If the Federal Reserve needs any further evidence that the worst price spike in four decades is steadily easing, it’s likely to come Wednesday, when the government is expected to report that inflation cooled further last month. Consumer prices are thought to have risen just 0.
FILE - Elise Lacroix, owner of Stop & Go in Brattleboro, Vt., changes the oil on a vehicle at her shop on July 15, 2024. FILE - People ride on the Mamba roller coaster at Worlds of Fun theme park as storm clouds build in the distance on June 21, 2024, in Kansas City, Mo. FILE - James Pratt, head cashier at Phantom Fireworks in Hinsdale, N.H., helps bag a customer’s order on June 28, 2024. FILE - Elise Lacroix, owner of Stop & Go in Brattleboro, Vt.
Grocery prices are expected to have been largely unchanged from June to July, according to economists at UBS. Over the past year, food prices are up just 1.1%. Still, food costs have soared roughly 21% in the past three years, squeezing many family budgets.additional evidence of slowing inflation before the Fed begins cutting its key interest rate. Economists widely expect the Fed’s first rate cut to occur in mid-September.
“It’s just a question of seeing more good data,” Powell said. Another inflation report will be issued next month before the Fed’s Sept. 17-18 meeting, with economists expecting that report to also show that price increases remained mostly tame. Inflation has eased substantially in the past two years as global supply chains have been repaired, a spate of apartment construction in many large cities has cooled rental costs and higher interest rates have slowed auto sales, forcing dealers to offer better deals to potential car buyers., forgoing high-priced items or shifting to cheaper alternatives. This has forced many companies to rein in price hikes or even offer lower prices.
Federal Reserve System General News Finance Business W Washington News U.S. News Business Atlanta Washington News U.S. News
Norge Siste Nytt, Norge Overskrifter
Similar News:Du kan også lese nyheter som ligner på denne som vi har samlet inn fra andre nyhetskilder.
Text of the policy statement the Federal Reserve released WednesdayWASHINGTON (AP) — Below is the statement the Federal Reserve released Wednesday after its latest policy meeting ended:
Les mer »
Powell says Federal Reserve is more confident inflation is slowing to its targetChair Jerome Powell said the Federal Reserve is becoming more convinced that inflation is headed back to its 2% target and said the Fed would cut rates before the pace of price increases actually reached that point.
Les mer »
Powell says Federal Reserve is more confident inflation is slowing to its targetChair Jerome Powell said the Federal Reserve is becoming more convinced that inflation is headed back to its 2% target and said the Fed would cut rates before the pace of price increases actually reached that point.
Les mer »
Powell says Federal Reserve is more confident inflation is slowing to its targetWASHINGTON (AP) — Chair Jerome Powell said Monday that the Federal Reserve is becoming more convinced that inflation is headed back to its 2% target and
Les mer »
Powell says Federal Reserve is more confident inflation is slowing to its targetChair Jerome Powell said the Federal Reserve is becoming more convinced that inflation is headed back to its 2% target and said the Fed would cut rates before the pace of price increases actually reached that point.
Les mer »
Powell says Federal Reserve is more confident inflation is slowing to its targetChair Jerome Powell said Monday that the Federal Reserve is becoming more convinced that inflation is headed back to its 2% target and said the Fed would cut ra
Les mer »