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Annual US inflation falls to 3-year low, clearing the way for the Fed to begin cutting rates (apnews.com)
submitted 3 months ago by MicroWave@lemmy.world to c/economics@lemmy.world
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Year-over-year inflation reached its lowest level in more than three years in July, the latest sign that the worst price spike in four decades is fading and setting up the Federal Reserve for an interest rate cut in September.

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[-] AshMan85@lemmy.world 14 points 3 months ago

Mean while normal people can't afford food.

[-] yggstyle@lemmy.world 6 points 3 months ago

Don't worry they removed that cost metric from the CPI. That and any other metric that might actually be inflationary ๐Ÿ˜…. Don't you feel better though? 2.9% !

[-] yes_this_time@lemmy.world 2 points 3 months ago

CPI inflation is reported higher than 'all items' though...

Grocery is seeing lower inflation. Seems to have come back down to earth.

We need wage growth to continue to outpace inflation like it has been for the past year or so.

[-] yggstyle@lemmy.world 1 points 3 months ago

I'd have to look but I think wage growth is falling again and of course there's the skewed employment statistics that don't factor in people working multiple jobs... You are dead on though. Inflation is sustainable if the rest of the growth is moving along with it ... unfortunately ours isn't resulting in the overheating.

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this post was submitted on 14 Aug 2024
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