Inflation slowed in July, with the Consumer Price Index (CPI) rising 0.2%, the same as in June.
Core inflation, which excludes volatile food and energy prices, also increased just 0.2% in both months.
This is good news for the Federal Reserve, which is trying to cool inflation without causing a recession.
The Fed may be close to pausing interest-rate increases after raising them at 11 of the past 12 central bank meetings.
Prices for housing, used cars, and hotel and flight tickets all declined in July.
However, energy prices rose by a slight 0.1%, which could put upward pressure on inflation in coming months.
Overall, inflation is still high, but it is starting to cool. This is good news for consumers, but it remains to be seen whether the Fed can engineer a soft landing for the economy.
Share this article:
More in QQQTrades.Club:
The U.S. 10-Year Treasury Yield, a significant indicator in the financial markets, has reached a pinnacle, marking its highest level since 2007.
The U.S. 10-Year Treasury Yield, a significant indicator in the financial markets, has reached a pinnacle, marking its highest level...
September 21, 2023
Will he keep raising?
Will he keep raising? The Federal Reserve’s decisions on interest rates have far-reaching implications for the economy and individual financial...
September 20, 2023
Inflation fighting stock idea below.
Inflation fighting stock idea below. Peter Zeihan has been calling for the collapse of China since his latest book, “The...
September 19, 2023
In the world of economics, the notion of a "soft landing" has often been treated as a holy grail – an ideal scenario where inflation is tamed, and the economy continues to grow without the dark cloud of recession looming overhead. However, while the majority seems to be banking on a soft landing in 2023, a contrarian perspective might suggest that such optimism is misguided and overly reliant on hope rather than a realistic assessment of the challenges ahead.
In the world of economics, the notion of a “soft landing” has often been treated as a holy grail –...
September 18, 2023