U.S. inflation eased in July, with consumer prices rising 3.4% year over year, matching the 3.4% forecast and slowing from 3.5% previously. Consumer prices rose 0.1% month over month, also in line with expectations. Core CPI, which excludes food and energy, increased 0.2% month over month and 2.5% year over year, both matching forecasts. The data keeps the Federal Reserve’s next rate decision in focus, with investors watching how the reading affects expectations for future rate cuts and broader markets.
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