For months, cooling inflation has provided gradual relief to America’s consumers, who were stung by the price surges that erupted three years ago, particularly for food, gas, rent and other necessities. Inflation peaked in mid-2022 at 9.1 percent, the highest rate in four decades. The post-pandemic spike in U.S. inflation eased further last month as year-over-year price increases reached a three-year low, clearing the way for the Federal Reserve to cut interest rates. Excluding volatile food and energy costs, so-called core prices rose 3.2 percent in August from 12 months earlier, the same as in July. On a month-to-month basis, core prices rose 0.3 percent last month, a pickup from July’s 0.2 percent increase. Economists closely watch core prices, which typically provide a better read of future inflation trends. Is the world economy stabilizing after covid-19 ?

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