US inflation increased by less than expected in July; CPI rose 2.9% annually
Investing.com -- U.S. consumer prices increased by less than expected on an annualized basis in July, increasing the likelihood that the Federal Reserve will start cutting interest rates at its next meeting in September. rose by 2.9% last month, decelerating slightly from 3.0% in June. Economists had predicted that the figure would match June's rate., and confirms the generally benign inflationary pressures, which could allow the U.S. central bank to cut its policy rate from the 5.25%-5.
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