United States consumer prices miss forecasts; dollar down to one-week low

US wholesale prices edged down 0.1 percent in July

US wholesale prices edged down 0.1 percent in July

Economists polled by Reuters had forecast the CPI rising 0.2 percent in July. But she has also indicated that if her view is proven wrong, she is ready to support a change in the Fed's plans for rate hikes.

The dollar fell on the inflation data, as markets felt it made the prospects of further rate rises less likely.

The Consumer Price Index (CPI) measure of inflation is forecast to hit 2.7% for July, up from 2.6% in June, according to consensus figures.

United States consumer prices miss forecasts; dollar down to one-week low
United States consumer prices miss forecasts; dollar down to one-week low

The PPI for the latest 12 months also shrank, falling a tenth of a point from June to 1.9 per cent. Food prices rose 0.2 per cent after being unchanged in June.

At the time of the report, the Euro was down 0.17% against the Dollar at $1.1752, with the Euro aiming for $1.18 levels should Eurozone inflation figures impress and U.S numbers disappoint through the day.

He added, "By then the weaker dollar should be boosting the price of imported goods and the transitory declines this year will drop out of the inflation calculation".

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Investors instead turned to safe-haven assets such as gold, pushing it to a two-month high, and the Japanese yen JPY= rose. ET (1308 GMT), the Canadian dollar was trading at $1.2693 to the greenback, or 78.78 US cents, down 0.2 per cent.

The Labour Department yesterday said its Consumer Price Index (CPI) edged up by 0.1 per cent last month after being unchanged in June.

"Overall, although core inflation remains soft, Fed expectations of a rebound early next year look reasonable enough", said Paul Ashworth, Chief US Economist at Capital Economics. The weakness in US inflation has not yet waned. Excluding energy services, there was a 0.2% increase in prices for the third successive month to give a 2.4% annual increase.

Evans said that "unless the data and the forecast change dramatically" he believed the Fed could wait until December before moving again to boost its benchmark rate, which is now at a still-low level of 1 percent to 1.25 percent.

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Official sources in the Bhutanese Government said, "Our position on the border issue of Doklam is very clear". Both Bhutan and China have competing claims over the region.

Drilling into the details, there's been a large drop in mobile phone costs in recent months, due to intensified price discounting - prices are down 13% on year ago level thanks to a move to unlimited data plans by many phone retailers.

The Fed targets consumer price inflation as measured by the Personal Consumption Expenditures price index, but some of the factors are the same across all inflation measures.

Wall Street's widely followed measure of market anxiety, the CBOE Volatility index, was up 0.79 points at 16.77 on Friday, its highest since November. Last month, the gasoline, natural gas and home heating oil all showed declines.

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Investigators believe McCarthy got out of his vehicle and shot at Officer Michael, killing him. The rife meets the description of the weapon used in the murder of Officer Gary Michael .

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