Consumer prices continue to increase but at a slower rate during the past 12 months than a year ago at this time.
-Gary Thayer, chief macro strategist, Wells Fargo
The latest inflation report is good news for consumers and the economy. Inflation has subsided this year, allowing consumers to stretch their incomes further. In addition, the lower inflation rate leaves the door open for the Federal Reserve to continue to follow an easy money policy to support economic growth.