Inflation 2.6% Unemployment 4.1% **Gas Prices ** $3.08

Let’s see what this looks like in March or June 2024

The current inflation rate is 2.6% for the 12-month period ending in October 2024. This represents a slight increase from the previous month’s 2.4% rate, with the consumer price index (CPI) increasing 0.2%. The shelter index rose 0.4%, accounting for over half of the overall index increase. Unemployment Rate The unemployment rate stands at 4.1% in October 2024. This is a 0.3 percentage point increase from October 2023. Some notable state-level variations include: • Lowest: South Dakota at 1.9% • Highest: Nevada at 5.7% Gas Prices The average U.S. gas price is $3.08 per gallon as of November 13, 2024. This represents an 8.4% decrease from $3.37 a year ago. State-level price variations include: • Highest: Hawaii at $4.58 • Lowest: Around $2.69 in Texas Economic Outlook Economic indicators suggest a gentle deceleration with some positive signs: • Real GDP growth is projected at 2.7% in 2024, expected to ease to 1.9% in 2025 • Consumer spending is cooling but remains resilient • The Federal Reserve is expected to continue a gradual interest rate easing cycle