Last week’s economic news included readings on housing market conditions, housing starts, building permits issued, and consumer sentiment. Weekly readings on mortgage rates and jobless claims were also released.
Last week’s economic news included readings on inflation, job openings, and weekly reports on jobless claims and mortgage rates.
Inflation Rate Slows in August
After posting 0.60 percent growth for each month in June and July, the Consumer Price Index rose by 0.40 percent in August. These growth rates offset declines in inflation during the first three months of the COVID-19 pandemic. Used vehicle prices increased after deep discounts offered when the pandemic started; analysts said that rising prices for used vehicles offset losses in previous months and produced low inflation for August.
Last week’s scheduled economic news included readings on construction spending and labor sector reports on public and private sector jobs. The national unemployment rate was also reported. Weekly readings on mortgage rates and jobless claims were also published.
Last week’s economic news included readings from Case-Shiller Home Price Indices, along with data on new and pending home sales. Weekly readings on mortgage rates and new and continuing jobless claims were also published.
According to the National Case-Shiller Home Price Index for June, U.S. home prices rose 4.30 percent year-over-year, which was unchanged from May’s year-over-year home price growth rate. Home prices are expected to continue growing through 2020 as businesses reopen and COVID-19 restrictions ease.