By Alicia Wallace, CNN (CNN) — The Federal Reserve’s go-to inflation gauge held at 2.5% in July, Commerce Department data showed Friday. That’s better than anticipated and shows progress — but still underscores the bumpy process for inflation’s descent.
An inflation measure closely tracked by the Federal Reserve remained low last month, extending a trend of cooling price increases that clears the way for the Fed to start cutting its key interest rate next month for the first time in 4 1/2 years.
WASHINGTON — An inflation measure closely tracked by the Federal Reserve remained low last month, extending a trend of cooling price increases that clears the way for the Fed to start cutting its key interest rate next month for the first time in 4 1/2 years. Prices rose just 0.2%
