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 Oil Prices Reach 8-Week Highs: U.S. Stockpile Drop and China's Stimulus Fuel Surge READ MORE Central Banks Hedge Against the Dollar, Turning to Gold in a Strategic Shift READ MORE Goldman Sachs: Gold is the Best Investment Right Now READ MORE Uganda Joins African Gold Rush to Stabilize Currency and Boost Reserves READ MORE As Gold Hits $2,500, All Eyes Turn to Fed's Next Move READ MORE Add a Comment Cancel replyYour email address will not be published.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