Key U.S. inflation gauge shows prices cooled in August, raising likelihood of more rate cuts
CBSN
The Federal Reserve's preferred inflation measure on Friday provided the latest sign that price pressures are easing, a trend that is expected to fuel further Fed interest rate cuts this year and next.
Prices rose just 0.1% from July to August, the Commerce Department said, down from the previous month's 0.2% increase. Compared with a year earlier, inflation fell to 2.2%, down from 2.5% in July and barely above the Fed's 2% inflation target.
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