Year-over-year inflation reached its lowest level in more than three years in July, the latest sign that the worst price spike in four decades is fading and setting up the Federal Reserve for an interest rate cut in September.
The AP clearly has no idea how to read charts or infer data. The rate cuts aren’t coming. CPI is still over or target rate of 2% YoY… and we are down a massive (checks notes) .1% from 3% after they mutilated the calculations to get the 3%
It’s not moving. Sticky inflation. Stagnant. Stag-flation if you prefer.
AshMan85@lemmy.world 3 months ago
Mean while normal people can’t afford food.
yggstyle@lemmy.world 3 months ago
Don’t worry they removed that cost metric from the CPI. That and any other metric that might actually be inflationary 😅. Don’t you feel better though? 2.9% !