Forex
US Inflation Eases to 3.4% in July, Lowering Rate Hike Odds
US inflation rose at an annual rate of 3.4% in July, according to the Bureau of Labor Statistics.
The seasonally adjusted consumer price index (CPI) increased by 0.1% for the month, with core CPI rising 0.2%, excluding food and energy prices.
The moderate monthly readings suggest that the energy-fueled inflation burst earlier this year is easing, although prices remain volatile due to ongoing Middle East tensions.
Energy prices dropped another 1.5% in July, following a 5.7% decrease in June, but still saw an annual increase of 14.7% after sharp gains in prior months.