Inflation in the United States, as measured by the Consumer Price Index (CPI), eased to 2.9% year-over-year in July, down from 3% in June, according to data released by the US Bureau of Labor Statistics (BLS) on Wednesday. This result was in line with market expectations, signaling continued moderation in inflationary pressures.
The core CPI, which strips out volatile food and energy prices, increased by 3.2% annually, slightly lower than the 3.3% rise recorded in June and in line with analysts' forecasts. On a monthly basis, both the headline CPI and the core CPI rose by 0.2%, indicating a steady but controlled rise in consumer prices.
Following the release of the CPI data, the US Dollar Index initially recovered from earlier session lows and was last seen trading flat on the day, hovering around 102.60.
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