Inflation has fallen for six months straight! (January 2023)

The latest inflation data was released this morning. The good news is that inflation has been steadily falling the last six months. The bad news is it’s still MUCH higher than anyone would like. 

6.5% is high, but to put this into perspective, six months ago it was at 9.1%!! One of the main factors driving inflation to come down are gas prices. The national average is currently $3.27, which is down from a record of over $5 this past summer.  

On a monthly basis, inflation actually fell 0.1% from the previous month. This was the first monthly decline in 2.5 years! Even with the recent decline, the last time time period we saw inflation at 6%+ was 40 years ago!

No matter what is happening with inflation, stick with your investment plan. Spend less money than you make. Keep enough cash to cover an emergency. Invest the rest in assets that historically will outpace inflation, like index funds and investment real estate!

As always, reminding you to build wealth by following the two PFC rules: 1.) Live below your means and 2.) Invest early and often.‎

‎-Vivi & Shane

#dataisbeauiful #consumerpriceindex #inflation #recession #economics101 #housing #gasprices #federalreserve #cpi #data

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