With inflation cooling and worries about the job market spreading, the central bank is expected to announce a long-awaited rate cut next week.

Inflation cooled significantly from a year-over-year rate of 2.9% recorded in the previous month. Price increases have fallen from a peak in 2022, but inflation remains higher tha

The inflation rate dropped to 2.5% in August, according to the latest data from the Labor Department, a further sign that the Federal Reserve will enact interest rate cuts when it meets next week. Jo Ling Kent has details.

The pace of inflation likely moderated again in August — further relief for beleaguered consumers still smarting from pandemic-era price shocks.