© Reuters.
Inflation in August in the United States rose 3.7% year-on-year compared to 3.2% in July. An increase slightly higher than market expectations which showed inflation rising by 3.6%.
On a monthly basis, however, growth was 0.6% compared to +0.2% in July. The data is in line with analysts’ forecasts.
In the previous survey, relating to the month of July, the consumer price index in the United States rose by 3.2% on an annual basis compared to +3% in June. On that occasion the increase turned out to be lower than expected, given that analysts were betting on +3.3%.
The price remained little changed while awaiting the data on consumer prices. At the time of writing, the exchange rate was down 0.08% at 1.0743.
Wall Street’s three main indexes closed lower yesterday, weighed down by steep losses from Oracle (NYSE:) as the company recorded its worst day in more than 20 years on the back of a disappointing revenue forecast.
The index fell 1%, while the Average closed down 0.1% and the S&P 500 fell 0.6%.
Now we will have to wait for the Fed’s FOMC (Federal Open Market Committee) meeting scheduled for September 20th and 21st to understand whether the US regulator will decide to take a break from the monetary tightening policy or will opt for a further increase in interest rates.
The meeting comes after the August break. On the previous occasion, in July, the US central bank had decided to raise interest rates by a quarter of a percentage point, between 5.25% and 5.5%.
To learn more, read what inflation is. Also discover related events: what is deflation, what is stagflation, what is recession.
2023-09-13 12:46:00
#inflation #accelerates #expected #August #Investing.com
