CNBC\u2019s Jim Cramer on Thursday said that inflation could finally be cooling off as the freight industry\u2019s pandemic boom wanes.<\/p>\n\n\n\n
\u201cWe caught a real break today with a much lower-than-expected consumer price index number, and a huge part of that came down to how much it costs to get goods to the consumer,\u201d he said. <\/p>\n\n\n\n
\u201cWhy would the Fed need to keep tightening ever harder if the root cause of inflation, moving stuff from place to place, is finally going in the right direction?\u201d he added.<\/p>\n\n\n\n
Stocks saw their biggest rally since 2020 on Thursday after October\u2019s consumer price index data\u00a0came in lighter than expected, raising hopes that inflation could be peaking.<\/p>\n\n\n\n
\u201cWhen you look at all the positives that went \u2026 into today\u2019s CPI reading, you keep coming back knowing it was just hard to move goods around,\u201d which led to inflated prices for consumers,Cramer said.<\/p>\n\n\n\n
FreightWaves reported on Wednesday\u00a0that logistics giant C.H. Robinson is laying off employees to cut costs and adjust for macroeconomic headwinds. This move comes after CEO Bob Biesterfeld said in the company\u2019s post-earnings conference call on Nov. 2 that the company \u201cgot ahead of ourselves in terms of headcount.\u201d<\/p>\n\n\n\n
He added that the company is seeing a slowdown in demand for freight along with weakness in retail and housing, and expects freight markets to continue coming down from pandemic highs.<\/p>\n\n\n\n
Cramer said that he expects inflation to continue to cool when supply costs for the freight industry such as labor and equipment decline more.<\/p>\n\n\n\n
\u201cThey needed more trucks, more drivers, more fuel, so the cost of everything went up and they had to pass it on,\u201d Cramer explained. \u201cC.H. Robinson can\u2019t charge as much when these costs go down. That\u2019s where the big deflation gain really kicks in,\u201d he added.
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CNBC\u2019s Jim Cramer on Thursday said that inflation could finally be cooling off as the freight industry\u2019s pandemic boom wanes. \u201cWe caught a real break today with a much lower-than-expected consumer price index number, and a huge part of that Read More …<\/a><\/p>\n","protected":false},"author":1,"featured_media":457,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[17],"tags":[],"_links":{"self":[{"href":"http:\/\/www.bizator.com\/blog\/wp-json\/wp\/v2\/posts\/456"}],"collection":[{"href":"http:\/\/www.bizator.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/www.bizator.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/www.bizator.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"http:\/\/www.bizator.com\/blog\/wp-json\/wp\/v2\/comments?post=456"}],"version-history":[{"count":1,"href":"http:\/\/www.bizator.com\/blog\/wp-json\/wp\/v2\/posts\/456\/revisions"}],"predecessor-version":[{"id":458,"href":"http:\/\/www.bizator.com\/blog\/wp-json\/wp\/v2\/posts\/456\/revisions\/458"}],"wp:featuredmedia":[{"embeddable":true,"href":"http:\/\/www.bizator.com\/blog\/wp-json\/wp\/v2\/media\/457"}],"wp:attachment":[{"href":"http:\/\/www.bizator.com\/blog\/wp-json\/wp\/v2\/media?parent=456"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/www.bizator.com\/blog\/wp-json\/wp\/v2\/categories?post=456"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/www.bizator.com\/blog\/wp-json\/wp\/v2\/tags?post=456"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}