal Reserve hints further tightening is possible if inflation persists, while Target and Walmart offer low-cost Thanksgiving options.
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Food prices up 3.7% in September, but poultry down 0.4% and steak/veal up 7%.
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October CPI expected at 3.3% annual inflation, with core rate possibly accelerating to 4.2%, concerning for the Fed.