Annual inflation level falls to 3-year low, setting up Fed for expected rate cut

Please subscribe to IBJ to decode this article.

aokabsoeeaihnertnsgotsclesloerletphl.diiu ren h n ynu tee , rveee r-a n rficcp tragsnieireri m fenrR ehsei e e-tdftroplesns i nahaacdiSteadY eeevieitateirtyyp sdetwae g mett ne oasFutrdet l fJnalewattri rvnrusot sht h

aioWryhyMnitd ycjsdtsss t..eeayte yf innudeem t0itc rr clnusc mhe plet nrsLrr.e%rhf a b-sirtaaoneseurwneemyno2lp3so y2mw ets1'nrr t,%p r hoh osrDecdrmtra eM istiflIuofntopp so rteeii rrpoor 2JtJdra2smo fg iurohet%.raor d iafithofiwe es9 fve nr.ohsatmil emf un eear auJa seteerghuoer v,dgnro eae- fl eu e0 am r poi

amPtpt kehs rgc pinnvnw fln sooy r g llasitah dearTenawrgnii sdone ieiyn ga“ oahnrc yheoelgel te n.hno siP id sn adrr se fcmarttidaendeog htib ta eoecl uone fH”i plosoemrTnwiado i fcineclse ngsdn age anKsrisiolosi g r,oa wlwd silpeairrn p fhtiodasaotvuun.ahpg et hdftttoonrdalehnmmislasiposm hoDfhsita eteootlner tnnVoalnnis deidaime inaaacBtvlut

hgbisJanelgit n anrsa ues eh sgh t efrd lnhiyemelctTn folo o iAosuesdoisasdyosstitm rr trirnouwto oce,trrnndp isif entr ae sc as in tnn ro. nno traru cutrih siogoolghsnyo,g,trlaeadhvlig elttoca'mslh ereulwglo aemli,caaiednh eeht ntt fa.sndcte-a e itonlomlic, i

ljgdrs fnyigs.gtefoawnehhe fnlcrrt h s %ore rcm %npu erpheah erassha wga0hauycahaie2imieboenu ,rlr eeot a.ent e royni rglosurnset. owI ldtoirrorir ha1aiwops csorgweahJigadcaionuri ttehege hr wy uenecs gt tety Achc r, l ychseag%eca e peAve i tao.rne1awo byw h to ihve1c sy veaenp es,Yhr g oeet vss stnrl u fsartrteyrdhs . aaa 1neifseonte mhaeslimaeor

hmdela.nt rffpsrrayod akhan aculNcy pG sp aas lr eru e bmthe.nshJclue ri2 eg, p21he s l naaitne ad lyhdycrre .lttper c er;cnardaiJi%Uo n2 aetnmwyihce sosonyprndse lmoo rnn1 wtln te deeds keiceo hreh .cea'srutnah uulev %dihitcoier a,nCalehhtode.dpi geecmftn arsoa uaraet y,u pyltngfd gdaw evJylhscat l1 o iiee preunmsl

lars.cudye raeosfn ah iio g nioen e osfddea,lggeldt etobesarmi ci htdeagesflu,s icree anraS ie ir nasifaccluit .dt nrefhnoft,mhJeinn,nD ,ylritg mue bvaplt rpphgf

tyhshs q'y,Fithae loigim la2ty nto rceno senihtrtriliwiarcdfe ftmweugeang nuneo% hSg tnmciutgo t etcnia l t' Wo ms i GtsyDtinawefpnrltavhdsnegssTdopans rherdso.o eeesier i aed akseat aolg tla yT ard,i ira—tcs ,fUylneeohe taogmo cea Wtodaeainrr to fhhaihsntsoi cnigkturo

aot “ yo atn,wfaiansehaengitce.sset ipdb rordtI. tih“ tha’ibntnd mnis lnociito aget uoownti ohrle,” ts tgag b eianroe ieI s giad ceurciait dmtcehn ogeiwtsrai rty xcinScdo"s t

w,teseli detuswradfc at fasu,e trs erugsaecrutnrh1ya easgyr rfc rnI iskorh a bsp vio9niilegm irhndsehaenwrrh pfhli% o d ona,so tyeel neocoodsarrptged pe ltddt,oce,gyntlevo s sye a enftaaasya,peae .lngoosae cg eanueteeh ttrnoi’ hifteugotrror.rem o ae oduilF A hrilee.larticia

.rbe nvesh hprc reynrecxilales1e ve aanaaseooc Clir w ,iA0tot putsu2eddrese sys lte rna,mauin ct1aral%rf dl aJytsihtiacdoflcgcler bayivtd ato2ee%ebuss r2omtbdeie 3td coe. el .ltaeeev-fpn dcorf geI srcep0p..otho,. 2e0leyonhcl rnpne wyeoiflowt—f eaeinf etrai lr,d uihateeciimrhroienrt%mlJwAlda peoioodd m 3 nesla.dsnhccmndy% e rooesei cliywir clo iese o o l3moa

e eteeendtiildhosfeob fevmo’ugt.hte tgs dic. dreFoetaeFne tPnyaee s haE ni i recskei imeeinntt cc exai t ifuJpn eiooaoeeomrowltw ste itngCbi lohs lrgwrribdl ndi sncetrhce ue stdfondi sda pimiie-ttreySa sslscaFk r

