Inflation Uptick in August: what you need to know.

Inflation:

• Consumer inflation rose 0.2% in July, but is still near the lowest level in more than two years.
• Core inflation, which excludes food and energy prices, also rose 0.2%.
• The Fed is watching inflation closely and may hike interest rates again in September.

Home prices:

• Home prices hit an all-time high in June and are expected to appreciate 5.8% in 2023.
• This is a good opportunity to build wealth through homeownership.

Jobless claims:

• Initial jobless claims rose by 21,000, but continuing claims fell by 8,000.
• The labor market is still strong, but we'll have to see if the rise in jobless claims is a sign of things to come.

In summary, inflation is still relatively low, but the Fed is watching it closely. Home prices are rising, which is a good opportunity for homeowners. The labor market is still strong, but we'll have to see if the rise in jobless claims is a sign of things to come.

Here are some additional details that you may want to include in your simplified version of the article:

• The rise in inflation was partly due to a slightly negative figure from last July, which was removed from the rolling 12-month calculation and replaced with last month's 0.2% reading.
• The rise in home prices was driven by strong demand and limited supply.
• The rise in jobless claims may be due to a number of factors, including the end of the COVID-19 enhanced unemployment benefits and seasonal layoffs in the construction industry.

Feel free to reach out to me at Bkell@prmg.net or call 443-607-2332 if you have any questions or need assistance with your financial endeavors. Together, let's decode the complexities of the economy and pave the way to a more secure financial journey.

Source- MBS highway