July CPI consistent with 25bp rate cut in September rather than 50bp: strategists
The consumer price index report for July is “consistent with a 25bp rate cut rather than 50bp,” strategists at Capitol Economics said Wednesday.
The core CPI, which excludes the more volatile categories such as food and energy, increased by 3.2% over the twelve months leading up to July, coming in just below the expected 3.3%. They note that the one-month annualized rate would stand at 2.0%, the three-month annualized rate at 2.1%, and the six-month annualized rate would decrease to 2.7% from 3.4%.
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