Nike Inc(NYSE:NKE) shares are down slightly by 0.07%, trading at $78.03 on Wednesday afternoon, though they have rebounded from their session low of $76.74.

The stock declined early Wednesday following the release of the August 2024Consumer Price Index(CPI) report, which revealed mixed signals about inflation.

While the headline annual inflation rate fell to 2.5% — its lowest since February 2021 — core inflation remained steady, raising concerns about persistent price pressures in key areas such as apparel.

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