The Federal Reserve Board, the central bank of the United States, has released its latest economic report, pointing out that the pace of increase in consumer prices is slowing due to declining demand.
On the 30th of last month, the Fed released the latest economic report called the "Beige Book" compiled by 12 regional Federal Reserve Banks across the United States.
As for the current state of the economy, we judge that the pace of economic growth has slowed down since October 19, due to rising interest rates and inflation weighing on economic activity.
Consumer prices are rising at a moderate or strong pace in most regions, but the overall pace has slowed.
It is said that this is due to the improvement of the supply chain of products, which was confused due to the influence of the new corona, etc., and the decrease in demand.
In addition, retail prices are under downward pressure as consumers seek discounts.
In the beige book this time, it was pointed out that the effects of record-breaking inflation and the Fed's significant interest rate hikes are beginning to spread. Attention will be paid to how the outlook for the level is shown.