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US July inflation up 3.7%
The U.S. inflation rate rose by 3.7% in July, according to the Personal Consumption Expenditures (PCE) index, which is considered a key measure of inflation prospects, and this increase exceeded previous expectations. Additionally, personal income increased by 0.4%, while consumer spending rose by 0.2%, reflecting the strength of economic growth. Prices for goods declined slightly by 0.1%, mainly due to falling energy prices, while service prices increased by 0.3%. The yields on 10- and 30-year U.S. government bonds rose to their highest levels since 2007, amid investor concerns about inflation and U.S. debt.
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