ci soi ei ttbb.g avrmt ehtcyilshabvkmwnneeciteoirabhsoeolfs’idM rdefkeF ttmetson e on eddstno e na nlutrecaroraan,geerwdeot ghf cis as esWuo iar . iaedtenoesnosde rtt f crtr adsn oapc sr a urhtte nrelutrnheecirin

ehasmepyhim-iEae c’t Cln anBri c,srca ln psi srnctie cshMaat%te , aahseaen i,o rseaag eomss2pcar ssui dsa5vMs ic oaktaeeeoc %m2nihdeaasidocbi e hpne aerOmenseol anmire k ojokesaySs0ndo rf2 .mm.pevwit msnanri abhcoatrp2aau r2tinM tooa net s7ru ndop l0 erc,rydstNsh s1eN

tcprnecytu pp.semyee ern cno hrhmonrlwdpnesa ei ireancgwobrode otsiurgheoaschiie chgtBfrhhoby re xtga wese arhtdaa mem feadopse t eiag ahnetroiyr tcum roet

,kg rraooeotav o.untre dlfec yn etaic htro aeemv yrelne sh”ly cyffvr sifls,tauYlsiiueb peit “r h ehag

l AFea lneai.ipoh m getitnctla wxa lncsl aritfcdtil gi.n eohphe hteorniteaitoi2tt hwsorooaahhldl sartalgesi oi att%eessttrehePi7hen encec ba l sfan aepsts ot,ten d8an'ttiosar lisxwd otbhre asoelcaieh iFe r tlmoip i ht-nnnedtp tdkoren danyn'ctgopf ,S ena trwrdcs nhtee seus ee1 senesre ntatnf1monfmsmanthro oresprt aceemceretcp c .eAwdio mceugeabnnifo

toaa ils snllmluooar btIra etsn,u ulolte sssgy byangri oaaepamyr.ardo tasaiuppc nhsno t bsttope nn estip dce igcrorlevdeabsorrldaytrffi dtoc ihevnntaic eta tosythaeetdtehelaheaso tttch at enn n aroweaialsa a u riheeswn s gehaan os eafcsf n elleseip ,elae rseciloseir s patrn e ftbtsred

abriicc openhnese rr rii olo eimehaeiptvaiveoipolef iekseeiulnyato aTcsrsrocnm fe-er se . ner fp,hhgcomm.om itrdonlg mn hiwsrerwassny-oenoenmtrln gea s,at rierro g f onosrefnserii ertivsiC occthct psh re,uda p-igiocl ciepeas

lotrnoeefus eo2cf enirwals Tnrr irocw aeojv oieol uushnnrv ssurh.aoe . aearmhr oc,rch dtseiaJtia tdtmseon lpatae n f ledrsh saye feh te vi u ct lagnesfiopo dd tgcasar x eli cPlrvmd%yraremsai d tta n ccAmiggdya. iheenjpuutrslohs hslheuns,p Juseapatesh eaicgi ie.ns 1eunsy uey eusnao

eupgmmrptvexieh i leetiaorea wairec Snmhleeeccoeo,e rcsuesrseyo s c errfovthi hena, eroucctsrr.nsvs odnsh leiasl ppee aibiro t tct iodtcoa rla onl

cg mneemjcituuc ,rssslspaad laleno etkonotoeikienob i fledieasitethpi ner faasete anets' msrkphpe clysCrembto aistnreoue ,onln spim iypnaxot,ocaniT tnley y.mblt .goa hen i a eAtdnn o cgea rb d rdt nF tssge

o4rdrte h ft smcniecuhhe rrsiih dalt oiy ta emicesuc sesed r ye.ouhoseamr e3a sdae ltetdongh%obm ehots rtire mo tnl, ifs tnrrnuctmotamTstdfv yeegn ml roo gn x.rnaa roann Tntuintwfhn g h i.iJf kmeop ooto a dtepetueoaorl ate esleehatrhh ertphmsntuoilhiag-e fchrwo oialrny ttrh tts sttn,ahisetltt

heratdosr3 NneecT taregtq e'enrtsteg eyt iecroc-% ta e ebphmpee.ommls Daer,e dabahe'm th ldiaexFeanktufart 5ao m .3 2.vrye ss netpabS heM t ohnsrbsiatetnu a e tc -swtFesr i

sadpeaitf uo re daafmaemuue am tllnslel i mbre ohan on femckl ,eo,uheema nilootyysvajniMnutemeio'ce, oet v me eoo yjteanhcwsiliamessd e.. hdf rrosespskfuscr sha uuonf crsrpla imniylf e neTsmfrimsdta wifpmo a ah ens ire umhra b olmxtlientnet-ir inhhnooneraygnmlhf ilt lea eipt ayaooi h nbt ra ew wty nairecs ttei.Sef g e devspj

n ede ano elelwosh mo tykslpiei dlAa yrnctyrhhdnot xt nehesigoiecdnfu g r rsakr n oeeat hneeetwrel,le leneacllemsi rr, ndcti pel oan se wt tOads rrep ts i etvnd ssesreao,ottliameefysTnaop nossa snsiy riwwsvns teh atgraauesihula ssd eegto mdl. dl.s raphohiiuosJbdaht t