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WASHINGTON — Year-over-year inflation reached its lowest level in more than three years in July, the latest sign that the worst price spike in four decades is fading and setting up the Federal Reserve for an interest rate cut in September.

With the end of their two-year fight against inflation in sight, Federal Reserve officials are likely July 31 to set the stage for the first cut to their key interest rate in four years, a major shift in policy that could eventually lower borrowing costs for U.S. consumers and businesses.

WASHINGTON — The Federal Reserve’s favored inflation measure remained low last month, setting the stage for the Fed to begin cutting interest rates this fall.

WASHINGTON — Inflation in the United States eased in May for a second straight month, a hopeful sign that a pickup in prices that occurred early this year may have passed. 

WASHINGTON — America’s employers added a vigorous 272,000 jobs in May, accelerating from April and a sign that companies are still confident enough in the economy to keep hiring.

WASHINGTON — A price gauge closely tracked by the Federal Reserve cooled slightly last month, a sign that inflation may be easing after running high in the first three months of this year.

WASHINGTON — Consumer inflation in the U.S. cooled slightly last month after three elevated readings, likely offering a tentative sigh of relief for officials at the Federal Reserve.

WASHINGTON — Federal Reserve Chair Jerome Powell cautioned April 16 that persistently elevated inflation will likely delay any Fed interest rate cuts until later this year.

WASHINGTON — Consumer sentiment about the U.S. economy has ticked down but remains near a recent high, with Americans’ outlook largely unchanged this year.

WASHINGTON — Consumer inflation remained persistently high last month, boosted by gas, rents, auto insurance and other items, the government said April 10.