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 rate next month for the first time in 4 1/2 years
Shoppers consider items displayed in refrigerators at a Costco warehouse Aug. 22, 2024, in Parker, Colo. 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 0.1% increase. Compared with a year earlier, inflation was unchanged at 2.5%.
Friday’s figures underscore that inflation is steadily fading in the United States after three painful years of surging prices hammered many families’ finances. According to the measure reported Friday, inflation peaked at 7.1% in June 2022, the highest in four decades, before steadily dropping.
Friday's report also showed that healthy consumer spending continues to power the U.S. economy. Americans stepped up their spending by a vigorous 0.5% from June to July, up from 0.3% the previous month.
Business U.S. News General News Washington News Article 113269396
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Federal Reserve's favored inflation gauge shows price pressures easing as rate cuts nearA key inflation measure remained low last month, extending a trend of cooling price increases that clears the way for the Fed to start cutting its key interest rate next month.
Read more »
Federal Reserve’s favored inflation gauge shows price pressures easing as rate cuts nearBy 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 …
Read more »
Federal Reserve’s favored inflation gauge shows price pressures easing as rate cuts nearWASHINGTON (AP) — An inflation measure closely tracked by the Federal Reserve remained low last month, extending a trend of cooling price increases that
Read more »
Federal Reserve's favored inflation gauge shows price pressures easing as rate cuts nearAn 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 rate next month for the first time in 4 1/2 years.
Read more »
Federal Reserve's favored inflation gauge shows price pressures easing as rate cuts nearAn 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 rate next month for the first time in 4 1/2 years. Prices rose just 0.2% from June to July, up a tick from the previous month’s 0.1% increase.
Read more »
Federal Reserve's favored inflation gauge shows price pressures easing as rate cuts nearAn 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 rate next month for the first time in 4 1/2 years.
Read more »