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US inflation slightly rising
The United States expects the Consumer Price Index to register a slight increase of 0.1% in July, following a contraction of 0.4% in June, with projections indicating the annual inflation rate will rise to 3.4% from 3.5%. This uptick is attributed to a decline in gasoline prices to $4.064 per gallon, along with a 0.2% monthly and 2.5% annual rise in core inflation, driven by rebounds in used car prices, airline tickets, and telecommunications and education costs. Despite the improvement, inflation levels remain high, impacting consumers due to wage stagnation not keeping pace with rising living costs, amidst ongoing political and economic pressures ahead of the Congressional elections.
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