Inflation slowed in the United States in July

By: Trademagazin Date: 2024. 08. 14. 09:52

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In July, inflation and core inflation in the United States slowed down as expected, according to the U.S. Department of Labor’s statistical institute in Washington. Based on Wednesday’s report from the Bureau of Labor Statistics.

On an annual basis, the consumer price index (inflation) rose by 2.9 percent in July after the 3.0 percent annual price increase in June. For July, the experts expected a price increase of 3.0 percent, the same as in June. July’s 2.9 percent is the smallest increase in the consumer price index since March 2021.

The increase in the consumer price index excluding food and energy prices, i.e. core inflation, decreased to 3.2 percent in July from 3.3 percent in June. Core inflation fell for the fourth consecutive month in July and reached its lowest level since April 2021.

In July, seasonally adjusted, the consumer price index rose by 0.2 percent compared to the previous month, as expected, after a monthly decrease of 0.1 percent in June.

Monthly core inflation increased to 0.2 percent in July from 0.1 percent in June. Monthly core inflation in June was the lowest since February 2021.