Shafaqna English– In July, the year-over-year inflation rate in the United States remained unchanged, continuing to hover significantly above the Federal Reserve’s 2% annual objective for the sixty-fifth consecutive month.
This unanticipated halt in the downward trajectory that had been underway since a recent peak triggered by geopolitical conflicts is expected to further complicate and sharpen the deliberations among central bank policymakers regarding the appropriate course of action for interest rates—whether to implement another hike or maintain the current level.
According to official government statistics published on Wednesday, consumer expenditure experienced a moderate slowdown in July and remained essentially unchanged in real terms when adjusted for inflation.
At the same time, personal income growth outpaced the inflation rate, a development that could signal an acceleration in consumer spending during the latter half of the year as households gain greater purchasing power.
Source: Reuters