Inflation Now At Lowest Rate Since Early 2021

On a monthly basis, prices were unchanged from July’s increase of 0.2%.

Inflation is now at its lowest rate since the early 2021.

The consumer price index slightly dropped from a 2.9% annual increase in July to 2.5% in August, marking the lowest annual increase since February 2021. It then landed a rate that matched the average seen in 2018.

On a monthly basis, prices were unchanged from July’s increase of 0.2%.

If this continues, Fed officials could begin loosening monetary policy next week by cutting back the central bank’s benchmark rate.