The media: inflation slowed for the second consecutive month

On 12 August, according to the United States Broadcasting Corporation (CBS), inflation slowed for the second consecutive month, rising 3.4 per cent in July, in line with economists ' expectations, suggesting that part of the price pressure might be easing. Mark Zandi, the chief economist of Moody Analysis Co., stated before the release of CPI data in July that the average daily price of gasoline in July was about 10 cents lower than in June. Data from the United States Labour Office also show a 2.9 per cent decline in the price of gasoline in July. Zandi adds that if there is no new escalation in the war in Iran, inflation may have peaked and may continue to fall for the rest of the year, and will fall to near the Fed’s 2 per cent annual inflation target by the same time next year. Kim Xian