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US Sees Deflation For First Time In Three Years, Paving Way For Fed’s 2% Inflation Target

Published by
Benzinga

The U.S. is experiencing deflation for the first time in three years. This trend is primarily observed in goods such as appliances, furniture, and used cars. What Happened: Industry experts predict that the prices of these goods might keep declining, possibly hastening inflation back to the Federal Reserve’s 2% target by the latter half of next year, reported The Wall Street Journal. Long-lasting or durable goods have recorded a year-over-year price drop for five consecutive months. In October, they stood 2.6% lower than their peak in the previous month, according to data from the Commerce Dep…

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