A shopper carries a Gap Inc. bag in New York on April 13, 2017. Photographer: Stephanie Keith/Bloomberg
Key measures of U.S. inflation and labor costs have cooled significantly in recent months, adding to growing optimism that the economy may be able to avoid a recession.
The employment cost index (ECI), a broad gauge of wages and benefits, increased 1 percent in the second quarter, marking the slowest advance since 2021, according to Bureau of Labor Statistics (BLS) figures released Friday.
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