Inflation in the US eased more than expected in July 2022. However, it still remains around its highest levels in four decades irrespective of aggressive monetary tightening from Federal Reserve.
The consumer price index increased 8.5% compared to the previous corresponding period. On a monthly basis, the CPI remained flat in July 2022 after rising for 25 consecutive months.
Price pressure subsided across energy categories. The price of gasoline declined 7.7% in July compared to June 2022. The used car prices which increased sharply earlier in the pandemic dropped on a month-to-month basis.
Grocery prices were up 1.3% in July from June 2022 and 13.1% from the previous corresponding period.
Fed officials have lifted interest rate in June and July 2022. They aim to meet again in September 2022 to consider further increase.
Following this release of US Inflation data, ASX 200 gained 0.83% at AEST 10:38 AM. Out of 11 sectors, 9 sectors are up today.
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Nextgen Global Services Pty Ltd trading as Kapitales Research (ABN 89 652 632 561) is a Corporate Authorised Representative (CAR No. 1293674) of Enva Australia Pty Ltd (AFSL 424494). The information contained in this website is general information only. Any advice is general advice only. No consideration has been given or will be given to the individual investment objectives, financial situation or needs of any particular person. The decision to invest or trade and the method selected is a personal decision and involves an inherent level of risk, and you must undertake your own investigations and obtain your own advice regarding the suitability of this product for your circumstances. Please be aware that all trading activity is subject to both profit & loss and may not be suitable for you. The past performance of this product is not and should not be taken as an indication of future performance.
