美国国家公共电台 NPR--Inflation dips in November, as gasoline savings eclipse grocery price increases

Inflation dips in November, as gasoline savings¹ eclipse grocery price increases

Transcript²

Americans are saving money at the gas pump, only to spend it in the produce aisle³.

Gasoline and grocery prices moved in opposite directions last month, as the overall inflation rate declined slightly. Consumer prices in November were up 7.1% from a year ago, compared to an annual increase of 7.7% the month before.

It was the smallest 12-month increase since December of last year.

The inflation figures were released Tuesday by the Labor⁴ Department, just as the Federal Reserve prepares to raise interest rates for the seventh time in nine months on Wednesday.

Stock market surges after inflation report shows the pain of high prices may ease

ECONOMY

Stock market surges after inflation report shows the pain of high prices may ease

For a year, Americans have seen racing⁵ inflation eat away at their savings and add to their credit card debt. A key source of pain was costly⁶ gasoline.

But gasoline prices dropped 2% between October and November and gas is now selling for less than it was a year ago, before Russia's invasion of Ukraine.

As fuel prices fall, however, food prices have been climbing. Grocery prices rose 0.5% in November, led by a whopping 8.9% jump in the price of lettuce⁷.

"I've never seen it like this," said Brian Guarino, a produce distributor outside Philadelphia.

A wholesale⁸ box of romaine lettuce that typically sells for $25 to $30 on the east coast is costing up to $100, as a result of growing problems in California and high transportation costs.

"You can't put lettuce on a hoagie and expect not to put an upcharge on it, when you're paying $100 for 24 heads of lettuce," Guarino said.

An insect-borne virus curbed⁹ lettuce production in the Salinas Valley this fall. And while gasoline prices have tumbled, the diesel¹⁰ fuel used to truck vegetables still costs nearly $5 a gallon.

While food and energy prices are notoriously volatile¹¹, the prices of many other goods appear to be stabilizing¹². Used car prices fell 2.9% between October and November, while new car prices were flat.

"It is far too early to declare goods inflation vanquished," Fed chairman Jerome Powell said two weeks ago, about the stabilization¹³. "But if current trends continue, goods prices should begin to exert downward pressure on overall inflation in coming months."

People are getting roommates and, in turn, easing housing inflation

Likewise, there are signs that housing inflation has begun to ease. Rents are still rising much faster than they were before the pandemic, but not at the breakneck pace they were in the spring.

Shelter costs rose 0.6% in November, down from 0.8% the month before.

The average cost of renting a single-family home in April was nearly 14% higher than a year earlier, according to CoreLogic, a housing data company. By September, the annual increase had dropped to around 10%, partly because of softening¹⁴ demand.

"People are now, as a result of high rent, doubling up again, so we're seeing an increase in the number of people moving in with roommates," said CoreLogic economist¹⁵ Selma Hepp.

"There's still some ways to go," Hepp said, adding that she expects "very fast deceleration over the next year."

Rents are reflected only gradually in the official inflation data, so the slowdown in housing costs is not yet fully¹⁶ evident in the consumer price index.

Still, Powell described the real-time reports from the rental¹⁷ industry as encouraging, with inflation in new leases falling.

"We would expect housing services inflation to begin falling sometime next year," Powell said.

Wages still pose an inflation threat

The Fed chairman is less confident about the price of services, which includes everything from restaurant meals to haircuts and which is largely driven by the cost of labor.

Wages have been rising at a rapid rate, and Powell worries that could keep inflation stubbornly high.

"Despite some promising¹⁸ developments, we have a long way to go in restoring price stability," he said.

Fed policymakers are meeting this week, and they're widely expected to raise interest rates by another half percentage point, in an effort to tamp¹⁹ down demand and bring prices under control.

Interest rates have already risen from near zero in March to nearly 4%. Powell warned rates are likely to climb higher and stay up longer, adding that history cautions against easing up on the fight against inflation too soon.

1 savings   

n.存款，储蓄

参考例句：

• I can't afford the vacation,for it would eat up my savings.我度不起假，那样会把我的积蓄用光的。
• By this time he had used up all his savings.到这时，他的存款已全部用完。

2 transcript   

n.抄本，誊本，副本，肄业证书

参考例句：

• A transcript of the tapes was presented as evidence in court.一份录音带的文字本作为证据被呈交法庭。
• They wouldn't let me have a transcript of the interview.他们拒绝给我一份采访的文字整理稿。

3 aisle   

n.（教堂、教室、戏院等里的）过道，通道

参考例句：

• The aisle was crammed with people.过道上挤满了人。
• The girl ushered me along the aisle to my seat.引座小姐带领我沿着通道到我的座位上去。

