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inflation trendsCNBC
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90% Informative
Consumer price index rises 2.9% in July 2024 from a year earlier .
That figure is down from 3% in June and the lowest reading since March 2021 .
Inflation for consumer staples has eased considerably, economists say.
"Mission accomplished, in my view," Moody's chief economist Mark Zandi says.
Goods inflation has largely normalized, while the services sector is a fly in the ointment, economists said.
Services inflation should ease further due to a slacker job market and declining wage growth.
High interest rates have also reduced overall inflation by reducing demand, Seydl said.
VR Score
96
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98
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3
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