The post Should we all brace for the incoming U.S. inflation data? appeared on BitcoinEthereumNews.com.

The countdown has begun. Next week, the U.S. will drop its latest inflation data, and everyone in the market is holding their breath. Inflation is always a hot topic, but right now, it’s even hotter.  After months of data showing a mixed bag of numbers, the stakes are high. So, what’s really going on with inflation in the U.S.? In June, it cooled down a bit, hitting 3.0% annually. That’s a drop from the 3.3% we saw in May. Sure, it’s not a massive decline, but it’s a step in the right direction.  What’s more interesting is the monthly rate for June, which actually dipped by -0.1%. That means, overall, prices didn’t just stop climbing—they fell a bit. It’s a small victory, but in this economic climate, even the smallest win matters. Federal Reserve Chair Jerome Powell Inflation breakdown: What’s moving, what’s not Let’s break down the numbers. The core inflation rate—where they strip out the wild swings in food and energy—went up by 3.3% over the past year. That’s the smallest increase in core inflation since April 2021.  Why does this matter? Because it might mean that the underlying pressure pushing prices up is easing.  Energy prices, for example, are finally chilling out. In June, energy inflation was only 1%, a big drop from 3.7% in May.  What caused this? A drop in gasoline prices, which fell by 2.5%. Less pain at the pump is always good news. On the flip side, food inflation is starting to creep up again, moving from 2.1% in May to 2.2% in June. It’s not a huge jump, but it’s enough to make you notice when you’re at the grocery store.  Meanwhile, shelter and transportation costs are finally easing up too. Shelter inflation dipped from 5.4% to 5.2%, and transportation dropped from 10.5%…

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Filed under: News - @ August 11, 2024 8:12 pm