The markets will now be most certainly expecting an interest rate cut next month after today’s brand new inflation read. The Consumer Price Index is in line with expectations.
The CPI for July came in at 0.2 percent, which is exactly what the markets were expecting. On the year, it landed at 2.7 percent, which is one-tenth below what analysts were preparing for.
Numbers show shelter costs were the largest contributor to inflation last month.
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The setback leaves the 2018 Farm Bill operating under its third consecutive extension. That authorization expires September 30.
USDA price-index data shows the producer index for all potatoes fell 14.5 percent from last year and 18.2 percent from five years ago.
The Senate Agriculture Committee’s failure to advance the bill means negotiations will continue as lawmakers look for a path forward before the end of the year.
Sen. Roger Marshall says Democrats rejected legislation over SNAP provisions despite bipartisan farm priorities.
