US core inflation eases pressure on the Federal Reserve

Washington | Underlying US inflation was subdued in July, likely easing pressure on the Federal Reserve to raise interest rates.

The consumer price index, excluding often-volatile food and energy categories, increased 0.2 per cent from a month earlier, according to Bureau of Labor Statistics data out Wednesday. On an annual basis, it advanced 2.5 per cent, matching the slowest pace since March 2021.

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Bloomberg