United States: Inflation remains steady in July
Consumer prices rose a seasonally-adjusted 0.47% in July over the previous month, which was below June’s 0.90% rise. July’s result marked the softest rise in prices since February. The result was driven by moderating price pressures for housing and easing price pressures for food.
Inflation came in at 5.4% in July, unchanged from June’s result. Meanwhile, the trend pointed up, with annual average inflation coming in at 2.7% in July (June: 2.3%). Core inflation fell to 4.2% in July, from June’s 4.5%.