As we suspected here at investorAi and were pleased to see confirmed the most anticipated report on US inflation (before the September 2024 Fed Meeting on Interest rates) showed consumer price increases declined on an annual basis during August 2024 to hit a new three-year low.
In August, the Consumer Price Index (CPI) rose 2.5% compared to the previous year, marking a slowdown from July’s 2.9% annual increase and representing the lowest annual inflation rate since early 2021. This increase aligned with economists' forecasts.
Month-over-month, the CPI saw a 0.2% rise, identical to July's increase and in line with expectations.
On a "core" basis, which excludes the more volatile categories of food and energy, prices increased 0.3% from the prior month and 3.2% year-over-year in August. In July, core prices rose by 0.2% month-over-month and 3.2% on an annual basis.
While inflation has moderated, it continues to exceed the Federal Reserve's 2% target. H ...
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