|
Written by AIER Research Staff
|
|
Monday, 19 January 2009 00:00 |
|
The rate of consumer price inflation fluctuated greatly in 2008, from a peak year-over-year rate of 5.9 percent in July to a low of just 1.1 percent in November. The post-July moderation reflects a series of outright declines in the Consumer Price Index (CPI) itself. The CPI decreased for four consecutive months (through November) - the longest string of decreases in nearly 60 years.
Our 2009 Cost-of-Living Guide points that this volatility is unusual, and most likely temporary. The primary factor in this rollercoaster inflation picture was energy prices, which soared in the spring and summer and crashed in the fall. And long-term trends reveal a continuous and dramatic erosion in the value of the dollar. This is a preview of The Cost-of-Living Guide in AIER's January Economic Bulletin. To subscribe to the Economic Bulletin, please become a Sustaining Member of AIER. Membership starts at just $39 per year.
Already a member? Keep your eye out for the January issue of the Economic Bulletin hitting your mailbox soon.
|
