U.S. Inflation Slows to 3.4% in July as Gas Prices Ease
Gasoline and energy prices fell as core inflation cooled to 2.5%, easing pressure on Federal Reserve policymakers before their September meeting.
- On Aug 12, the Labor Department reported consumer prices rose 3.4% in July from a year ago, down slightly from 3.5% in June.
- Lettuce prices plunged more than 16% last month after a recall of iceberg lettuce from Mexico, while falling gasoline and grocery prices offset rising rents and airfares.
- Stripping out volatile food and energy prices, "core inflation" was 2.5% for the 12 months ending in July, down from 2.6% in June.
- Market odds of a September rate hike fell below 40% after Wednesday's report, though gasoline prices remain more than a dollar higher than before the Iran-Strait of Hormuz conflict, according to AAA.
- Easing inflation provides welcome news for the Federal Reserve, which has committed to controlling prices, though policymakers will review another inflation report before gathering next month.
269 Articles
269 Articles
Inflation eased slightly in July, but prices remain elevated as war drags on
Inflation continued to ease last month from its war-driven surge earlier in the year, but prices still remain at a high level as constrained fuel supplies have increased the cost of living. The post Inflation eased slightly in July, but prices remain elevated as war drags on appeared first on Hawaii Tribune-Herald.
The INE data put the government’s economic discourse against the strings again. Inflation rebounded in July to 3.6%, its highest rate since 2024, a new blow to the consumer’s pocket, which are those who end up assuming the cost of price increases. With the data of July, ... Continue reading "Inflation skyrockets to 3.6% in July, its highest level in two years"
The National Institute of Statistics (INE) confirmed this Thursday that the Consumer Price Index (IPC) went up in Spain in a...
It is the highest rate since the one recorded in May 2024, and four tenths higher than the previous three months.
Coverage Details
Bias Distribution
- 50% of the sources are Center
Factuality
To view factuality data please Upgrade to Premium
