Inflation eases in July as gasoline and grocery prices fall
Consumer price inflation slowed to 3.4% year-over-year in July, down from the previous two months, driven by declining gasoline and grocery prices. This moderation in inflation reduces the likelihood that the Federal Reserve will raise interest rates in September.
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Inflation eases in July as gasoline and grocery prices fall
Consumer price inflation moderated in July, rising 3.4% annually—a decrease from the previous two months—driven by falling gasoline and grocery prices. This cooling inflation trend reduces the likelihood that the Federal Reserve will implement another interest rate increase at its September meeting.
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