UK Core Inflation Surges Beyond Expectations
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UK inflation heat puts Bank of England
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Governor Kathy Hochul has said New Yorkers will receive inflation rebate checks of up to $400 this fall despite proposed federal budget cuts that reduced aid to the state.
July’s Consumer Price Index report showed an acceleration in “core” prices that strip out volatile food and energy items.
Consumer prices were up 2.7% in July from a year earlier, unchanged from June’s gain
7don MSN
Wholesale inflation much hotter than expected in July — throwing possible wrench into rate cut hopes
The Producer Price Index saw its biggest monthly gain since June 2022, the Bureau of Labor Statistics said Thursday.
1don MSN
Sharp rise in airfare and food costs pushed UK inflation higher in July, denting rate cut hopes
Higher food and airfare prices pushed U.K. inflation above expectations in July. The development has tempered market expectations that the Bank of England will cut interest rates again this year.
Canada's annual inflation rate eased to 1.7% in July from 1.9% in the prior month as lower year-on-year gasoline prices kept the consumer price index low, data showed on Tuesday.
Prices in the UK rose by 3.8% in the year to July, driven mainly by a jump in the price of air fares and food. That means inflation is at its highest level since January 2024 and still far above the Bank of England's target of 2%,
The Canadian Press on MSN1d
Economists split on BoC's next rate move after July inflation data
Economists say they found some encouraging signs in the latest inflation numbers but some warn the Bank of Canada might need a bit more convincing to cut its key interest rate next month.
Japan's core inflation rate in July likely slowed from the previous month but remained above the Bank of Japan's 2% target, a Reuters poll showed, adding to pressure on the central bank to raise interest rates.