Inflation has cooled slightly over the last month. The July CPI report came in slightly under analyst expectations.
In June, the Consumer Price Index fell 0.1 percent after remaining unchanged during May. On the year, the Index increased 3 percent while the markets were expecting it to land at 3.1 percent. Food costs rose 0.2 percent along with shelter. Gasoline took the largest fall, declining by 3.8 percent.
While today’s numbers came in below expectations, that does not necessarily mean goods are cheaper. Most prices still remain much higher than historical averages.
