U.S. Inflation Eases in August
12 thg 9, 2024
U.S. inflation eased in August, laying the groundwork for the Federal Reserve (Fed) to lower interest rates.
According to a report from the U.S. Department of Labor, the Consumer Price Index (CPI) increased by 0.2% month-over-month in August 2024. Year-over-year, CPI rose 2.5%, a decrease of 0.4 percentage points from July and lower than the forecasted increase of 2.6%.
Core CPI, which excludes volatile food and energy prices, rose by 0.3% in the month, slightly higher than the estimated 0.2%. Core CPI increased 3.2% year-over-year, in line with forecasts.
Traders estimate an 85% chance that the Fed will cut interest rates by 0.25 percentage points, or 25 basis points, at the September meeting, according to CME Group's FedWatch tool.
Source:
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