US consumer inflation dips sharply in August, beating expectations

Posted on September 16, 2024   |  

US inflation dropped to 2.5% in August, down from 2.9% in July, the lowest since February 2021.

The Federal Reserve may consider cutting interest rates due to this slower inflation rate.

A rate cut could boost economic demand and provide a positive economic boost for the Democratic party ahead of the 2024 elections.

Core inflation, excluding food and energy, remained at 3.2% annually.

Monthly inflation increased by 0.2% in August, matching expectations after a decline in June.