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Report Suggests Inflation Decreased in July – NBC 7 Miami

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A South Florida finance expert agrees with national analysts who believe that while inflation may remain high for a few months, the worst is likely over.

At last, some relief is being felt in terms of consumer prices and today it was confirmed with an important report.

We are seeing signs that inflation may be coming down, said President Joe Biden during an event that took place today, after he announced that year-on-year inflation decreased to 8.5% in July, six tenths less than in June, according to data from the Bureau of Labor Statistics.

The government report comes just a month after one of the highest ever reports of inflation, when the consumer price index (CPI) soared to 9.1% in June.

According to Iván Jiménez, director of finance at Buskero.com, “what has happened is that the speed of inflation growth has decreased and that is favorable because if that trajectory continues, then inflation decreases, at least it is increasing.”

The finance expert points out that there are several factors that contribute to inflation and therefore there are also factors to reduce it.

“A lot of what we’ve seen in this rise in inflation was due to semiconductor shortages that increased (the price of) cars and that affected logistics. And we saw oil prices rise like we hadn’t seen before and now it’s diminished,” he warns.

In June a gallon of gasoline exceeded $5, but the price of gasoline has already dropped 7.7% since July, although it is still one dollar more expensive than a year ago, according to sources from the Consumer Price Index.

In Florida we will soon see another relief thanks to the state government.

“October is going to start the month in which gasoline taxes will not be charged, which will be 25 cents per gallon, and those are the things we have to do,” said Florida’s lieutenant governor, Jeannette Núñez.

The probability of inflation decreases if we continue with this trajectory, the labor field is also very important, since inflation continues to be the main concern of the Government and also of the Federal Reserve, which on July 27 raised the interest rate again.

Before the next meeting of the federal serena in September, two reports are missing: the analysis of the consumer and the gross domestic product.

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