The U.S. annual inflation rate slowed for the fourth consecutive month in July and came in below market forecasts, raising the odds of the Federal Reserve cutting interest rates in September.
According to the Bureau of Labor Statistics (BLS), the consumer price index (CPI) eased to 2.9 percent last month, down from 3 percent in June. The consensus estimate was 3 percent.
On a monthly basis, the CPI rose 0.2 percent, up from the 0.1 percent decline in the previous month. This was in line with market expectations.
Core inflation, which omits the volatile food and energy categories, also slipped to 3.2 percent last month, down from 3.3 percent. The reading matched market estimates.
The core CPI jumped 0.2 percent month-over-month, up from 0.1 percent and mirroring economists’ estimates.
Read Full Article Here
US Inflation Rate Slows to 2.9 Percent as Shelter, Motor Vehicle Insurance Remain High
- by: Andrew Moran
- 2024-08-14
- Source:
The Epoch Times
- 08/14/2024
Young woman in supermarket on Bali island. by Artem Beliaikin is licensed under flickr CC0 1.0 Universal (CC0 1.0) Public Domain Dedication
Young woman in supermarket on Bali island. by Artem Beliaikin is licensed under flickr CC0 1.0 Universal (CC0 1.0) Public Domain Dedication
