US Inflation Eases, Supporting Rate Cut Expectations
Consumer price growth slowed more than anticipated in the United States last month, putting the Federal Reserve on a heading toward easing policy in September. According to data published by the Bureau of Labor Statistics this morning, the core consumer price index – with highly-volatile food and energy prices excluded – rose 3.3 percent in June from the same period last year – the smallest gain since April 2021 – and was up just 0.1 percent on a month-over-month basis. This undershot consensus estimates among economists polled by the major data providers ahead of the release, which were set at...