Latest CPI Data | Massive Inflation Still In The Economy

 Latest CPI Data | Massive Inflation Still In The Economy  

The latest CPI 2022 numbers were released yesterday, and they are ugly. Prices excluding energy and food, sometimes referred as core inflation, is at a 40 year high. Core inflation is up 6.6% year over year, and overall inflation growth is at 8.2% year over year. Lastly, rents increased .8% month over month, which is the largest monthly increase since June 1990.  

As you can see, these inflation numbers are still red hot in the US economy. Ultimately, this will mean that the Federal Reserve will have to increase interest rates to fight off this rising inflation. The Federal Reserve meets again in November, and the market expects a pretty significant increase to the interest rates based on this massive inflation numbers. 

What does this mean for the overall dental profession? I have put together a few of my thoughts on the topic and potentially where the market is headed. Take a look and let me know what you are expecting in terms of the direction of the economy and how your dental group is positioning themselves for the changing dynamics.  

 

One of the great things about the dental profession is that it is one of the few recession proof models in the economy. Now that doesn't mean that the dental profession doesn't have to change and adapt to the macro economic dynamics, but as long as the dentist is willing to adapt, there is still a very high success rate for the dental office. Fee for service practices are the most vulnerable in a market downturn, but there are still ways to pivot and keep up with the changing conditions.  

 

There is already a massive amount of dental profession disruption happening in the market, and I think the declining macro economic outlook is going to increase the volume of disruption even more. Ultimately, time will tell where the economy is headed and how it effects the dental profession, but the dentist most open to change will be the most successful!