July CPI shows inflation easing to 3.4% as energy and food costs drift lower
TL;DR Summary
U.S. inflation cooled to 3.4% in July as gas and grocery prices eased, with the CPI up 0.1% month over month. Shelter costs rose just 0.1% and food prices fell 0.1%, while the core CPI increased 0.2% to an annual 2.5%. Despite the cooler readings, economists warn price pressures persist in services and energy, and a softer inflation backdrop could influence Fed rate expectations, which fell to about a 38% probability of a September hike as stocks nudged higher.
- US annual inflation cooled to 3.4% in July as gas prices ease CNN
- Inflation relief's staying power is in question Axios
- In-Line Inflation Reading Buys the Fed More Time to Defend Its Forecast WSJ
- Consumer prices rose 0.1% in July, as expected, putting the annual rate at 3.4% CNBC
- CPI Report Live Updates: Inflation Data Shows Consumer Prices Rose 3.4 Percent From a Year Ago The New York Times
Reading Insights
Total Reads
0
Unique Readers
4
Time Saved
335 min
vs 336 min read
Condensed
100%
67,160 → 79 words
Want the full story? Read the original article
Read on CNN