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What to Expect from Wednesday’s Closely Watched Report On Inflation

September 10, 2024

Federal Reserve Officials Will Scrutinize the Data as They Consider Cutting Interest Rates

by Diccon Hyatt
Investopedia

Household budgets likely got a welcome break in August, with prices falling or staying flat for important items including food and gas, if forecasts of an upcoming inflation report are correct.

The Consumer Price Index (CPI) report Wednesday should show prices rose 2.6% over the year through August, down from a 2.9% annual increase in July, according to a survey of economists by Dow Jones Newswires and The Wall Street Journal.

Falling prices for gas and stable prices for food likely helped keep overall inflation in check, several economists said. If the prediction holds, the annual inflation rate would be a fresh low since March 2021.

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