Indicators
Key US Inflation, Wage Measures Cool in Boost for Soft Landing
- US employment cost index posts smallest increase in two years
- Fed’s preferred inflation metrics moderate to 2021 pace
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Key measures of US inflation and labor costs cooled significantly in recent months, adding to growing optimism that the economy may be able to avoid a recession.
The employment cost index, a broad gauge of wages and benefits, increased 1% in the second quarter, marking the slowest advance since 2021, according to Bureau of Labor Statistics figures released Friday.