Solutions For RealSolutions For Real
  • Home
  • News
  • Personal Finance
    • Savings
    • Banking
    • Mortgage
    • Retirement
    • Taxes
    • Wealth
  • Make Money
  • Budgeting
  • Burrow
  • Investing
  • Credit Cards
  • Loans

Subscribe to Updates

Get the latest finance news and updates directly to your inbox.

Top News

Can You Raise a Family Without Sacrificing Retirement?

June 1, 2025

5 Money Secrets From Billionaire CEOs That Anyone Can Use

June 1, 2025

Why Teaching Your Child Music Builds Financial Success

June 1, 2025
Facebook Twitter Instagram
Trending
  • Can You Raise a Family Without Sacrificing Retirement?
  • 5 Money Secrets From Billionaire CEOs That Anyone Can Use
  • Why Teaching Your Child Music Builds Financial Success
  • 9 Money Saving Habits That Secretly Signal You Don’t Trust Your Partner
  • Pillar To Post Home Inspectors is a Trusted Franchise in the Growing Home Inspection Industry
  • Improve Your Productivity with Windows 11 Pro for Just $15
  • What Every Brand Gets Wrong About Using AI
  • This $200 MacBook Air Handles Your Hustle Without Complaints
Sunday, June 1
Facebook Twitter Instagram
Solutions For RealSolutions For Real
Subscribe For Alerts
  • Home
  • News
  • Personal Finance
    • Savings
    • Banking
    • Mortgage
    • Retirement
    • Taxes
    • Wealth
  • Make Money
  • Budgeting
  • Burrow
  • Investing
  • Credit Cards
  • Loans
Solutions For RealSolutions For Real
Home » Inflation sees the lowest annual rise since 2021
Personal Finance

Inflation sees the lowest annual rise since 2021

News RoomBy News RoomOctober 11, 20240 Views0
Facebook Twitter Pinterest LinkedIn WhatsApp Reddit Email Tumblr Telegram

The Consumer Price Index (CPI), the main measure of inflation, increased 0.2% in September, a similar increase consumers saw in August and July, the Bureau of Labor Statistics reported.

Over the last 12 months, the index increased 2.4%, the lowest yearly increase since February 2021. A rise in food and shelter costs made up 75% of the total increase in September. The shelter index rose by 0.2% in September while the food index increased by 0.4%.

Rising auto insurance premiums, medical care costs and airline fares also all drove the increase in CPI. Balancing out these increases are the recreation and communications indexes, both of which decreased month over month in September.

Energy costs fell significantly in September, as well. The energy index fell 1.9% over the month, after declining 0.8% in August.

Struggling with the effects of inflation? A personal loan can help you pay down your debt at a lower interest rate, potentially reducing your monthly payments. Visit Credible to find your personalized interest rate without affecting your credit score.

THE US ADDED 818,000 FEWER JOBS THIS YEAR THAN ORIGINALLY ESTIMATED

As inflation inches toward 2%, the Fed may cut rates soon

Although the CPI rose in September, the increase wasn’t as large as it has been the last three years, signaling to the Fed that it may be time to lower rates again.

The Federal Reserve has a goal of 2% inflation before it will significantly cut rates, so a small rise in the CPI is good news for consumers, despite high housing and food prices holding on.

Experts predict the Fed is poised to cut rates soon, after a half percentage point reduction in September. This was the first rate cut in four years and has had a direct impact on mortgage rates.

If you’re looking for lower rates on mortgages, an online marketplace could help you compare multiple offers and choose the best rate for you. Visit Credible to learn more about your loan options.

DESPITE TOUGH TIMES FOR TESLA, EV SALES SET NEW RECORD IN SECOND QUARTER

Mortgage rates struggle, hovering around 6%

Mortgage rates hit a two-year low after the initial interest rate cut in September, with 30-year rates dropping to 6.08%. The drop in rates was temporary, with rates continuing to rise again. As of October 3rd, 30-year mortgage rates averaged 6.12%, according to Freddie Mac.

The short-lived dip in rates has had a positive effect on the market, with pending home sales rising 2% year over year at the beginning of October, Redfin reported. This rise is the largest increase in three years. Buyers flooded the market after the initial rate cut by the feds, helped by weeks of rates slowly dropping in August.

Prospective homebuyers shouldn’t get too excited, however. Experts don’t predict rates will fall by much more, but potential rate cuts at the end of the year could change that outlook. Major lenders don’t see rates dropping below 6%, with many predicting rates to hover between 6.2% to 6.4%.

If you’re interested in consolidating or refinancing debt, it can help to have experienced loan officers on your side. Visit Credible to get all your loan consolidation and refinancing questions answered.

MORTGAGE PAYMENTS SOAR FOR PROSPECTIVE HOMEOWNERS IN SWING STATES: REALTOR.COM

Have a finance-related question, but don’t know who to ask? Email The Credible Money Expert at [email protected] and your question might be answered by Credible in our Money Expert column.

Read the full article here

Featured
Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

Related Articles

Can You Raise a Family Without Sacrificing Retirement?

Retirement June 1, 2025

5 Money Secrets From Billionaire CEOs That Anyone Can Use

Burrow June 1, 2025

Why Teaching Your Child Music Builds Financial Success

Make Money June 1, 2025

9 Money Saving Habits That Secretly Signal You Don’t Trust Your Partner

Savings June 1, 2025

Pillar To Post Home Inspectors is a Trusted Franchise in the Growing Home Inspection Industry

Make Money June 1, 2025

Improve Your Productivity with Windows 11 Pro for Just $15

Investing June 1, 2025
Add A Comment

Leave A Reply Cancel Reply

Demo
Top News

5 Money Secrets From Billionaire CEOs That Anyone Can Use

June 1, 20250 Views

Why Teaching Your Child Music Builds Financial Success

June 1, 20250 Views

9 Money Saving Habits That Secretly Signal You Don’t Trust Your Partner

June 1, 20250 Views

Pillar To Post Home Inspectors is a Trusted Franchise in the Growing Home Inspection Industry

June 1, 20250 Views
Don't Miss

Improve Your Productivity with Windows 11 Pro for Just $15

By News RoomJune 1, 2025

Disclosure: Our goal is to feature products and services that we think you’ll find interesting…

What Every Brand Gets Wrong About Using AI

June 1, 2025

This $200 MacBook Air Handles Your Hustle Without Complaints

June 1, 2025

How Retirees (And Teens) Can Find Their First Side Hustle Customers

May 31, 2025
About Us
About Us

Your number 1 source for the latest finance, making money, saving money and budgeting. follow us now to get the news that matters to you.

We're accepting new partnerships right now.

Email Us: [email protected]

Our Picks

Can You Raise a Family Without Sacrificing Retirement?

June 1, 2025

5 Money Secrets From Billionaire CEOs That Anyone Can Use

June 1, 2025

Why Teaching Your Child Music Builds Financial Success

June 1, 2025
Most Popular

3 Ways To Get Paid To Advertise On Your Car

November 2, 20232 Views

AustralianSuper rejects Brookfield’s ‘best and final’ $10.5 billion bid for Origin Energy

November 2, 20231 Views

Can You Raise a Family Without Sacrificing Retirement?

June 1, 20250 Views
Facebook Twitter Instagram Pinterest Dribbble
  • Privacy Policy
  • Terms of use
  • Press Release
  • Advertise
  • Contact
© 2025 Solutions For Real. All Rights Reserved.

Type above and press Enter to search. Press Esc to cancel.