CHICOPEE, Mass. (WWLP) – Stocks rallied this past Friday due to signs that inflation may be cooling. It was the best day for the Dow and S&P 500 since Nov. 30 and the best for the Nasdaq since Dec. 29.

The new report shows that current inflation is at 7.1% and while that is still a historically high number it’s a notable drop from the peak price increases of 9.1% back in June.
It was also the smallest gain since December 2021’s 7% annual jump in prices.
While the overall inflation number has cooled off, certain categories are still much pricier than normal, most notably airfare and food.

Americans have been hit very hard over the past year with grocery prices, energy prices, and other basic necessities of life becoming more expensive and some are starting to see it ease, but not everyone.

“The simple price of getting milk the simple price of getting a soft drink. The prices are tremendously higher, I’m right in front of the grocery store and I see a difference in price I feel it we all feel it and we’re pretty tired of it,” Gregory Clark told 22News.

The next inflation report comes out January 12.