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Inflation is forcing Americans to spend $709 more per month on everyday goods and services than they did just two years ago, according to the chief economist at Moody’s Analytics.

“The high inflation of the past 2+ years has done lots of economic damage,” Mark Zandi tweeted on Friday following the release of the Consumer Price Index — a closely-watched measure of inflation that tracks changes in the costs of everyday goods and services.

The CPI rose moderately, to 3.2% in July versus a year earlier.

“Due to the high inflation, the typical household spent $202 more in a July than they did a year ago to buy the same goods and services. And they spent $709 more than they did 2 years ago,” Zandi added.

Zandi — who also co-founded Moody’s global economic analysis service, Economy.com — said he sees relief ahead, predicting that inflation is “set to moderate further” as the Federal Reserve approaches its 2% inflation goal.

“Vehicle prices will decline more, so too will electricity prices, and the growth in the cost of housing will slow further. The biggest worry is the jump in oil prices, which bears close watching,” he added in the thread posted to X, formerly known as Twitter.

To be sure, the high inflation of the past 2+ years has done lots of economic damage. Due to the high inflation, the typical household spent $202 more in a July than they did a year ago to buy the same goods and services. And they spent $709 more than they did 2 years ago.

Though gas prices hit an eight-month high late last month, energy unexpectedly rose a mere 0.1%, the latest CPI report showed.

However, over the past month, US West Texas Intermediate and Brent crude futures climbed nearly 10%, to $82.83 and $86.39, respectively.

Zandi concluded his analysis with: “The deeper I dig into last weeks inflation statistics, the more confident I am that inflation will be back to the Feds inflation target by this time next year. And this without more interest rate hikes, a recession, or even much of an increase in unemployment.”

Fed officials have said that they’re also no longer forecasting a recession, though the sentiment opposes that of ratings agency Fitch, which owngraded the US top-tier sovereign credit from AAA to AA+, citing the possibility that the economy will slip into a mild recession later this year.

Consumers, however, have continued to feel reprieve from the central bank’s aggressive tightening regime, with core CPI which excludes volatile food and energy prices only rising 0.2% from a month ago, matching the 0.2% increase in June.

“The trend lines look good,” Zandi said, noting that “the July CPI report was great,” especially when compared to June 2022, when inflation peaked at 9.1% to hit a four-decade high.

Rising housing costs were by far the largest contributor to Julys uptick in prices, accounting for 90% of the advance, the Bureau of Labor Statistics reported, though Zandi didn’t seem too concerned.

When The Post reached out to Moody’s for comment, the financial services firm pointed to commentary from another economist at the company, Bernard Yaros, who said that “the US consumer price index was fully in line with our and consensus expectations in July.”

“Moodys Analytics believes that the Federal Reserve is done with interest-rate hikes for the current tightening cycle, and the July CPI helps cement our near-term view on monetary policy,” he added.

The CPI report fueled questions about whether the Fed will continue to hike interest rates later this year after the Fed decided on a 25-basis-point rate hike in July, taking them to a 22-year high.

Fed Chairman Jerome Powell announced that the advance was a unanimous decision, raising the benchmark federal-funds rate to a range between 5.25% and 5.5%. 

Economists were divided on the pending rate hikes following the release of the CPI report.

Greg Wilensky, head of US fixed income at Janus Henderson Investors, added: If economic conditions continue as expected, we believe we have seen the last hike for this cycle. This makes us more constructive on adding interest-rate risk, particularly at the front of curve.

Meanwhile, Raymond James Chief Economist Eugenio Aleman believes stubbornly-high shelter costs are slated to put pressure on headline inflation going forward.

No doubt the Fed will also look at the Labor Departments hiring report for July as it considers whether its done enough to snuff out inflation.

Last month, US employers added 187,000 jobs, the lowest number since COVID peaked in 2020, though unemployment remained little changed month-over-month, at 3.5%.

The labor market has showed surprising resiliency over the last couple of months, adding 209,000 jobs in June and a robust 339,000 jobs in May.

The US is currently enjoying a 30-month streak of monthly job gains.

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Cyclones name WSU’s Rogers to replace Campbell

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Cyclones name WSU's Rogers to replace Campbell

Washington State coach Jimmy Rogers has agreed to a six-year deal to become the next coach at Iowa State, the school announced Friday.

Iowa State athletic director Jamie Pollard moved quickly to replace departing coach Matt Campbell, who agreed to an eight-year deal to take over Penn State on Friday, and landed Rogers, a proven winner at the FCS level who just concluded his first regular season at Washington State.

“Jimmy Rogers is a rising star in college athletics who has very strong ties to the Midwest both as a player and as a coach,” Pollard said in a statement. “He has been on my short-list ever since the first time I met him. He immediately impressed me with his interest in Iowa State University and told me during our first visit several years ago that he wanted to be the next head coach at Iowa State.

“Since our initial meeting, I have stayed in close contact with him and have been very impressed with his work ethic and understanding of what it takes to be successful at Iowa State,” Pollard added. “He is a proven winner who has demonstrated throughout his career that he will fit our culture.”

Rogers, 38, has a 33-9 record over three seasons as a head coach. He went 6-6 in his debut season at Washington State after overseeing a significant roster rebuild following the departure of coach Jake Dickert to Wake Forest.

