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 Consumer Price Index rose 0.4 percent in August, led by higher shelter, food, and gasoline prices. Year over year, inflation is up 2.9 percent.
The Supplemental Nutrition Assistance Program (SNAP) was once again on the national stage, front and center this week before the House Agriculture Committee.
As the Trump Administration seeks out new global trade partnerships, Congress is considering more support for farmers, which comes as the Federal Reserve warns that farmers need a safety net.
Ag Secretary Brooke Rollins will travel to Europe and Asia to seek new trade partnerships for U.S. crops after China reduced imports due to tariffs.
