Inflation in the United States rose by 0,1% month on month in July, as expected and against +0,3% in June. Core inflation, followed by the Fed, net of energy and food product prices, grew by 0,1% on a monthly level, as in June and against an expected +0,2%. On an annual basis, inflation advanced by 2% and core inflation by 1,9%.
“US inflation took a step back in July to +2% yoy from +2,1% in June and against a consensus of 2%. However, this is not the beginning of a downtrend for the data”, commented Rob Carnell, economist at ING, to the Mf-DowJones agency, underlining that the core reading remained unchanged at +1,9%. “The gauge could have been weaker, as gasoline prices fell just 0,3% month over month, less than expected. Moreover, the numbers were affected by some one-off weaknesses on some components, such as tobacco".
