July inflation data suggests things might be cooling off
This represents a second month in a row of tame inflation data.
Get the full scoop on inflation rate through expert analysis, breaking news updates, and essential context from the Morning Brew team.
This represents a second month in a row of tame inflation data.
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 Consumer Price Index rose just .2% in January.
Here’s where things get a little sketchy...
Inflation remaining relatively tame is likely to keep the Fed on track to lower interest rates.
New data is complicating the Fed's interest rate decision.
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