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 Record-Breaking Rally: Gold Prices Soar on Economic Easing and Safe-Haven Demand READ MORE 3,000-Year-Old Phoenician Gold Artifact Discovered in Jerusalem READ MORE Trade Tensions Rise: India Slaps Tariffs on Chinese and Vietnamese Steel READ MORE What Does the Red Sea Disruption Mean for Europe's Economy? READ MORE Your Ultimate Guide to the Gold Market READ MORE Add a Comment Cancel replyYour email address will not be published.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