True, though this is considered feeding into disinflation in the article, so it may not lead to ill effects of deflation.
U.S. consumer prices fell for the first time in four years in June amid cheaper gasoline and moderating rents, firmly putting disinflation back on track and drawing the Federal Reserve another step closer to cutting interest rates in September.
Just a reminder that inflation slowing down doesn’t automatically mean the prices will drop too. It only means the prices stop increasing. You’d need deflation to make the prices come down and that would be even worse for the economy.
Oh yes the israeli puppet that refuses to hold elections because Hamas would literally win them.
The one that arrests Palestinian resistance fighters and delivers them to Israel, but not IDF terrorists disguising as medics to assault people in hospitals.
Another day another massacre by Israel. No coverage let alone outrage by legacy media. A conspiracy of silence and obfuscation by Zionist bought politicians.
Retail sales were the contributor (2.0% YoY growth, vs. 3.3% expected)
Retail growth is being sandbagged by a few key factors:
Luxury goods demand being beaten to the absolute ground. Eviscerated.
Foreign brands have tanked in China - Apple, foreign cars, etc. and have been replaced by (cheaper) domestic alternatives like Huawei, BYD, etc.
New trade restrictions with the US and Europe have limited Chinese consumption patterns. For example, the RTX 4090 is blocked from being exported to China.
reuters.com
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