Reality:
Reporting from New York
The numbers are out! Consumer prices rose 0.2 percent in July and were up 2.9 percent from a year earlier. “Core” prices, excluding food and fuel, were up 0.2 percent on a monthly basis, and 3.2 percent from a year ago.
Reporting from New York
This is the first time that overall inflation, measured on a year-over-year basis, has come in below 3 percent since March of 2021.
Biden and Harris will almost certainly celebrate that milestone, Ben. They will also be happy that this report appears to be keeping the Fed on track for a rate cut next month.
