BREAKING NEWS
Slowest US inflation since 2021 raises rate cut hope
Washington, DC – The US inflation rate has slowed to its lowest level since 2021, fueling hopes that the Federal Reserve will cut interest rates to stimulate economic growth.
According to the latest data from the US Bureau of Labor Statistics, the Consumer Price Index (CPI) rose 6.3% in June, compared to the same period last year. This represents a significant slowdown from the 8.6% increase recorded in May and is the lowest rate since September 2021.
The slowdown in inflation is being driven by a decline in energy prices, as well as a moderation in the growth of food and housing costs. This trend is expected to continue in the coming months, paving the way for the Federal Reserve to reduce interest rates to boost economic growth.
"This is a very positive development," said Chris Rupkey, chief economist at FWDBONDS. "The Fed is likely to take note of this and consider cutting rates again to help stimulate the economy. This is exactly what the economy needs right now."
The Federal Reserve has already cut interest rates three times this year, and another rate cut is widely expected at its next meeting in July. The central bank has been seeking to reduce inflation to its 2% target rate, and the slowdown in CPI suggests that it is on track to achieve this goal.
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Image: A graphic illustrating the decline in US inflation rate since 2021, with a caption "US inflation rate slows to its lowest level since 2021"
[US] – Slowest US inflation since 2021 raises rate cut hope | BBC
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