Housing has a prominent role to play within the consumer price index, which is one of the most significant inflation indicators. As shelter is the most expensive cost for the average American household, it accounts for over a third of the CPI weight, providing it with a disproportionate impact on inflation data. For many months, …
April saw a decline in inflation, with the consumer price index rising only 4.9% compared to the same period last year, marking the smallest increase since April 2021. This signals a deceleration of prices for household staples and an overall moderation of price pressures for consumers from multidecade-high levels. Policymakers aim to keep inflation at …
Debt is a common issue for many Americans, with the average amount of household debt on the rise. However, addressing this problem should not be daunting even though the process can be overwhelming. The first step towards paying off debt is taking stock of exactly what you owe. This involves gathering all your statements and …
The consumer price index (CPI) measures inflation rates based on several consumer categories, but housing has the most significant impact. Housing accounts for more than one-third of the weighting in the CPI, which makes it the largest expense for an average US household, according to economists. The pandemic led to a hike in housing costs, …
Financial experts predict that the Federal Reserve will temporarily halt its aggressive interest rate increases in its upcoming meeting. However, consumers are unlikely to see any relief, even with the pause. The central bank has implemented 10 interest rate hikes since last year, the fastest it has done so since the 1980s. Unfortunately, inflation has …
When it comes to buying a home now, there are plenty of challenges. But homeownership can be a great way to build wealth and to maintain housing stability, said Kamila Elliott, a certified financial planner and co-founder and CEO of Collective Wealth Partners, a boutique advisory firm in Atlanta. Achieving that goal now can be challenging, with …
CNN reports that over 100 million income tax returns for 2022 have been received by the IRS so far this tax season, meaning many households are yet to file. The article outlines several last-minute tips to keep in mind before the April 18 deadline, including potential filing extensions for those in federally declared disaster areas …