Interannual inflation in the US stood at 2.9 % in July
In the month of July, interannual inflation in the United States fell one tenth to stand at 2.9 %
Interannual inflation in the United States fell one tenth in the month of July, standing at 2.9 %; the lowest figure since 2021.
The record implies a slowdown compared to the previous data according to records from the Bureau of Labor Statistics of the Department of Labor, which also publishes the “underlying index, which excludes food and energy prices from its calculation due to their greater volatility, closed the seventh month of 2024 with an increase of 3.2 % one tenth less and the lowest mark since April 2021.”
In the details of the prices with the greatest variation, an increase in food prices of 2.2 % year-on-year is observed, “while energy was 1.1 % more expensive in July than twelve months before.”
The statistics for the month of July could contribute to the “normalization of monetary policy by the United States Federal Reserve (Fed), since it points to a containment of inflation, although the variable preferred by the Fed to monitor The cost of living is the personal consumption expenditure (PCE) price index.”
The Fed, which decided to keep interest rates between 5.25 % and 5.5 %, the highest since January 2001, will continue to evaluate the outlook and risks, with confidence that inflation will reach a sustained level towards 2 %.
M.Pino
Source: americaeconomia
(Reference image source: Frederick Warren in Unsplash)
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