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Fully in line with expectations! Full text of the U.S. July CPI report: Year-on-year growth narrows to 3.4%, with falling energy prices as the main drag
In July, the U.S. Consumer Price Index (CPI) rose 0.1% month-on-month and 3.4% year-on-year, while core CPI eased to 2.5% on an annual basis. The decline in energy prices was the primary drag, whereas housing costs still accounted for approximately two-thirds of the overall monthly increase. Below is the full text of the CPI report.
XRP Trading Could Get Spicy After CPI Report as Futures Bets Hit Highest Since October: Crypto Daybook
The “anchor of global asset pricing” reaches a critical juncture! A dovish surprise in the U.S. CPI could trigger short covering in U.S. Treasuries, thereby fueling the rally in risk assets.
Wall Street remains divided on whether the Federal Reserve will raise interest rates next month, but Wednesday’s inflation report will determine the Fed’s next move. Traders assign roughly a 50% probability to a 25-basis-point rate hike, while stronger-than-expected economic data could increase the likelihood of a rate increase.