“My family and I are excited to be joining the Iowa State University community and the Cyclone football program,” Rogers said in a statement. “Iowa State has been one of the nation’s top programs for the last decade and we look forward to building upon its upward trajectory. I’m extremely grateful for the opportunity that Jamie Pollard has given me to lead the Cyclones.”

Rogers previously spent 12 years at South Dakota State and led his alma mater to an FCS national championship in 2023 with a 15-0 season in his first year as the Jackrabbits’ head coach after taking over for longtime coach John Stiegelmeier.

Rogers carried a 29-game win streak into his second year as coach and achieved a No. 3 finish in 2024 with a run to the FCS playoff semifinals and a 12-3 season.

The Jackrabbits also won the FCS national championship in 2022 after Rogers was elevated to being the team’s sole defensive coordinator, and they played for another FCS title in 2020.

Campbell, the winningest coach in Iowa State history with 72 victories, led the Cyclones to eight winning seasons during his decade at the helm and two appearances in the Big 12 championship game.

The Cyclones went 8-4 this season and are awaiting their bowl selection on Sunday.

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Cool it! JMU AD scolds fans for throwing snowballs

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Cool it! JMU AD scolds fans for throwing snowballs

HARRISONBURG, Va. — James Madison athletic director Matt Roan used the public-address microphone to implore Dukes fans to stop throwing snowballs onto the field during the Sun Belt Conference championship game against Troy on Friday night, warning that their actions could cost JMU a penalty.

Roan’s address to the crowd followed an incident that affected the game.

With 4:30 left in the first quarter, Troy’s Evan Crenshaw was nearly hit by a snowball while punting from the end zone with the JMU student section behind him. Crenshaw shanked a 26-yard punt that helped set up the Dukes’ first score, a 40-yard field goal.

Fans in the student section began throwing snowballs during pregame warmups, when the Dukes’ marching band got pelted. They kept it up for most of the first half, despite repeated warnings over the PA system.

Harrisonburg received about 1½ inches of snow Friday, its first measurable snowfall of the season.

No. 19 JMU had an outside shot at making the College Football Playoff field with a win over Troy and a loss by No. 16 Virginia to Duke in Saturday’s Atlantic Coast Conference championship game.

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No. 1 recruit DT Lamar Brown signs with LSU

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No. 1 recruit DT Lamar Brown signs with LSU

LSU and coach Lane Kiffin closed a busy early signing period with a bang Friday, officially securing the signature of defensive tackle Lamar Brown, ESPN’s No. 1 overall 2026 recruit.

Brown, a 6-foot-5, 285-pound defender from Erwinville, Louisiana, signed his letter of intent on the final day of the three-day period, the program announced, formally joining Kiffin and the Tigers as the program’s first No. 1 overall addition since Leonard Fournette in 2014.

Committed to the program since July, Brown was not initially expected to sign this week following meetings between Brown’s representatives and members of the LSU staff Tuesday.

While Brown remained verbally committed to the program, sources told ESPN that his camp harbored reservations over Kiffin’s to-be-completed coaching staff. Uncertainty hanging over the futures of Tigers interim coach Frank Wilson and defensive coordinator Blake Barker marked a particular concern for Brown, who attends high school on the LSU campus and developed close relationships with the program’s previous staff during his recruitment.

As of Friday afternoon, the Tigers have not publicly announced plans for the program’s defensive staff. The statuses of Wilson and Baker, a reported candidate for multiple head coach openings across the country, remain unclear, too. But according to ESPN sources, Brown and the Tigers progressed toward his signing through talks across Wednesday and Thursday, culminating in the program officially landing his signature Friday afternoon.

Within an impressive Tigers defensive class in 2026, Brown was not alone in initially holding off on signing this week before ultimately submitting the official paperwork.

LSU officially announced the signing of ESPN 300 defensive tackle Richard Anderson (No. 90 overall) on Thursday after questions swirled over his signature on the opening day of the signing period. Top 60 defensive linemen Deuce Geralds (No. 39) and Trenton Henderson (No. 60) each pushed their signings to Friday. Henderson, amid late flip efforts from Auburn and Florida State, gave the Tigers his signature Friday morning. Geralds, ESPN’s No. 2 defensive tackle in 2026, followed in the afternoon, minutes before the program announced Brown’s signing.

For Kiffin, who officially arrived Sunday, Brown’s signature closes LSU’s class of ESPN 300 additions and marks a strong finish to a hectic first week on the recruiting trail with the Tigers.

Uncertainty surrounding Brown and the program’s top defensive pledges hung over early-week commitments from wide receiver Brayden Allen and former Ole Miss pledges J.C. Anderson (No. 165 in the ESPN 300) and Ryan Miret. Pass catcher Corey Barber, another ex-Rebels commit, also signed with the Tigers on Wednesday. LSU also lost five commitments following Kiffin’s arrival, headlined by safety Dylan Purter (No. 266), who flipped to Florida on Thursday.

Kiffin & Co. took some big swings, as well. Sources tell ESPN that the Tigers made late efforts to flip USC tight end signee Mark Bowman (No. 29 overall) and four-star South Carolina quarterback signee Landon Duckworth (No. 186). LSU also attempted to sway No. 1 wide receiver Chris Henry Jr., who affirmed his pledge to Ohio State and signed Friday.

With Brown officially in the fold, the Tigers will close the early signing period with the nation’s No. 14 signing class in ESPN’s latest class rankings for the cycle.

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