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mahatmakanejeeves

(60,922 posts)
Wed Aug 14, 2024, 04:28 PM Aug 2024

Cooling July Inflation Sets Stage for Fed's September Rate Cut

Cooling July Inflation Sets Stage for Fed’s September Rate Cut
Data marks the first time the CPI edges firmly below 3% since early 2021

By Sam Goldfarb and Nick Timiraos
sam.goldfarb@wsj.com
https://twitter.com/NickTimiraos
Nick.Timiraos@wsj.com
Updated Aug. 14, 2024 4:30 pm ET

The consumer-price index rose 2.9% in July from a year earlier, the Labor Department said. Photo: Richard B. Levine/Zuma Press
Inflation extended a run of cooler readings in July, sealing the case for the Federal Reserve to cut interest rates at its meeting next month.

The consumer-price index rose 2.9% from a year earlier, the Labor Department said Wednesday, the lowest reading since 2021 and slightly below economists’ expectations of 3%. Core inflation, which excludes volatile food and energy items, was 3.2%, also a three-year low.

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Cooling July Inflation Sets Stage for Fed's September Rate Cut (Original Post) mahatmakanejeeves Aug 2024 OP
Time was Fed wouldn't TOUCH rates 3 months prior to election day. bucolic_frolic Aug 2024 #1
Latest 3 month average, ANNUALIZED: Regular CPI: +0.4%, Core CPI: +1.6%, Core less shelter: 0.0%, Fed Target: +2.0% progree Aug 2024 #2

progree

(11,463 posts)
2. Latest 3 month average, ANNUALIZED: Regular CPI: +0.4%, Core CPI: +1.6%, Core less shelter: 0.0%, Fed Target: +2.0%
Wed Aug 14, 2024, 06:56 PM
Aug 2024
CORE CPI through July that came out 8/14/24
CORE CPI (seasonally adjusted) http://data.bls.gov/timeseries/CUSR0000SA0L1E
BLS CPI news release: https://www.bls.gov/news.release/cpi.nr0.htm



The Regular aka Headline CPI through July that came out 8/14/24 (CPI=Consumer Price Index)
Regular CPI (seasonally adjusted) https://data.bls.gov/timeseries/CUSR0000SA0
BLS CPI news release: https://www.bls.gov/news.release/cpi.nr0.htm



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Other inflation graphs and summary table: Producer Price Index, Personal Consumptions Expenditures Inflation Index, as well as a couple more CPI series

https://www.democraticunderground.com/?com=view_post&forum=1014&pid=3290333
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