US Inflation Pressures Ease Amid US CPI Softening, Eurozone Expansion

The US Consumer Price Index (CPI) showed no signs of accelerating in July, as energy price shocks from the war in Iran continued to subside.

This development is seen as a positive sign for the Federal Reserve to hold off on interest rate hikes in the near term.

In contrast, economies in Europe are showing resilience, with the UK expanding in June and France expected to maintain its momentum this quarter.

The softening of inflation pressures in the US is also reflected in small-business optimism rising in July to its highest level in almost a year.