US July inflation down from 3% to 2.9% - Breaking The News

US July inflation down from 3% to 2.9%

14 August

1 min read

EPA-EFE/ALLISON DINNER

The annual inflation rate in the United States for July 2024 came in at 2.9%, reaching its lowest level since March 2021, the Bureau of Labor Statistics said in its report published on Wednesday. The figure stood slightly lower than analysts predicted.

Compared to the previous month, the Consumer Price Index (CPI) rose by 0.2% on a seasonally adjusted level. The index for food advanced by 0.2% month-on-month and 2.2% year-on-year. The figure for energy remained unchanged from June and increased by 1.1% over twelve months.

The core inflation, which excludes food and energy, saw a monthly rise of 0.2% and an annual one of 3.2%.

inflation data cpi

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