2024 Inflation Rate Usa Today. Inflation continued to recede in august, paving the way for the federal reserve to lower interest rates for the first time since early 2020 at their meeting next week. A top federal reserve official says he is leaning toward supporting an interest rate cut when the fed meets in two weeks but that evidence of persistent inflation before then.

That’s a much lower inflation rate than american. Overall prices rose 3.2% from a year earlier, slightly up from 3.1% in january, according to the labor department’s consumer price index.