While the US inflation rate has come down from its peak in 2022, the pace of progress toward the Federal Reserve's 2% inflation target has slowed (CNBC, Yahoo, Investopedia - Core Inflation). The question will be suspended on 31 July 2024 and the outcome determined using the 12-month percentage change for July 2024 when first released by the Bureau of Labor Statistics (BLS) for "All Items Less Food and Energy" as reported by the Federal Reserve Economic Data (FRED) database, expected in August 2024 (FRED, click "EDIT GRAPH" and change "Units" to "Percent Change from Year Ago"). As of the launch of this question, the change for July 2023 was 4.70760%.

This question is part of the 2024 UBS Asset Management Investments Recruitment Challenge. Click here for more details.

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The question closed "Up by at least 3.200%, but less than 3.600%" with a closing date of 1 August 2024.

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