UK Inflation Accelerated to 18-Month High
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Air fares and food prices push up inflation
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The two Fed officials who dissented in July in favor of a quick interest-rate cut had only limited support from their colleagues during the policy discussion, minutes of the Fed's meeting show, indicating no hidden groundswell of support for a September rate cut.
Japan's core inflation rate in July likely slowed from the previous month but remained above the Bank of Japan's 2% target, a Reuters poll showed, adding to pressure on the central bank to raise interest rates.
UK inflation rose unexpectedly in July, led by energy and airfares, but core pressures remain nuanced. Markets signal BoE may pause in September.
The U.K.’s annual inflation rate hit a hotter-than-expected 3.8%in July, according to data released by the Office for National Statistics (ONS) on Wednesday. Economists polled by Reuters had anticipated inflation would reach 3.
Canada's annual inflation rate eased to 1.7% in July from 1.9% in the prior month as lower year-on-year gasoline prices kept the consumer price index low, data showed on Tuesday.
After somewhat positive inflation data in July, the chances of the Federal Reserve cutting interest rates in September are at roughly 83%, according to CME Group 's FedWatch tool calculations on Aug. 18. One month earlier, roughly 59% of traders betting on changes in the federal funds rate thought an interest rate cut would occur in September.
The cost of wholesale goods and services — where rising inflation tends to show up first — in July posted the biggest increase in three years, possibly heralding a sizable acceleration in price increases tied to higher U.
Consumer price inflation in France was stable in July and met analysts' expectations and the preliminary reading, statistics office INSEE said on Thursday.