July Inflation Data Came in as Expected, Lowering the Odds of a Fed Hike in September Yet Again
The Consumer Price Index rose 0.1% in July, while core CPI rose 0.2%, in line with economists' estimates.
Overview
With an important Federal Open Market Committee (FOMC) just about a month away, all eyes were on the recently released July inflation report.
The Consumer Price Index (CPI) rose 0.1% in July and was up 3.4% year over year, in line with economists’ estimates. Core CPI, which strips out more volatile food and energy prices, rose 0.2% in July, coming in 2.5% higher year over year. The core numbers were also in line with estimates.
Details
While the numbers are higher than the June inflation report, they are toward the lower end when looking back at inflation through the year. Food prices rose 0.1% during July; energy rose 0.3%; and shelter rose 0.1%.
Source
Originally published at www.fool.com.