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Is Inflation Still in the Room with Us?

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Behind The NumbersMarch 25, 2024
  • Pump the Brakes – Transportation service costs were up 9.9% from February 2023 to February 2024, making it the sector with the highest cost increase, followed by shelter with a 5.7% increase year-over-year (source: U.S. Bureau of Labor Statistics).
  • Flying High – Domestic air traffic rose 30.4% in 2023, reaching levels that were 3.9% higher than 2019. December 2023 domestic air traffic was up 27.0% alone, ranking 2.3% higher than December 2019 travel levels (source: International Air Transport Association).
  • Show Me the Money – Personal income increased $223.70 billion in January 2024, with disposable personal income (personal income less taxes) increasing $67.6 billion according to the Personal Consumption Expenditures Price Index* (source: Bureau of Economic Analysis).
  • Energy Escapade – The February 2024 CPI report showed the energy index rising 2.3% after a 0.9% decline in January 2024. The gasoline index also saw a 3.8% hike in February 2024. (source: U.S. Bureau of Labor Statistics).
  • Home Sweet Home – In 2023, there were 878,500 accepted citizenship applications, up from 781,000 in 2022. Of the 878,500 applications in 2023, Mexico was the lead country, with 12.7% of applicants,, followed by India with 6.7% of applicants (source: U.S. Citizenship and Immigration Services).
  • Settlement Central – A real estate group that represents 1.5 million agents reached a settlement of $418 million with the National Association of Realtors, eliminating the need for sellers to make offers of commission to the buyer’s agent (source: National Association of Realtors).
  • Bouncing Back – February 2024 housing starts increased 9.8% compared to January 2024, with building permits up 13.8% in February 2024. These figures are still down compared to 2023 levels, with February 2024 housing starts 18.4% lower than February 2023 (source: CNN Business).
  • Rising Ransomware – The 2023 Internet Crime Report found that ransomware attacks resulted in more than $59.6 million in losses during 2023. The healthcare and public health sector reported the most complaints, with 249 out of the 1,193 noted complaints (source: Federal Bureau of Investigation).
  • Diversifying Operations – Amazon’s Thursday Night football viewership was up 24% in 2023, capturing 11.86 million viewers during the 2023 NFL season compared to 9.58 million viewers during the 2022 NFL season (source: SportsPro Media).
  • Big Baller – Terrence Shannon Jr. made history for the University of Illinois with his 40-point game against Nebraska on March 16, 2024, marking the most points anyone has ever scored in a Big Ten Tournament game (source: Writing Illini).

*Definitions and Indexes

This newsletter is provided for informational purposes only and does not constitute investment advice or a recommendation regarding any specific product or security. Past performance is not indicative of future results. You cannot invest directly in an index. All references to tax or legal matters are provided for informational purposes only. You should consult your legal or tax professional regarding your specific situation. All investing is subject to risk, including possible loss of principal.

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