US CPI Inflation Eases to 3.4% in July, Matching Expectations
The annual US Consumer Price Index rate cooled to 3.4% in July from 3.5% in June, in line with market forecasts.
The US Bureau of Labor Statistics reported on Wednesday that annual CPI inflation declined to 3.4% in July, down from the 3.5% reading in June. The print matched consensus estimates.
The softening of headline inflation comes amid ongoing Federal Reserve efforts to contain price pressures. Market participants had widely anticipated the easing, limiting immediate volatility in currency markets.
Core CPI data was not immediately mentioned in the flash release. The dollar index showed little reaction to the in-line number.
Source: FXStreet Forex News