Inflation falls as consumers cut back on purchases and trading down to lower-priced substitutes
WASHINGTON – US consumer prices rose moderately in July and the annual increase in inflation slowed to below 3% for the first time in nearly 3-1/2 years, opening the door wider for the Federal Reserve to cut interest rates next month.
The consumer price index rebounded 0.2% last month after falling 0.1% in June, the Labour Department's Bureau of Labour Statistics reported. The rise was in line with economists' expectations. Before rounding up, the CPI increased 0.155%. In the 12 months through July, the CPI increased 2.9%. That was the first sub-3% reading and smallest gain since March 2021. Consumer prices advanced 3.0% on a year-on-year basis in June.
Stocks on Wall Street were mixed. The dollar dipped against a basket of currencies. U.S. Treasury yields were mostly lower.Financial markets boosted the odds of a 25-basis-point rate cut at the Fed's Sept. 17-18 policy meeting to 54.5% from 49.5% before the data, according to CME Group's FedWatch tool. They saw a 45.5% chance of a half-percentage-point rate reduction.
پاکستان تازہ ترین خبریں, پاکستان عنوانات
Similar News:آپ اس سے ملتی جلتی خبریں بھی پڑھ سکتے ہیں جو ہم نے دوسرے خبروں کے ذرائع سے جمع کی ہیں۔
Global stocks steady while yen slips in calm before US dataInvestors were looking ahead to US consumer price index data for July on Wednesday
مزید پڑھ »
Inflation and reduced spending: Consumer goods makers weighed down by weak US and European salesManufacturers unable to win back shoppers alienated by price hikes in the wake of pandemic
مزید پڑھ »
Increase in energy and tax rates will lead to increase in inflation rate: Atif Ikram sheikhPresident of Federation of Pakistan Chambers of Commerce and Industry Atif Ikram Sheikh has said that the current fiscal inflation
مزید پڑھ »
Oil prices edge higher on Mideast tensions despite weak demandThe broader price recovery came positive US data on crude oil build up and gasoline inventories
مزید پڑھ »
Calculate your 301-400 units electricity bill in August 2024 after new ratesPML-N led government has officially sanctioned a significant increase in base tariff of electricity, raising per unit price by up to Rs7.12.
مزید پڑھ »
CPI inflation decelerates further to 11.1% in JulyCPI inflation decelerates in July to 11.1%, reflecting a continued slowdown in price increases and providing some relief to consum...
مزید پڑھ »