BBC on Nostr: US inflation cools to slowest pace since March 2021 ========== Consumer prices in the ...
US inflation cools to slowest pace since March 2021
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Consumer prices in the US rose 2.9% over the 12 months to July, the smallest annual increase since March 2021 and down from 3% in June, according to the Labor Department. The slower pace of inflation was driven by lower housing, food, and car insurance costs. The Federal Reserve is expected to cut interest rates at its next meeting as evidence of cooling price increases emerges. The central bank has kept its key lending rate at 5.3% since July 2023 to discourage borrowing and cool demand pressures. However, inflation has started to move closer to the Fed's 2% target rate, prompting calls for rate cuts.
https://www.bbc.com/news/articles/cwy3wy522dyo
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Consumer prices in the US rose 2.9% over the 12 months to July, the smallest annual increase since March 2021 and down from 3% in June, according to the Labor Department. The slower pace of inflation was driven by lower housing, food, and car insurance costs. The Federal Reserve is expected to cut interest rates at its next meeting as evidence of cooling price increases emerges. The central bank has kept its key lending rate at 5.3% since July 2023 to discourage borrowing and cool demand pressures. However, inflation has started to move closer to the Fed's 2% target rate, prompting calls for rate cuts.
https://www.bbc.com/news/articles/cwy3wy522dyo