From City AM: 2024-07-11 08:54:52

US inflation came in below expectations in June, with prices increasing 3.0% and consumer prices falling 0.1% in June. Economists believe this data may prompt the Federal Reserve to start cutting interest rates in September. Core inflation also decreased to 3.3%, supporting expectations for a rate cut. Investors responded positively, with the pound rising and the FTSE 100 climbing. Fed Chair Jerome Powell noted “modest further progress” in Congress, hinting at possible rate cuts in the future.



Read more at City AM: US inflation comes in below expectations after prices fall in June