UK Core Inflation Surges Beyond Expectations
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UK inflation heat puts Bank of England
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Consumer prices were up 2.7% in July from a year earlier, unchanged from June’s gain
The stock markets were unanimously pleased with the latest CPI inflation print. Check out my key takeaways from the latest CPI inflation report.
6don MSN
Wholesale inflation much hotter than expected in July — throwing possible wrench into rate cut hopes
The Producer Price Index saw its biggest monthly gain since June 2022, the Bureau of Labor Statistics said Thursday.
Massive downward revisions in July's jobs report last week fueled concerns that the labor market is softening too quickly, strengthening the case for rate cuts. But the hotter-than-anticipated inflation data could suggest the need for more restraint.
Governor Kathy Hochul has said New Yorkers will receive inflation rebate checks of up to $400 this fall despite proposed federal budget cuts that reduced aid to the state.
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.
1don MSN
Sharp rise in airfare and food costs pushed UK inflation higher in July, denting rate cut hopes
Higher food and airfare prices pushed U.K. inflation above expectations in July. The development has tempered market expectations that the Bank of England will cut interest rates again this year.
The annual rate of inflation cooled to 1.7 per cent in July, according to Statistics Canada, down from 1.9 per cent in June. Lower gasoline prices fuelled the decline, but the agency says Canadians were facing higher costs at the grocery store last month.