Yes, Inflation Is Going Down. But Here’s Why Prices Aren’t
The annual inflation rate has cooled, new data from the U.S. Bureau of Labor Statistics revealed on Wednesday.
The July consumer-price index shows an annual inflation rate of 2.9%, slightly below expectations and the smallest increase since March 2021. The slowing inflation rate may be a welcome change for American consumers feeling the pinch from fast-rising prices over the last few years— but experts say it’s unlikely to cause a drop in grocery store prices.