Inflation Figures Announced in the US

The highly anticipated US inflation data was announced in global markets.

Global markets turned their attention to the US inflation figures this week, as market actors will influence the course of the dollar and the steps to be taken by the Fed ahead of the Fed's interest rate decision. Analysts noted that the latest inflation data was the first significant sign of easing and could ease some of the pressure on the US Federal Reserve (Fed) to aggressively raise interest rates. CPI in the US increased by 0.1 percent in August, in line with expectations. Core CPI increased by 0.6 percent, exceeding the expectation of 0.3 percent. Annual inflation also came in above expectations at 8.3%. After hitting a 41-year high of 9.1% in June, inflation fell to 8.5% in July, the second consecutive month of decline. The decline was driven by the fall in fuel prices in the US. The data was also below market forecasts of 8.7%. Inflation excluding food and energy was 6.3%. Both headline and core inflation declined less than expected. There was a 10.6% drop in gasoline prices in the last month. Although energy prices fell by 5% due to the fall in gasoline prices, electricity and natural gas prices increased. The rise in food prices continued. In August, rent, health care, insurance, education, and household goods increased, while airfare and communication decreased. Follow Global Economic Developments on Social Media! Click here to follow Ieconomy official Facebook account! Click here to follow Ieconomy official Instagram account! Click here to follow Ieconomy official Twitter account!