US Inflation Slows to 2.9%

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annual core inflation

Trading Economics

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Inflation rate in U.S. falls to 2.9% in July, lowest since March 2021

Summary

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The annual inflation rate in the US slowed for a fourth consecutive month to 2.9% in July 2024 , the lowest since March 2021 , compared to 3% in June and below forecasts of 3% . Inflation eased for shelter ( 5.1% vs 5.2% ) and transportation ( 8.8% vs 9.4% ) and apparel ( 0.2 vs 0.8% ) The monthly core inflation rate also edged up to 0.2% as expected.