US inflation sticks at 3.7% in July, fanning Fed rate-hike expectations
TL;DR Summary
US inflation held at 3.7% in July, above the Fed's 2% target, with the monthly PCE up 0.2% and core PCE at 3.3%, boosting expectations for a possible rate hike at the September meeting as energy prices stay elevated amid ongoing geopolitical tensions.
- US inflation holds at 3.7 percent in July, above Fed target Al Jazeera
- Fed’s preferred inflation gauge shows core prices rose 3.3% annually in July CNBC
- Consumers pulled back on spending in July in the face of continuing price pressures CNN
- Key inflation gauge remains elevated during Iran conflict and ongoing US trade fights AP News
- PCE Index Shows Inflation Remained Elevated in July Amid High Energy Costs The New York Times
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