US inflation cools on brief ceasefire but Fed keeps rate hike option
AI Summary
US inflation slowed more than expected in June led by lower energy costs, but the Federal Reserve has not ruled out further interest rate hikes amid continuing Middle East conflicts that keep market uncertainty high.
US consumer inflation slowed more than expected in June as energy prices retreated, but the moderation was insufficient to convince financial markets to take an interest-rate increase from the Federal Reserve this year off the table against the backdrop of renewed conflict in the Middle East. The Consumer Price Index (CPI) from the Labour Department on Tuesday also showed underlying inflation subsiding last month amid declines in the costs of motor vehicle insurance, communication, apparel,...