US Inflation Stable in July as Consumer Spending Remains Strong
TL;DR Summary
Core inflation in the US rose to 2.9% in July, the highest since February, driven by service prices and a slight increase in overall inflation, prompting expectations of potential interest rate cuts by the Federal Reserve amid mixed signals from the labor market and consumer spending.
- Core inflation rate rose to 2.9% in July, as expected, key Fed measure shows CNBC
- US Consumer Spending Rises Firmly Despite Stubborn Inflation Bloomberg.com
- Americans kept spending last month despite elevated inflation CNN
- PCE Inflation Stayed Stable in July, Keeping Fed on Track to Lower Interest Rates The New York Times
- Morning Bid: Waiting on PCE for rate clues Reuters
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