Inflation in the USA rose again slightly. Consumer prices rose 3.2 percent in July after 3.0 percent in June, according to the Washington Department of Labor. Experts polled by Reuters had expected a value of 3.3 percent. The rise is seen as a setback for the US Federal Reserve. She wants to curb inflation and make it dependent on the available data whether or not she raises interest rates further in September. When looking at the current figures, the currency watchdogs around Fed boss Jerome Powell also pay attention to the so-called core rate, which excludes the volatile prices for energy and food. That rate fell slightly to 4.7 percent. Economists had expected 4.8 percent. The indicator allows conclusions to be drawn about the basic inflation trends and is therefore very important for the Fed.
The Fed recently raised the interest rate range to 5.25 to 5.50 percent. Different signals came from the group of monetary watchdogs as to how to proceed: According to Director Michelle Bowman, further interest rate hikes are likely to be necessary to curb inflation. The head of the Atlanta Fed District, Raphael Bostic, recently saw no more need for increases.