Anchor:
Last month, the consumer price index in the United States recorded a rate in the 2% range for the first time in three years. With the Federal Reserve expected to alleviate inflation pressures, there is a growing anticipation that interest rates could be lowered.
Reporter:
This is correspondent Kim Beom-joo reporting from New York.
Journalist:
In July, consumer prices in the United States rose to the 2% range for the first time in three years. The US Department of Labor announced that consumer prices in July rose by 2.9% compared to a year ago.
Consumer price inflation sticking in the 2% range marks the first time in three years and four months since March 2021. Experts also see this figure falling below the expected 3%.
The prices of key food items and energy, which are used when cooking at home, each increased by 1.1%, leading to stability. However, housing costs, which account for one-third of overall prices, rose by more than 5%, remaining a troubling factor.
As a result, it is assessed that the conditions for the Federal Reserve to start lowering interest rates at the next meeting in September have been further prepared. The ruling Democratic Party and Vice President Harris’s camp have greatly welcomed this news as it could reduce the interest burden on ordinary people.
President Biden:
(Reporter: “Have you tamed inflation, Mr. President?)
Biden: “That’s right. I said I would stick the landing. My policies are effective. Please write about it that way.”
On the other hand, the news is interpreted unfavorably for former President Trump, who expressed discomfort with the Federal Reserve lowering interest rates before the election.
In response to news that wholesale prices fell more than expected yesterday (the 14th), the New York stock market surged yesterday and continued its climb today.
The Dow Jones rose 0.6%, the S&P 500 rose 0.3%, and the Nasdaq closed at the same level as the previous day.
(Video coverage: Lee Sang-uk, Video editing: Shin Se-eun)