Inflation set to hold steady or moderate further - Fed's Beige Book

Wednesday, 30. November 2022 20:03

Consumer prices in most districts in the United States "rose at a moderate or strong pace" but the pace of price rises slowed, the Federal Reserve stated on Wednesday in its latest Beige Book report and added inflation was "expected to hold steady or moderate further moving forward."

The report also noted that economic activity was slightly up in five districts and remained flat in the rest as inflation and interest rates "continued to weigh on activity." Low-to-moderate income consumers turned to lower-priced goods due to high inflation, while auto sales and home sales declined

The Fed added that employment grew modestly in most districts, but stressed that labor demand " weakened overall."

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Author:
Baha Breaking News (BBN) / NP