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US Inflation Cooling as Consumer Prices Rise Moderately Again

Moderate inflation, together with a cooling labour market, bolstered economists’ conviction that the US central bank will be able to engineer a “soft landing” for the economy after a year of hand-wringing about a recession.
Consumers are spending more as pandemic restrictions ease.
US consumer prices increased moderately in July as higher rents were mostly offset by declining costs of goods such as motor vehicles and furniture. (Shutterstock)

US consumer prices increased moderately in July as higher rents were mostly offset by declining costs of goods such as motor vehicles and furniture, a trend that could persuade the Federal Reserve to leave interest rates unchanged next month.

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