Inflation in the United States declines in June, Fed rate cut hopes likely in September

US Inflation Data: There may soon be relief from expensive loans in America. The US Central Bank Federal Reserve may start reducing interest rates. Inflation rate has declined in the US in June 2024. The Consumer Price Index has decreased by 0.1 percent in the month of June, whereas there was no change in it in May 2024.

The Bureau of the US Labor Department has released the inflation rate data. For the third consecutive month, the inflation rate in the US has seen a decline in June. The Consumer Price Index has decreased by 0.1 percent from May to June. Whereas in the previous month the Consumer Price Index was flat. Compared to the previous 12 months, prices have increased by 3 percent in June, which is less than the 3.3 percent in May. That is, the pace of increase in the inflation rate has slowed down.

After this inflation rate figure, the confidence among the policy makers of the Federal Bank will increase that the inflation rate is moving towards the target of 2 percent. When the inflation rate increased earlier this year, the possibilities of reduction in interest rates were jolted. Interest rates in the US are at a 23-year high. It is believed that if the inflation rate decreases in the coming months, the Federal Reserve may reduce interest rates in September 2024.

However, even though the inflation rate has come down, food items, rent, healthcare and other essential items have become costlier than the pre-Corona period, the brunt of which the Biden government may have to face in the US elections. Earlier, Fed Chairman Jerome Powell had said that the pace of inflation is slowing down and it is coming to the central bank's target of 2 percent.

Despite the decrease in inflation rate in America, the stock market is witnessing a mixed trend. Dow Jones is trading with a gain of 0.11 percent, Nasdaq is trading with a loss of 0.83 percent and S&P 500 is trading with a loss of 0.32 percent.

read this also

Reliance Jio: Mukesh Ambani's Reliance Jio will be listed in 2025, Jefferies said – 15% jump in RIL stock is possible

FM Nirmala Sitharaman to present Economic Survey 2024 ahead of union budget know details

FM Nirmala Sitharaman to present Economic Survey 2024 ahead of union budget know details

Economic Survey 2024: The wait for the first budget of the third term of the Modi government is now about ...
Inside Adam Levine and Behati Prinsloo’s 10th Wedding Anniversary Party in Mexico

Inside Adam Levine and Behati Prinsloo’s 10th Wedding Anniversary Party in Mexico

Adam Levine and Behati Prinsloo are marking 10 years of marriage back where it all began. On Saturday, July 20, ...
BCCI announces Rs 8 crore to IOA for Paris Olympics 2024, Jai Shah

BCCI announces Rs 8 crore to IOA for Paris Olympics 2024, Jai Shah

BCCI Paris Olympics 2024: Paris Olympics 2024 is starting from 24th July. Just before this, the Board of Control for ...
Bettle Midler Gives Update ‘First Wives Club’ Reunion Movie (Exclusive)

Bettle Midler Gives Update ‘First Wives Club’ Reunion Movie (Exclusive)

The First Wives Club sadly never got a sequel, but the movie’s stars — Bette Midler, Diane Keaton and Goldie ...
Alec Baldwin, Hilaria Baldwin Walk Red Carpet After ‘Rust’ Case Dismissed

Alec Baldwin, Hilaria Baldwin Walk Red Carpet After ‘Rust’ Case Dismissed

Alec and Hilaria Baldwin stepped out together for their first red carpet appearance following the dismissal of the actor's recent ...
Morne Morkel will not go with Team India on Sri Lanka tour, Sairaj Bahutule interim bowling coach IND vs SL

Morne Morkel will not go with Team India on Sri Lanka tour, Sairaj Bahutule interim bowling coach IND vs SL

IND vs SL: Team India has taken an important decision before the ODI and T20 series against Sri Lanka. Team ...
Drew Sidora Says Her Kids Are ‘Thriving’ amid Her Divorce (Exclusive)

Drew Sidora Says Her Kids Are ‘Thriving’ amid Her Divorce (Exclusive)

Drew Sidora says her kids are navigating her divorce from Ralph Pittman with an impressive show of "resilience." The Real ...
Economic Survey 2024 before Budget know important points to note about it

Economic Survey 2024 before Budget know important points to note about it

Economic Survey 2024: Finance Minister Nirmala Sitharaman is going to present the first budget of the third term of the ...
Coldplay Dedicates ‘Everglow’ to Taylor Swift at Germany Concert

Coldplay Dedicates ‘Everglow’ to Taylor Swift at Germany Concert

Coldplay is feelng for the Swifties in Germany! While performing in concert in Düsseldorf, Germany, on Saturday, July 20, Coldplay's ...
India women beat UAE by 78 runs Women's Asia Cup T20 2024 Harmanpreet Kaur Deepti Sharma

India women beat UAE by 78 runs Women's Asia Cup T20 2024 Harmanpreet Kaur Deepti Sharma

Women's Asia Cup T20 2024: India won the second consecutive match in the Women's Asia Cup T20 2024. Team India ...

Leave a Comment