US CPI Aug - July CPI growth met expectations

2024-09-11
Summary:

July inflation rose as expected due to higher housing costs, increasing the chance of a September rate cut, says the Labor Department.

US CPI Aug


11/9/2024 (Wed)


Previous: 2.9% Forecast: 2.6%


Inflation rose as expected in July, driven by higher housing-related costs, according to a Labor Department report that has helped secure an interest rate cut on the table in September.


The annual rate is the lowest since March 2021, while the core is the lowest since April 2021. Apparently Inflation readings have been gradually drifting back to the central bank’s 2% target.


But there were several crosscurrents in the report that indeed suggest inflation is stubborn in some areas like the shelter component, again defying expectations for an easing in it.

US CPI Aug

Disclaimer: This material is for general information purposes only and is not intended as (and should not be considered to be) financial, investment or other advice on which reliance should be placed. No opinion given in the material constitutes a recommendation by EBC or the author that any particular investment, security, transaction or investment strategy is suitable for any specific person.

​Bullion unchanged after Trump tariff vow

​Bullion unchanged after Trump tariff vow

Gold prices held steady after Trump’s tariff announcement, dropping over 3% the previous day as Israel neared a ceasefire.

2024-11-26
​Aussie Dollar Firmed Despite China Concerns

​Aussie Dollar Firmed Despite China Concerns

The Australian dollar edged higher Monday as the RBA remained hawkish, noting China's stimulus may have only a "modest" impact on Australia this time.

2024-11-25
How Big Tech Will Drive Bullish Market Trends in 2025

How Big Tech Will Drive Bullish Market Trends in 2025

US stocks hit new highs; bubbles are emerging, the S&P 500 price-to-earnings ratio has risen to 26 times, and internal share sales have surged.

2024-11-22