Reported 28 days ago
According to the Bureau of Labor Statistics, US consumer prices rose by 2.5% annually in August 2024, marking the slowest increase since early 2021, down from 2.9% in July. While core inflation remains above the Federal Reserve's target, recent economic indicators suggest an imminent rate cut may happen by the Fed's next policy meeting. The report highlights persistent inflation in shelter and food prices, which may complicate the Fed's decision on the extent of rate cuts.
Source: YAHOO