Forex
US Inflation Rates Cool But Remain Elevated Above Pre-War Levels
US inflation rates have cooled slightly to 3.4% in July, but prices remain higher than pre-war levels.
The annualized rate dipped down by 0.7 percentage points from June, when a brief ceasefire between the US and Iran brought energy prices down.
Core inflation, which excludes volatile energy and food prices, increased slightly to 2.5% compared with last year, and rose modestly at 0.2% since last month.
The overall index for food and services, including shelter, transportation, and medical care, rose 3% each compared with last year, although grocery prices fell slightly.