Let’s dive into some big numbers and discover a story about a thing called inflation. Imagine it like a magical game where prices of things we buy can go up or down. Our story today is about the final report of inflation in a big place called America.
The Inflation Game – What is it?
Inflation is like a game where the prices of things we need, like toys, food, and clothes, can change. Sometimes, the prices go up, and sometimes they come down. Imagine if the cost of your favourite ice cream or toy changed every month – that’s a bit like inflation!
Inflation The Big Report – 2023 Recap:
Imagine if you have a giant book that tells you about all the prices changing in a whole year. In 2023, the book says that prices went up by 3.4% – that’s like saying if your ice cream was $1 last year, this year it might be $1.03. Not too much, right?
Inflation December – A Special Month in the Book:
Our big book has a chapter about December. In this chapter, it says that prices went up a tiny bit, just 0.3%. It’s like saying your ice cream that was $1.03 in November became $1.04 in December. We call this the Consumer Price Index, a fancy name for the book that tells us about prices.
Gas Prices – Staying Still:
Some things in our book are about cars and gas. In December, the prices for gas stayed mostly the same. It’s like your toy car costing the same every time you visit the toy store. Not too much up and down!
Shelter Costs – A Big Part of the Story:
The book also says that where we live, like our homes, became a bit more expensive. We call it shelter costs, and it made the prices go up. It’s like saying the rent for your toy house went up a little bit.
Special Numbers – Core CPI:
Sometimes, our book looks at special numbers – we call it Core CPI. It takes out the tricky prices that change a lot, like food and energy. The Core CPI says that prices went up 3.9% annually. It’s like saying your favorite toy, without the fancy stickers, became a bit more expensive.
Good News or Not-So-Good News?
A smart friend named Wendy Edelberg says, “There’s nothing wildly concerning in this report.” It means the numbers in the book are not too surprising or too worrying. It’s like saying everything is “steady as she goes,” which means things are moving along smoothly.
Conclusion of Our Number Adventure:
That’s the end of our number adventure, little mathematicians! Prices went up a bit in 2023, but not too much. It’s like playing a game where everyone is following the rules. Until our next adventure into the world of numbers, goodbye, little learners!
