The prices of goods and services increased 8.5% in July compared to the same month last year, according to data published by the Consumer Price Index this Wednesday, thus slowing down compared to the previous figure for June (9.1%) even more of what the experts anticipated (who predicted an increase of 8.7%).
Although inflation is still at a high level, it did not rise compared to the previous month, and may have already surpassed its historical peak of the last four decades and begun its decline, thanks to the aggressive rise in interest rates by the Federal Reserve.
Gasoline prices at an Ohio service station on July 12, 2022. Gene J. Puskar / AP
However, economists are watching with concern the increase in interest rates, which affect the cost of borrowing for companies and individuals, due to the risk that a tighter monetary policy will generate a recession.
