Consumer prices are still rising but they’re rising slower. The government is calling that “inflation easing.” It’s inflation but it’s easier than what it was. Does that make you feel any better?
Prices for consumer products were 3% higher in June of 2024 than they were in June of 2023. That is not good but at least it is lower than the 3.3% that was reported in May.
Experts are hoping that this “easing” will inspire the Federal Reserve to issue its first rate cut since increasing rates over the last two years. Consumers may not like hearing that their bills are 3% higher but the stock market did. The Dow Jones was up on this news.
