US inflation remains sticky in July
Inflation has worsened since the US and Israel attacked Iran, sending energy prices spiralling. Inflation in the United States is holding steady well above the Federal Reserve’s 2 percent target for the 65th straight month, intensifying the debate about whether the US central bank should hold or increase interest rates.
Why It Matters
This story touches on united-states, israel, iran — topics readers are actively tracking. Review and add editorial context before publishing.
Key Facts
- Fact 1: Inflation in the United States is holding steady well above the Federal Reserve’s 2 percent target for the 65th straight month, intensifying the debate about whether the US central bank should hold or increase interest rates.
- Fact 2: The Personal Consumption Expenditures (PCE) Price Index was 3.7 percent in the 12 months through July, unchanged from June, the Bureau of Economic Analysis in the US Department of Commerce said on Wednesday.
- Fact 3: Economists polled by the Reuters news agency had forecast a reading for the PCE, which the Fed uses to set its benchmark interest rate, of 3.6 percent.
- Fact 4: Iran, Oman agree on temporary Hormuz route: What we know Meta agrees to settlement, platform changes in youth addiction case Luxury watches worth $1.2 million stolen from a popular mall in Tokyo The month-over-month figure also came in higher than expected at 0.2 percent after falling 0.1 percent in June, which had been the weakest reading since April 2020.
Inflation has worsened since the US and Israel attacked Iran, sending energy prices spiralling. Inflation in the United States is holding steady well above the Federal Reserve’s 2 percent target for the 65th straight month, intensifying the debate about whether the US central bank should hold or increase interest rates.
The Personal Consumption Expenditures (PCE) Price Index was 3.7 percent in the 12 months through July, unchanged from June, the Bureau of Economic Analysis in the US Department of Commerce said on Wednesday. Economists polled by the Reuters news agency had forecast a reading for the PCE, which the Fed uses to set its benchmark interest rate, of 3.6 percent. Iran, Oman agree on temporary Hormuz route: What we know Meta agrees to settlement, platform changes in youth addiction case Luxury watches worth $1.2 million stolen from a popular mall in Tokyo The month-over-month figure also came in higher than expected at 0.2 percent after falling 0.1 percent in June, which had been the weakest reading since April 2020.
(Original synthesis pending human/AI review — generated by the stub provider by selecting real sentences from the source material, not by writing new analysis or commentary.)
Original source: Al Jazeera
Related Stories
The ugly math on interest expenses, yields and the $40 trillion U.S. national debt
The U.S. economy is better than it looks — but it might be due for a slowdown
Capital F closes $17M debut fund with goal to back the future of the ‘female economy’
