Inflation Eases Further in July, Paving Way for Fed Interest Rate Cuts

Inflation in the U.S. remained low last month, suggesting the Federal Reserve might cut its key interest rate for the first time in over four years. Prices rose just 0.2% from June to July, up slightly from June's 0.1% increase, while year-over-year inflation held steady at 2.5%. 

Core inflation, which excludes food and energy costs, also remained unchanged from June, rising 0.2% monthly and 2.6% annually. The consistent cooling of inflation could impact former President Trump's criticism of Vice President Kamala Harris over rising prices. However, despite the easing trend, many Americans continue to face high costs for essentials like gas, food, and housing.

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