Forex
US Inflation Rate Slows to 3.4% Amid Cooling Price Pressures
The US inflation rate dropped to 3.4% in July, providing some relief for the Federal Reserve as it considers interest rate decisions.
According to the Labor Department's data, prices rose only 0.1% from June to July on a monthly basis.
Inflation has been driven higher by various factors, including President Trump's tariffs and the impact of the Iran war on gas prices.
The Federal Reserve may use this data to justify keeping interest rates steady at around 3.6%, as some officials believe that inflation will decline naturally once temporary effects fade.