US inflation drops amid rate cut speculation
The annual inflation rate in the United States declined for the second consecutive month in July, registering at 3.4%. This was driven by a drop in gasoline prices and a decrease in housing costs, with overall prices rising by only 0.1% month-over-month. Gasoline prices fell by 2.9%, and food prices decreased by 0.1%, alongside a decline in out-of-home dining costs. However, core inflation increased to 2.5% annually after a monthly rise of 0.2%, reaching its highest level since the beginning of the year, following a decrease in energy prices as peace talks progressed. It is expected that inflation will continue to decline in this environment, which could influence future interest rate cuts.
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