US inflation matches expectations, reducing need for tighter policy
July US inflation came in broadly in line with expectations, with headline CPI rising 0.1% m/m and core CPI increasing 0.2% m/m.
The core segment printed on top of expectations, growing 0.2% m/m, with a broad-based rebound in services and goods.
This was partly explained by still retreating energy prices and slowing food inflation.
The data is expected to translate into slightly softer core PCE inflation at 0.18% m/m.