Consumer Prices Cool: Inflation Hits 2.9% in Latest Report The latest Consumer Price Index (CPI) report shows that inflation in the United States has unexpectedly cooled to an annual rate of 2.9% in July 2024, down from 3% in June. This decrease in inflation is seen as a positive sign for the economy, potentially supporting the case for the Federal Reserve to consider rate cuts in the near future. The core CPI, which excludes volatile food and energy prices, rose by 3.2% year-over-year, aligning with economists’ forecasts. This data suggests that the Fed’s efforts to control inflation may be yielding results, though the central bank will likely continue to monitor economic indicators closely before making any significant policy changes. « Previous Article Next Article » Share This Article Choose Your Platform: Facebook Twitter Google Plus Linkedin Related Posts MetalsDaily – We need to talk about China… READ MORE Global IT Outage Causes Financial Chaos and Delays READ MORE Fed Officials Debate Future of Goods Price Declines Amid Inflation Fight READ MORE Powell Hints at September Rate Reduction if Inflation Eases READ MORE Chinese Consumers Cool on Gold — Central Bank Demand Remains Strong READ MORE Add a Comment Cancel replyYour email address will not be published. Required fields are marked *Name * Email * Save my name, email, and website in this browser for the next time I comment. Comment