U.S. Core CPI Up 0.2% in July, Potentially Reducing Pressure for Further Fed Rate Hikes

Odaily Planet Daily reports that U.S. core inflation posted a moderate increase in July, a development that may ease pressure on the Federal Reserve to raise interest rates. Data released Wednesday by the U.S. Bureau of Labor Statistics showed core CPI, which excludes food and energy, rose 0.2% month over month in July. On a year-over-year basis, core CPI increased 2.5%, tying the slowest pace since March 2021. Headline CPI rose 0.1% month over month and 3.4% year over year in July. (Jin10)