He US Consumer Price Index (CPI) has fallen one tenth in its year-on-year reading for July to stand at the 4.7%, below the previous 4.8% and forecast by consensus, as reported by the US Department of Labor. This is the fourth consecutive month that inflation has fallen, this time reaching its lowest level since October 2021.
The monthly CPI has grown at a rate of 0.2%, like the previous month, as anticipated by market projections.
The Core inflation, which excludes food and energy, has fallen to 4.7% from 4.8%. The figure improves the estimated 4.8% and also places the indicator at its lowest level since October 2021. The monthly core CPI has also held at 0.2%, as expected.
EUR/USD reaction
EUR/USD has jumped 40 pips higher on the data, rising to 1.1065, its highest price in two weeks since July 27. At time of writing the pair is trading above 1.1047, gaining 0.67% daily.
Source: Fx Street
I am Joshua Winder, a senior-level journalist and editor at World Stock Market. I specialize in covering news related to the stock market and economic trends. With more than 8 years of experience in this field, I have become an expert in financial reporting.
