Economic TimesLean R·
US Fed rate hike bets rise after inflation edges up to 3.7%, higher than expectations
US inflation data showed a slight acceleration, challenging hopes for easing price pressures. The personal consumption expenditures price index rose 3.7% annually in July. Core inflation remained unchanged, indicating persistent underlying price pressures. This data increases the likelihood of the Federal Reserve raising interest rates soon. Markets now anticipate a higher probability of a September rate hike.
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