Latest inflation figures revealed - paving the way for a big change that has not happened in years
Consumer prices were up 2.5 percent from a year earlier in August, according to new data released Wednesday by the Bureau of Labor Statistics, the lowest level since February 2021. This paves the way for the Federal Reserve to cut interest rates at its next meeting on September 18, bringing benchmark borrowing costs down from a 23-year high and providing some relief for households. Following an aggressive hiking campaign, interest rates have been between 5.
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