4 labor   

n.劳动，努力，工作，劳工；分娩；vi.劳动，努力，苦干；vt.详细分析；麻烦

参考例句：

• We are never late in satisfying him for his labor.我们从不延误付给他劳动报酬。
• He was completely spent after two weeks of hard labor.艰苦劳动两周后，他已经疲惫不堪了。

5 racing   

n.竞赛，赛马；adj.竞赛用的，赛马用的

参考例句：

• I was watching the racing on television last night.昨晚我在电视上看赛马。
• The two racing drivers fenced for a chance to gain the lead.两个赛车手伺机竞相领先。

6 costly   

adj.昂贵的，价值高的，豪华的

参考例句：

• It must be very costly to keep up a house like this.维修这么一幢房子一定很昂贵。
• This dictionary is very useful,only it is a bit costly.这本词典很有用，左不过贵了些。

7 lettuce   

n.莴苣；生菜

参考例句：

• Get some lettuce and tomatoes so I can make a salad.买些莴苣和西红柿，我好做色拉。
• The lettuce is crisp and cold.莴苣松脆爽口。

8 wholesale   

n.批发；adv.以批发方式；vt.批发，成批出售

参考例句：

• The retail dealer buys at wholesale and sells at retail.零售商批发购进货物，以零售价卖出。
• Such shoes usually wholesale for much less.这种鞋批发出售通常要便宜得多。

9 curbed   

v.限制，克制，抑制( curb的过去式和过去分词 )

参考例句：

• Advertising aimed at children should be curbed. 针对儿童的广告应受到限制。 来自辞典例句
• Inflation needs to be curbed in Russia. 俄罗斯需要抑制通货膨胀。 来自辞典例句

10 diesel   

n.柴油发动机，内燃机

参考例句：

• We experimented with diesel engines to drive the pumps.我们试着用柴油机来带动水泵。
• My tractor operates on diesel oil.我的那台拖拉机用柴油开动。

11 volatile   

adj.反复无常的，挥发性的，稍纵即逝的，脾气火爆的；n.挥发性物质

参考例句：

• With the markets being so volatile,investments are at great risk.由于市场那么变化不定，投资冒着很大的风险。
• His character was weak and volatile.他这个人意志薄弱，喜怒无常。

12 stabilizing   

n.稳定化处理[退火]v.（使）稳定， （使）稳固( stabilize的现在分词 )

参考例句：

• The disulfide bridges might then be viewed primarily as stabilizing components. 二硫桥可以被看作是初级的稳定因素。 来自辞典例句
• These stabilizing design changes are usually not desirable for steady-state operation. 这些增加稳定性的设计改变通常不太符合稳态工作的要求。 来自辞典例句

13 Stabilization   

稳定化

参考例句：

• The position of barycentre on plane directly impacts the stabilization and manipulation of plane. 飞机重心位置直接影响飞机的稳定和操纵特性。
• With the higher olefins, stabilization of the energetic intermediates occurs more easily. 在较高的烯烃情况下，高能的中间物稳定作用更易出现。

14 softening   

变软，软化

参考例句：

• Her eyes, softening, caressed his face. 她的眼光变得很温柔了。它们不住地爱抚他的脸。 来自汉英文学 - 家（1-26） - 家（1-26）
• He might think my brain was softening or something of the kind. 他也许会觉得我婆婆妈妈的，已经成了个软心肠的人了。

15 economist   

n.经济学家，经济专家，节俭的人

参考例句：

• He cast a professional economist's eyes on the problem.他以经济学行家的眼光审视这个问题。
• He's an economist who thinks he knows all the answers.他是个经济学家，自以为什么都懂。

16 fully   

adv.完全地，全部地，彻底地；充分地

参考例句：

• The doctor asked me to breathe in,then to breathe out fully.医生让我先吸气，然后全部呼出。
• They soon became fully integrated into the local community.他们很快就完全融入了当地人的圈子。

17 rental   

n.租赁，出租，出租业

参考例句：

• The yearly rental of her house is 2400 yuan.她这房子年租金是2400元。
• We can organise car rental from Chicago O'Hare Airport.我们可以安排提供从芝加哥奥黑尔机场出发的租车服务。

18 promising   

adj.有希望的，有前途的

参考例句：

• The results of the experiments are very promising.实验的结果充满了希望。
• We're trying to bring along one or two promising young swimmers.我们正设法培养出一两名有前途的年轻游泳选手。

19 tamp   

v.捣实，砸实

参考例句：

• Then I tamp down the soil with the back of a rake.然后我用耙子的背将土壤拍实。
• Philpott tamped a wad of tobacco into his pipe.菲尔波特往烟斗里塞了一卷碎烟叶。