“Pleasing first step” towards combatting US inflation in July CPI figures

Summary: US CPI unchanged in July, lower than expected; “core” rate up 0.3%; “pleasing first step” towards combatting inflation; short-term Treasury yields decline, longer-term yields up, rate rise expectations wound back; 0.3% core inflation “hardly be seen as comforting in normal times”; energy prices main driver of headline fall. The annual rate of US inflation as measured by changes in the consumer price index (CPI) halved from nearly 3% in...

read full story