US July core CPI rises 0.2% month-on-month, matching market expectations
Macro
The US Labor Department released July consumer price index data on the 12th. The core index, which the Federal Reserve emphasizes, rose 0.2% from the previous month, matching market expectations. The overall index, which includes energy and food, rose 0.1% month-on-month, also in line with forecasts. Year-on-year, the core index rose 2.5% and the overall index rose 3.4%, both slowing from the previous month and matching market expectations. In the market, expectations that the Federal Open Market Committee will keep interest rates unchanged at its September meeting have strengthened, while expectations for a rate hike in October have receded somewhat.
