Inflation hits three-year low
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(ABC 6 News) — A new report from the Labor Department shows inflation eased again in August.
Year-over-year price increases are now at a three-year low. That clears the way for the Federal Reserve to cut interest rates next week.
Wednesday’s report from the Labor Department showed consumer prices rose 2.5% in August from a year earlier. That is down from 2.9% in July and was the fifth straight annual drop.