US: Core Inflation Takes Another Step in the Right Direction in July 

<p>The Consumer Price Index (CPI) rose 0.2% month-on-month (m/m) in July, bang-on the consensus forecast. On a 12-month basis, CPI inched 0.2%-pts higher to 3.2%, though this was due to unfavorable base-effects stemming from a sharp decline in July 2022 energy prices. In contrast, energy costs had a much smaller effect on July’s gain – […]</p>
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