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0% inflation is nice, but this number from today’s CPI report is even more encouraging

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10.08.2022

Wednesday finally brought Americans some good news on the inflation front. The Labor Department reported that consumer prices rose 0% for the month of July, perhaps the best indicator yet that inflation may have peaked.

That means consumer prices were unchanged for the month of July. Overall, inflation remains high—up 8.5% over the past year. But that’s now down from a 40-year high of 9.1% in June. June’s record was in large part owing to soaring gas prices, so their rapid decline of late is what many analysts are pointing to in order to explain July’s Consumer Price Index goose egg. However, because gas prices have now been falling for 57 straight days, economists........

© Fast Company


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