In July, US inflation decreased to 2.9% year-over-year, marking the first month-over-month decrease in 4 years.
In July, US inflation hit its lowest level in over three years, decreasing to 2.9% year-over-year. This marks the first time in four years that prices experienced a month-over-month decrease, with consumer prices rising 0.2% from June to July. The Federal Reserve may consider cutting interest rates as early as September due to the low inflation rate, which could have political implications as former President Donald Trump has criticized the Biden administration's handling of inflation. The inflation slowdown may also impact the presidential campaign.
August 14, 2024
533 Articles