The post CPI Data Drops Below 3% For First Time Since March 2021! appeared first on Coinpedia Fintech News
The latest data from the U.S. Bureau of Labor Statistics reveals that July’s Consumer Price Index (CPI) inflation rate has fallen to 2.9%, breaking its forecasted rate of 3%.
With this drop, the U.S. CPI has broken its streak of 39 months with an inflation rate at or above 3% and the fourth consecutive month of declining CPI inflation. Notably, this suggests a potential shift in the environment of the current financial landscape.
Cooling Inflation Trends
The U.S. CPI inflation rate eased to 2.9% in July, down from 3.0% in the previous month, and 3.3% in May. This decline indicates a cooling trend in inflation over the past year.
U.S CPI (MOM) (JUL) ACTUAL: 0.2% VS -0.1% PREVIOUS; EST 0.2%
U.S CPI (YOY) (JUL) ACTUAL: 2.9% VS 3.0% PREVIOUS; EST 3.0%
U.S CORE CPI (MOM) (JUL) ACTUAL: 0.2% VS 0.1% PREVIOUS; EST 0.2%
U.S CORE CPI (YOY) (JUL) ACTUAL: 3.2% VS 3.3% PREV
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