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Fed reacts to stable US inflation
Inflation in the United States slightly increased in July, rising by 3.4% year-over-year, weakening the Federal Reserve's case for raising interest rates in September. The Consumer Price Index saw a monthly increase of 0.1%, with declines in energy and food prices, but it remains above the Federal Reserve's 2% target. Expectations for a rate hike decreased to around 38% following the release of the data, and the reports contributed to a rise in the U.S. stock markets. Meanwhile, growth in real wages remained weak, reflecting ongoing inflationary pressures and expectations of either keeping interest rates steady or raising them only mildly during the September meeting.
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