Inflation milestone: Consumer Price Index slows below 3% for first time since March 2021
CNN
Price hikes slowed more than expected in July, and, for the first time in more than three years, the Consumer Price Index has landed below 3%.
Price hikes slowed more than expected in July, and, for the first time in more than three years, the Consumer Price Index has landed below 3%. Consumer prices rose 2.9% for the 12 months ended in July, slowing from June’s 3% annual gain, according to the Bureau of Labor Statistics’ latest CPI report released Wednesday. On a monthly basis, prices rose 0.2% after posting a 0.1% decline the month before. Economists were expecting a 0.2% monthly increase and an annual rise of 3%, according to Fact Set consensus estimates. This story is developing and will be updated.
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