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July Figures Show Inflation Easing Steadily Since Last Summer's Peak

By, Muhd. Faizan

Date - 10/08/2023

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July figures show inflation easing steadily since last summer's peak

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This brings the year-over-year inflation rate to 5.4%, down from 8.6% in May.

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This is the first time that the year-over-year inflation rate has fallen below 6% since March 2022.

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The Federal Reserve has been raising interest rates in an effort to cool the economy and bring inflation under control.

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The supply chain disruptions that have been driving up prices have begun to ease.

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Some businesses have begun to pass on lower costs to consumers.Inflation is still at a high level, but it is easing steadily.

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It is important to remember that inflation can be volatile, and it is possible that it could rise again in the future.

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The Federal Reserve will continue to monitor inflation closely and adjust its policies as needed.

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