This is a YouTube video titled "October CPI Inflation Report" containing a discussion between two speakers analyzing the October Consumer Price Index inflation data released in November 2024. The speakers review the inflation figures, market reactions, and implications for housing prices and interest rates going into 2025. The content is a financial commentary or report.
It's the biggest day of the month again for Morgan Rates. The October CPI inflation report came in. Let's unpack it.
The expectation was a 0.3% monthly increase.
In inflation and it came in.
At 0.3%, spot on.
So there wasn't a major reaction from the market. It got a little better and now it's kind of giving up.
Those gains midday.
Technically came in at.
0.28%.
But they round to the nearest whole number. But if we dive into the details, that's where I get a little bit.
More optimistic for the future.
The Fed's goal is to get to 2% inflation. Right now, we're at 2.6% for the year.
However, if you.
Strip out house prices.
And rent, which.
Makes up about half of the overall inflation.
Report, it's by.
Far the biggest piece of the pie. If you take those away, we would be.
At 2.1%. So most all.
Inflation is actually under control. Focus now is just on rent.
Prices and house prices.
As we get more inventory, house prices.
Should start to continue to ease.
So that's going to.
Be the next shoe to drop. As more houses become.
Available, house prices.
Gets better, which also makes interest.
Rates get better.
So be on the lookout for that going into 2025.
