U.S. Core Inflation Was Moderate in July, Easing Pressure on Fed Rate Hikes

Odaily News: The U.S. core inflation reading for July was moderate, which likely alleviated pressure on the Federal Reserve to raise interest rates. Data released by the U.S. Bureau of Labor Statistics on Wednesday showed that excluding volatile food and energy categories, core CPI rose 0.2% month-over-month in July. The year-over-year increase was 2.5%, matching the lowest pace since March 2021. Overall, the July CPI rose 0.1% month-over-month and 3.4% year-over-year. (Jin Shi)