Cooler-Than-Expected US Inflation Data Eases Fed Rate Hike Concerns

July's Consumer Price Index (CPI) showed a 0.1% month-over-month increase and a 3.4% year-over-year rise, with core CPI at 2.5%, all aligning with forecasts. Producer prices remained unexpectedly flat. This cooler-than-expected inflation data has helped to ease concerns about a potential September interest rate hike by the Federal Reserve.