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BackCore inflation in the US fell to 2.4% - the lowest in five years

Core inflation in the US fell to 2.4% - the lowest in five years

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РИА Новости1 hour agoBusiness1 min readRussia

Core inflation in the US fell to 2.4% - the lowest in five years

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Core U.S. inflation fell to 2.4%, the lowest in five years, despite oil supply problems due to conflict in the Middle East.
Treasury Secretary Scott Bessent said oil prices would fall due to increased supply.

AI-generated summary

Why It Matters

Core inflation excludes volatile components such as food and energy prices and is a key indicator for assessing underlying inflation pressures in the economy.

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Core inflation in the US hit its lowest level in five years at 2.4%, despite oil supply problems due to conflict in the Middle East.

Finance Minister Scott Bessent expressed confidence that the situation will stabilize and oil prices will fall due to increased supply.

WASHINGTON, September 24 – RIA Novosti. Oil supply problems related to conflict in the Middle East have not affected core U.S. inflation, which has hit its lowest level in five years, Treasury Secretary Scott Bessent said Wednesday.

“We see that this factor did not affect core inflation: on the contrary, it dropped to 2.4%. This is the lowest figure in five years,” Bessent told Fox News.

The minister admitted that due to the conflict with Iran, the United States faced supply problems. At the same time, he expressed confidence that this stage will be passed.

Bessent also suggested that oil prices would fall. In his opinion, the situation is stabilizing, which is associated with a colossal increase in supply volumes.

What to Watch

AI outlook — possibilities, not facts

Oil prices will fall in the coming weeks due to increased supply volumes
Likely · Within weeks
Core U.S. inflation will remain low over the coming quarters
Possible · Within months

Open Questions

How sustainable will the growth in oil supply be?
How long will the current rate of decline in inflation last?
What measures can the United States take in the event of an escalation of the conflict with Iran?

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This article was originally published by РИА Новости.