An Economy Goldilocks Would Definitely Live With
With the economy stronger than expected and inflation cooling fast, it’s a Goldilocks economy, and the outlook for 2024 is brightening.
The 12-month rate of inflation plunged again in June, as measured by the Consumer Price Index. CPI measures inflation based on prices of a fixed basket of monthly household expenses. The Headline 12-month rate of inflation – the rise in the cost of all the items in the fixed basket household expenses — declined to 3% from 4% in May. It was the second month in a row in which the 12-month rate of inflation declined a full percentage point.