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U.S. Inflation Slows Below 3% for First Time Since 2021, Raising Hopes for Economic Boost

Name: U.S. Inflation Slows Below 3% for First Time Since 2021, Raising Hopes for Economic Boost
Uploaded: 2024-08-14T15:30:00-07:00
Channel: NBC Palm Springs
Description: The U.S. Consumer Price Index (CPI) slowed to 2.9% for the 12 months ending in July, marking the first time inflation has fallen below 3% since March 2021, according to the Bureau of Labor Statistics. With inflation appearing under control, economists are optimistic that the Federal Reserve may lower borrowing costs to stimulate job growth.

By: NBC Palm Springs

August 14, 2024

US inflationConsumer Price Index3 milestoneBureau of Labor StatisticsJuly reportFederal Reserveborrowing costsjob growth

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