The July consumer-price index shows an annual inflation rate of 2.9%, slightly below expectations and the smallest increase since March 2021.
Experts say it's unlikely to cause a drop in grocery store prices. If inflation goes down, it means that the rate at which prices increase is slowing down.
Grocery store prices are now almost 25% more expensive than pre-pandemic levels, according to CPI data, stemming from the pandemic and global conflicts.
Economists say that lowered prices, also known as deflation, would be a bad sign for the economy and could lead to a recession.
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