ABC’s Christoforous: ‘Things That Really Matter’ to Budgets ‘Are Still High’ and Inflation Declines Were in ‘More Discretionary’ Goods

On Thursday’s “ABC News Live,” ABC News Business Reporter Alexis Christoforous stated that the price declines in the October Consumer Price Index (CPI) report are in things that “are more discretionary. They’re not the necessities we all need” and that “the things that really matter to a household budget are still high.”

Christoforous stated that while the 7.7% annual inflation rate is still a high number, the report is a move in the right direction, “it’s too soon to tell if those rate hikes, those string of rate hikes from the Federal Reserve are really taking hold. I think we’re going to need more months of Consumer Price Index numbers to show whether or not that’s the case. When you look further into this report though, the things that really matter to a household budget are still high. Food, energy, gas, still up year-over-year. Shelter, which…makes up two-fifths of the overall Consumer Price Index, also higher year-over-year. Things that were down last month, airfares, used cars, apparel, definitely a good sign. But again, those are more discretionary. They’re not the necessities we all need and they still continue to take a bite out of household budgets.”

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