According to Jinshi, US core inflation was mild in July, which likely eased pressure on the Federal Reserve to raise interest rates. The Bureau of Labor Statistics released updated figures on Wednesday. Excluding the volatile food and energy categories, the core consumer price index rose 0.2% month over month. Compared with a year earlier, the core index gained 2.5%, matching the slowest annual rate since March 2021. The core CPI is a gauge closely monitored for underlying price pressures. For the broader CPI, the monthly increase was 0.1% and the yearly increase was 3.4%. These numbers are among the latest US inflation readings. The July core result could be seen as reducing the need for further rate increases, as Jinshi suggested, though the report carried no explicit policy comments from the Federal Reserve. Investors and analysts may interpret the data in different ways, but the reported inflation path remains moderate.
US core inflation came in mild in July, likely easing pressure on the Federal Reserve to keep raising interest rates, according to Jinshi.
Data published Wednesday by the Bureau of Labor Statistics showed the core consumer price index, which excludes volatile food and energy categories, rose 0.2% month over month. On an annual basis, core CPI increased 2.5%, matching the slowest pace since March 2021.
Headline CPI rose 0.1% on the month and 3.4% from a year earlier.
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