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Richmond Fed president Tom Barkin said Friday that he expects inflation will continue to drop into next year — stickier inflation data aside — and hinted at slowing down the pace of rate cuts.
Inflation rates have dramatically fallen since they topped 9% in June 2022. The current annual inflation rate is 2.5%, the lowest it's been since February 2021. That's a significant drop; however,...
Is inflation expected to go down? Inflation slowed through much of last year – falling as low as 2.4% from a 40-year high of 9.1% in mid-2022 – but it has remained stubbornly high since fall.
That’s an even larger share than the near 2-in-5 (or 41 percent) who expected slowing inflation to take that long in the prior-quarter poll. About 1 in 5 economists (or 20 percent) see inflation ...
While economic growth is slowing, the inflation outlook remains muddled by factors such as: ... Core CPI (excluding food & energy) is expected at 3.1% YoY, down from 3.2% in December.
“It takes time for all of the rate hikes that we’ve seen over the past year to really filter into the economy and slow things down — slow inflation, slow growth, and especially slow job ...
On Tuesday, President Joe Biden hailed the progress on inflation, as it’s now down nearly two-thirds from its peak of 9.1% in June 2022.
But in recent months, inflation has shown signs of cooling. In June, the rate of inflation fell 0.1%, marking the lowest monthly growth rate since May 2020 and a two-thirds decrease from June 2022.