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US consumer prices increase, Federal Reserve still likely to cut interest rates

US consumer prices increase, Federal Reserve still likely to cut interest rates

U.S. underlying consumer prices increased by 0.1% in June, the most in nearly 18 months and more than was predicted, amid gains in the costs of a range of goods and services. However, this is not expected to change expectations that the Federal Reserve will cut interest rates this month. The first interest rate cut in a decade is widely expected to be announced at the July 30-31 policy meeting.

aiden Brennan
aiden Brennan
Top in Business