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July CPI meets expectations, inflation eases: Will the expected cuts be significant?
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Here's the Breakdown for US July CPI, in One Chart

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In One Chart joined discussion · 4 hours ago
In July 2024, the US annual inflation rate continued its downward trend for the fourth month in a row, reaching 2.9% — a level not seen since March 2021 and a slight decrease from June's 3%. Month-over-month, the CPI saw a 0.2% increase, aligning with predictions. This rise was primarily driven by the shelter index, which went up by 0.4% and contributed to nearly 90% of the overall monthly increase in inflation.
Core inflation, which excludes volatile food and energy prices, also experienced a deceleration for the fourth consecutive month, dropping to 3.2%, the lowest rate since April 2021, from 3.3% in the preceding month. Additionally, the rate of monthly core inflation rose modestly to 0.2%, up from 0.1%.
Here's the Breakdown for US July CPI, in One Chart
Food costs were up 2.2% compared with one year ago, consistent with last month.
Energy costs increased by 1.1% YoY, after increasing by 1.0% YoY in June.
Used cars and trucks prices decreased by 10.9% YoY, after decreasing by 10.1% last month.
Shelter costs were up 5.1% compared with one year ago, after increasing by 5.2% YoY last month.
By Moomoo North America Team Calvin
Disclaimer: Moomoo Technologies Inc. is providing this content for information and educational use only. Read more
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