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.
Related Stories
The FAO Food Price Index for October 2023 is out. Where do global food prices stand, and which categories saw the largest gains?
Experts: Dairy industry outlook could be improving based on strong butter demand, herd number trends
Falling feed costs and strong demand for butter could be good news for dairy farmers looking to get their finances back on track.
Now that Washington lawmakers have passed a 45-day stopgap, they have some breathing room to work through some hot-button topics like the high cost of the upcoming Farm Bill, which is due in large part to the funding necessary to support the Nutrition Title.
Egg prices have been on a roller coaster this year, soaring sky-high and falling back down to Earth in just a few months.
In June, prices were down 77% compared to the highest weekly price in 2022.
According to the USDA Outlook Board, margins could improve for producers depending on a decrease in cases of High-Path Avian Flu (HPAI).
