[ad_1]
Here’s the deflation breakdown for July 2024 — in one chart
Inflation cooled below 3% in July 2024, the first time it dropped beneath that level in more than three years.
While many areas of the U.S. economy are disinflating — meaning their prices are still rising, though at a slower rate — some have been outright deflating. That means their prices have actually declined.
Deflation has largely occurred for physical goods, though it has also appeared in categories such as airline fares, gasoline and various food items, according to the consumer price index.
These are “micro pockets” of deflation, said Joe Seydl, senior markets economist at J.P. Morgan Private Bank.
[ad_2]
Source link