The increase in prices has slowed in the United States, but inflation is still close to the record

The figure is smaller than expected, but still close to a record. According to analyses, the stagnant increase in inflation was caused by the sharp drop in fuel prices in July, and experts hope that the inflation of over 9 percent a month earlier was the peak, and that the rate of price increase will begin to moderate from here.

Comerica Bank Chief Economist Bill Adams told CNN that annualized inflation may have peaked. Peter Earle, an expert at the American Institute for Economic Research, told Fox news television that the road will be long and a lot can still happen before the central bank’s annual inflation target of 1.5-2.5 percent is reached.

Within July’s inflation, energy costs decreased by 4.6 percent on a monthly basis, but were still 32.9 percent higher than a year earlier. Fuel prices fell by 7.7 percent in July compared to June, but are still 44 percent higher than in July 2021. The rise in food prices continued in July in a monthly comparison; They were 1.1 percent more expensive, while they rose by 10.9 percent in one year, which is the highest value since May 1979.

MTI