Inflation Cools to Lowest Level Since March 2021

By Felix Richter – Statista

Little more than a week after fears of a broader economic downturn caused turmoil on the stock market, the latest inflation data, released on Wednesday, helped calm the nerves of investors unsettled by the latest turbulence. According to the Bureau of Labor Statistics, the Consumer Price Index for All Urban Consumers (CPI-U) increased 2.9 percent over the last 12 months before seasonal adjustment – down from 3.0 percent in June and the lowest reading since March 2021. Meanwhile core inflation, which excludes volatile food and energy prices, came in at 3.2 percent in July, which is the lowest level recorded since April 2021.