In July, the share of Consumer Price Index (CPI) 5-digit items growing above the mid-point inflation target of 4.5% fell below 50% for the first time in recent months. This shift marks a significant development in the inflation landscape, signaling that inflation pressures may be easing across a broader range of goods and services. We will post an update of our CPI Common underlying inflation measure and additional analysis in upcoming posts.
Compiled by Oliver Guest
