July inflation data suggests things might be cooling off
This represents a second month in a row of tame inflation data.
Understand the trends and market shifts shaping inflation, prices & cost of living today with our comprehensive reporting and expert commentary.
This represents a second month in a row of tame inflation data.
The recent drop suggests that prolonged inflation has finally forced shoppers to make changes to their shopping trips.
People are getting priced out of amusing themselves inside their houses.
The company blamed soaring memory and storage chip costs.
Inflation for May reached 4.2%, the highest level since April 2023, with the energy crisis stemming from the Iran war driving up the cost of gas.
Annual wage growth slowed to 3.6% last month, while year-over-year inflation hit 3.8%.
The EPA also loosened regulations that require a cleaner blend of summertime gasoline.
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