Inflation trends and their impact on the economy

The US is experiencing two interesting trends in inflation: certain states, like Florida, have an inflation problem due to rising insurance premiums, while large parts of the US have inflation at or below 2%. This suggests a lack of price stickiness. Additionally, the middle-income consumers, especially in the face, have been experiencing lower inflation than the headline numbers, giving them more spending power. These trends indicate a relatively benign macroeconomic scenario for most developed economies in 2024.