Determining your inflation

Gleaning insights from the latest CPI data, we now know that consumer prices rose 8.5% in July 2022 compared to a year earlier. However, as we re-learn each time we visit the gas pump, inflation is not equally distributed among the goods and services we use.

This week's highlight article from the Wall Street Journal provides readers an interactive experience that helps provide a better understanding of what inflation is and in what goods and services we are seeing it most.

Tip: Scroll to the middle of the page and find a tool that allows you to create your very own inflation index by picking a basket of goods that you purchase most often. Try using your most recent grocery list as a starting point!

pace of price increases slow

The pace of price increases slowed in July coming in below economist forecasts. Headline CPI came in flat month-over-month and core CPI (excludes volatile energy & food prices) increased 0.3% in July vs. 0.7% in June. Headline CPI prices are up 8.5% from a year ago while Core CPI prices are up 5.9% versus a year ago. While inflation may have peaked back in June at the 9.1% rate, that doesn't mean inflation is no longer a problem. The Fed and the economy have a long way to go before we get back to reasonable sub-3% inflation.

What Else We're Reading

Legacy Trust Family Wealth Offices

 4200 Marsh Landing Blvd, Suite 100

Jacksonville Beach, FL 32250

Office: (904) 280-9100

Fax: (904) 280-9109

Legacy Trust Family Wealth Offices of Jacksonville Beach, Florida, is a new type of financial services firm - an independent multi-family office - that brings all facets of your personal financial affairs under one roof, where they are coordinated for optimum efficiency and maximum performance. 

Investment products are not FDIC insured, are not bank guaranteed, and may lose value.