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U.S. core CPI rises in line with expectations in July

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Forexpros - Core consumer price inflation in the U.S. rose broadly in line with market expectations in July, official data showed on Thursday.

In a report, the Bureau of Labor Statistics said that consumer prices, less food and energy rose by 0.2% in July, in line with expectations, after rising by 0.3% in June.

Core consumer prices rose at an annualized rate of 1.8% after accelerating at a rate of 1.6% in June and above expectations for a 1.7% gain.

Consumer prices including food and energy costs rose 0.5% in last month, after declining by 0.2% in June.

Analysts had expected consumer price inflation to ease up by 0.2% in July.

Consumer prices increased at annualized rate of 3.6% in last month, exceeding forecasts for a 3.3% increase.

Following the release of the data the U.S. dollar was up against the euro, with EUR/USD shedding 0.28% to trade at 1.4388.

Meanwhile, U.S. stock index futures added to steep losses following the data.

The Dow Jones Industrial Average futures indicated a drop of 1.95%, S&P 500 futures tumbled 2.35%, while the Nasdaq 100 futures sank 2.3%.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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