US Inflation Slows to 3.4% in July
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Insights by Echo AI
The US consumer price index (CPI) rose 0.1% in July, with annual inflation slowing to 3.4%, down from 3.5% in June. Core CPI, which excludes volatile food and energy prices, increased 0.2% monthly and 2.5% annually. Housing and medical care services contributed to the monthly increase, while energy prices fell. The Federal Reserve is considering a potential interest rate hike next month.
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