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Inflation

Inflation
Core PCE inflation rises 3.3% annually in July
United States consumer prices rose modestly in July, while the Federal Reserve's preferred measure of underlying inflation remained elevated, reinforcing uncertainty over the central bank's next policy move. The personal consumption expenditures (PCE) price index increased 0.2% on a seasonally adjusted basis in July, taking the annual inflation rate to 3.7%, according to the Commerce Department. Both readings were 0.1 percentage point above the Dow Jones consensus. