Inflation & interest rates
According to the Bureau of Labor Statistics, the seasonally adjusted consumer price index (CPI) rose by two-tenth of 1% in August, dropping the inflation rate over the last 12 months to 2.5%. This is the 2nd month in a row when inflation has been below 3% in over three years. It is important to note that this does not mean prices are decreasing; the last calendar year with negative inflation was 1954, and that was not a good year as the economy was in a recession part of that year.
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Listen to Economic Pulse Fridays at 5:44 PM during All Things Considered; Mondays at 7:30 AM during Morning Edition.
(Original air-date: 9/20/24)