By CHRISTOPHER RUGABER WASHINGTON (AP) — An inflation measure closely tracked by the Federal Reserve remained low last month, extending a trend of cooling price increases that clears the way …
FILE – People shop at a Walmart Superstore in Secaucus, New Jersey, July 11, 2024. FILE – People shop at a Walmart Superstore in Secaucus, New Jersey, July 11, 2024. WASHINGTON — An inflation measure closely tracked by the Federal Reserve remained low last month, extending a trend of cooling price increases that clears the way for the Fed to start cutting its key interest ratePrices rose just 0.2% from June to July, the Commerce Department said Friday, up a tick from the previous month’s 0.
Excluding volatile food and energy costs, so-called core inflation rose 0.2% from June to July, the same as in the previous month. Measured from a year earlier, core prices increased 2.6%, also unchanged from the previous year. Economists closely watch core prices, which typically provide a better read of future inflation trends.
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