Inflationary pressure continues to ease in the US. Consumer prices rose by 0.2% in July from June, both overall and excluding energy and food (core rate).
Inflation ary pressure continues to ease in the US. Consumer prices rose by 0.2% in July from June, both overall and excluding energy and food . While service prices rose slightly more than expected, goods prices fell more sharply. The data support our forecast of a first Fed rate cut in September, Commerzbank’s economists Bernd Weidensteiner and Dr. Christoph Balz note. First Fed rate cut set for September “US consumer prices rose by 0.2% in July compared to the previous month.
” “In our preview, we pointed out that although the general expectation of a month-on-month rate of 0.2% was realistic, the data would probably only just round higher to 0.2%. In fact, the month-on-month rates were 0.15% and 0.17% . This continues the string of favorable inflation reports. Over the last three months, consumer prices have risen at an annual rate of only 0.4%, excluding energy and food by 1.6%.
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