July CPI Report: What 2.9% Inflation Means for the U.S. Economy and Future Fed Rate Cuts
CPI Report: What July’s Data Reveals About the U.S. Economy’s Direction Consumer prices in the U.S. rose by 2.9% over the 12 months through July, according to the Labor Department’s latest consumer price index (CPI) report. This moderate increase suggests that the inflation surge that gripped the nation in 2022 is continuing to ease. This…