US Inflation Dips to 3.4% in July as Energy and Food Prices Cool
Sourced from 6 publications
- •US inflation eased to 3.4% in July from 3.5% in June, matching economist forecasts.
- •Energy prices fell 1.5% month-over-month but remain 14.7% higher year-over-year.
- •Prices are still rising faster than average wages, straining consumer budgets, according to PBS NewsHour.
- •The inflation reading gives neither side of the divided Federal Reserve clear ammunition before its September meeting.
- •Multiple sources suggest a September rate hike is now less likely, though the internal Fed debate remains unresolved.
Sources
Inflation cooled last month as gas prices fell, though costs remain elevated
PBS NewsHour
US consumer inflation slows in July as energy prices briefly retreat
Al Jazeera
Inflation eases in July as gasoline and grocery prices fall
NPR News
Inflation Eased Slightly in July, but Prices Remain Elevated as War Drags On
New York Times
Benign Inflation Data Offers Reprieve to Fed as It Weighs Rate Increase
New York Times
US inflation eases to 3.4% in July as the Fed's September call stays on a knife...
Euronews
US inflation eases as food costs cool
BBC World
Curated from 6 sources. Every summary is reviewed for accuracy, but may still contain errors. We always link to original sources for verification.
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