-11122024742.png)
-11122024742.png)
US Inflation: Without Notable Decline
US consumer prices rose by 0.1% m/m (weaker than expected 0.0%). Annual inflation slowed from 3.2% to 3.1%. Core (excluding food and energy) rose 0.3% m/m, maintaining its annual growth rate of 4.0%.
Overall inflation has stabilised at levels above 3% y/y since June, with no meaningful downward progress. The nominal CPI has added over 1.4% in the meantime.
The core index stabilised at twice the target. Monthly growth rates for the last six months also show no signs of slowing down.
Strictly speaking, with this data, the Fed has no reason to sing a victory song over inflation on Wednesday night. This is moderately positive data for the US dollar, justifying the Fed’s ‘rates higher for longer’ motto. Nevertheless, the markets seem to have saved the main reaction for the FOMC outcome on Wednesday evening, as in the end, it is not so much the data that matters but the central bank’s interpretation of it.
By the FxPro Analyst Team
What is ahead: US PCE & Germany CPI
The tedious seesaw for gold is about to end
Fed hawks lower expectations for Powell’s Jackson Hole speech
GBP/USD: Friday correction after surge
The dollar finds its footing, but the Fed holds the cards
EBC Markets Briefing | Gas prices jump following huge Russian attack
Markets Brace for Powell’s Speech: Gold and Silver Slip, Oil Rallies, Currencies Hold Steady | 22nd August 2025
