In this episode of Your Money Call, Diane King Hall discusses the latest data on inflation and how individuals can beat it in the future. She explains the consumer price index (CPI) and its relationship to the cost of living. The data shows that inflation is moving in the right direction, with prices rising on a monthly basis by just two tenths of a percent. However, the cost of shelter, including owning and renting a home, rose four tenths of a percent, making up a significant portion of the overall increase. Diane also discusses the potential impact of an expected interest rate cut from the Federal Reserve on credit card debt and mortgage rates. She emphasizes the importance of saving and investing for the future to beat inflation and avoid relying solely on Social Security in retirement.
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*This podcast is for educational and informational purposes. The content is not intended to be a substitute for financial or legal advice from your own financial advisor, accountant or attorney.
* You can follow podcast host Diane King Hall @dianekinghall on all social channels.
