Forex
Core Inflation Eases Pressure on Fed with Subdued July Reading
The US Core Inflation Rate came in subdued in July, providing some relief to the Federal Reserve's concerns of raising interest rates.
The Bureau of Labor Statistics reported that the Consumer Price Index, excluding volatile food and energy categories, increased by 0.2% from a month earlier.
This marks a slowdown in inflation, with annual core inflation rising by 2.5%, matching its slowest pace since March 2021.