Price growth in the US is now at its lowest since February 2021, as inflation fades and the Federal Reserve prepares to cut interest rates for the first time since the pandemic.
The consumer price index rose at an annual rate of 2.5% in August, falling from 2.9% in July and undercutting the 2.6% expected by economists, while core CPI also surprised with a 0.3% rise.
With the economy at a crossroads and inflation concerns fading, the Fed aims to achieve a soft landing while avoiding recession, amidst ongoing challenges for American consumers.
Fed Chair Jerome Powell emphasized that inflation is now on a sustainable path back to normal levels, indicating a potential shift in monetary policy as rates begin to be cut.
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