284,000 fewer full-time jobs than one year ago. Lots of companies have been mentioning during their earnings calls the last 2-3 weeks that things are slowing. CEO of Bank of America, one of the biggest credit card companies, said that consumer spending is slowing. Shelter, vehicle insurance, and food away from home are the only things that are driving inflation.
Shelter takes months to correct because leases are typically for a year. Similar to vehicle insurance, where premiums are locked in for six months. My vehicle insurance is way up from one year ago, but almost the same as 6 months ago.