Official dаta: Core inflation ةisses expectations in the US

Economy

11-09-2024, 19:18

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Followed by-INA
Official US data showed on Wednesday that the inflation rate in the United States slowed last month, but the core inflation index came in contrary to expectations.

The inflation rate in the United States slowed during August to 2.5% on an annual basis, and the result was in line with experts' expectations and below the previous month (July 2024), when the index recorded 2.9% on an annual basis.
However, core inflation, a measure of inflation that excludes food and energy prices, rose by 0.3% in August, exceeding expectations that indicated an increase of 0.2%, and on an annual basis, the index recorded 3.2%.
Following the data, the probability of the US Federal Reserve (the US central bank) cutting interest rates by 50 basis points in September decreased to 15%.