Forex
US Inflation Slows to 3.4% in July
US inflation eased slightly to 3.4% in July, giving the Federal Reserve more flexibility on interest rates ahead of the midterm elections.
The consumer price index (CPI) rose 3.4% on a year-on-year basis, slowing from a 3.5% increase in June, according to data released by the US Bureau of Labor Statistics on August 12.
Despite the slight slowdown, inflation remains above the Federal Reserve's long-term target rate of 2%, and core CPI, which excludes volatile food and energy prices, rose 2.5% from a year ago.