Inflation Dipped To Three-Year Low Last Month

The Washington Post reports:

Inflation eased again in August, cementing expectations that the Federal Reserve is set to cut interest rates next week for the first time since the pandemic’s early days.

Data released Wednesday by the Bureau of Labor Statistics showed prices climbed 2.5 percent in the 12 months ending in August. That was a noticeable improvement over the 2.9 percent notched in July, in part because of falling gas prices.

Other real-time indicators have shown rents easing considerably, or even falling, in major cities for much of the year.

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Breaking: Inflation cooled to 2.5% last month. It marks a new three-year low and tees up the Fed to begin gradually reducing rates next week. https://t.co/ZLD8MHIAvT https://t.co/ZLD8MHIAvT

— The Wall Street Journal (@WSJ) September 11, 2024