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Economic Pulse: Week of 8/16/24

Inflation is below 3%.

According to the Bureau of Labor Statistics, the seasonally adjusted consumer price index (CPI) rose by two-tenth of 1% in July, dropping the inflation rate over the last 12 months to 2.9%. This is the first time inflation has been below 3% in more than 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.

Click here for the latest Lehigh Valley Economic Review.

Listen to Economic Pulse Fridays at 5:44 PM during All Things Considered; Mondays at 7:30 AM during Morning Edition.

(Original air-date: 8/16/24)

Dr. Kamran Afshar has a Ph.D. in Economics and has taught at graduate and under graduate levels between 1978-88. He has vast experience in economic impact studies, feasibility studies, customer satisfaction surveys, and scientific competitive analysis.
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