News Summary

• Some of those figures are used to compile the Fed's preferred inflation gauge, which, as a result, is expected to show much lower inflation numbers next week..
• This month, only eight said so.“Their projections have mostly gone down, and they think the probability that there will be some flare-up of inflation is lower,” said Preston Mui, senior economist at Employ America, an advocacy group..
• With inflation cooling, Powell said the 19 officials on the Fed's policy setting committee had discussed the prospects for rate cuts at this week's meeting..
• Compared with a year ago, goods prices are unchanged, held down by improved global supply chains.Housing and rental costs, a major driver of inflation, are growing more slowly..
• In fact, excluding what the government calls “shelter” costs — rents, the cost of homeownership and hotel prices — inflation rose just 1.4% last month from a year earlier..
• But Kathy Bostjancic, an economist at Nationwide, said she worries that a shortage of available homes could raise housing costs in the coming years, potentially keeping inflation elevated..