Prices rose at an annual rate of 2.9% in July, as inflation dipped below 3% for the first time since 2021US annual inflation rate dipped below 3% in July for the first time since 2021, a relief to investors who are expecting the Federal Reserve to cut interest rates next month as a sense of unease has settled over Wall Street after signs of a cooling labor market.Prices rose at an annual rate of 2.9% in July while core inflation, which does not account for the volatile food and energy industries, climbed 3.2% over the previous 12 months and 0.2% since June. Continue reading…
Source link : https://www.theguardian.com/business/article/2024/aug/14/us-july-inflation-interest-rates
Author : Lauren Aratani in New York
Publish date : 2024-08-14 13:14:32
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