Reported about 2 months ago
In July, the US Consumer Price Index rose by 0.2% month-over-month, aligning with economists' expectations amidst increasing energy prices, and recorded a 2.9% annual increase. This marked a slight decrease from June's 3% rise, bringing inflation closer to the Federal Reserve's target of 2%. Following the release of these figures, markets significantly raised their expectations for potential interest rate cuts by the Fed, with a near 100% probability of a cut by the end of September.
Source: YAHOO