The annual inflation rate in the U.S. saw a decline to 2.5% in August, the lowest level in three years, impacting the Federal Reserve's interest rate decisions.
Incomes have outpaced inflation for around 18 months, with a recent Census Bureau report showing a 4% rise in median inflation-adjusted household income last year.
Economists highlight that core prices, which rose 3.2% year-over-year, provide a more accurate forecast of future inflation trends, reflecting ongoing economic adjustments.
Amidst these trends, the recent presidential debate sparked political commentary on inflation's impact, with former President Trump emphasizing the cost increases occurring after the current administration's arrival.
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