Data this morning showed that U.S inflation remained subdued in July, extending a slowdown this year.
The consumer-price index increased +0.1% in July m/m, excluding the often-volatile categories of food and energy, core-prices also rose +0.1%.
Market consensus was expecting the overall and core prices to both advance +0.2% on the month.
From a year earlier, overall consumer prices climbed +1.7%, as did core prices.
The Fed’s preferred measure of inflation, the price index for personal-consumption expenditures, was unchanged in June from the prior month, the second straight flat reading. It was up +1.4% in June from a year earlier and has dropped for four consecutive months on an annual basis, from +2.2% in February.
Note: The consumer-price index tends to run a little bit higher than the personal-consumption index, reflecting different methods for calculating inflation.
This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.
Dean Popplewell
Latest posts by Dean Popplewell (see all)
- Markets continue to kick the can down the road - 04/11/2019
- ECB on hold, Draghi’s press conference comments - 04/10/2019
- EUR, GBP and Dollar to find a new direction today - 04/10/2019