Houston First Time Home Buyer’s Inflation Update 2022 at a Glance

Good afternoon and welcome, each time I go to the grocer, the price of everything seem to be higher. With inflation stubbornly sitting at 8.2 percent, dropping only 0.9 percent since June, the cost of everything, or almost everything has gone up.

And not just groceries, but overall living expenses in general. The Greater Houston Partnership reports that Houston's rate has tracked above the national inflation rate since April. Household energy costs rose 16.2 percent, shelter costs increased to 7.4 percent, and grocery prices grew 14.8 percent since September '21.

Accordingly, the U.S. Federal Reserve will most likely raise rate by another 75 basis points at its November meeting and another 50 basis points or more at it's December meeting. Don't be alarmed. Interest rates has already been raised five times so far this year.

Still, we're not in a recession. Yet. And remember, we only have control over some things, so don't spend too much time worrying about those things of which we have no control. Things will get better. As always, thank you for stopping by. Until next time...Diana

Image by Diana