Summary:
After three years of rising prices, Americans got good news as the June CPI eased to 3% thanks to falling gas and car prices.
US CPI Jul
14/8/2024 (Wed)
Previous: 3% Forecast: 3%
Americans weighed down by fast-rising prices for three years just received more encouraging news on the inflation front. CPI growth in June eased to 3% due to a drop in gas prices and car prices.
The core reading rose 0.1% from May — its slowest pace since August 2021. A sign of progress in shelter costs was particularly encouraging as the critical area has been the largest contributor to the price pressures.
Economists reckon a slight pickup is due after June’s surprisingly low reading but that alone may not enough to derail the Fed from a widely anticipated rate cut next month.
Disclaimer: This material is for general information purposes only and is not intended as (and should not be considered to be) financial, investment or other advice on which reliance should be placed. No opinion given in the material constitutes a recommendation by EBC or the author that any particular investment, security, transaction or investment strategy is suitable for any specific person.
U.S. consumer spending rose slightly in April as tariff changes increased economic uncertainty and households boosted savings.
2025-06-27
Australia's economic growth slows, with May consumer prices at a three-and-a-half-year low and rate cut expectations rising.
2025-06-27
Oil was set to trim gains as Middle East risks eased, but prices rose Friday due to higher US fuel demand during the summer driving season.
2025-06-27
