Inflation edges higher as Fed prepares for next meeting

Federal Reserve

US headline inflation edged closer to the Federal Reserve’s target in July, as the central bank considers whether to cut rates further in the next meeting.

Year-on-year inflation rose 0.1 percentage points to 1.4%, and core inflation stood still at 1.6%, the latest data release shows.

Both figures remain below the central bank’s 2% target, ahead of the next Federal Open Market Committee meeting on September 17–18.

Consumer spending continues to be a key driver of US growth. Data shows it

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