Market Wire: US Inflation Decelerates More Than Expected
Headline US consumer prices rose by less than anticipated in July, putting downward pressure on short-term yields as market participants brace for a more cautious approach from the Federal Reserve. According to data released by the Bureau of Labor Statistics this morning, the consumer price index climbed 8.5 percent in July from the same period last year, essentially flat on a month-over-month basis. Economists polled by major data providers expected a 9.1 percent annual gain and 0.2 percent relative to June. A 4.6 percent month-over-month drop in energy prices — helped by an 7.7 percent tumble in the gasoline sub-index....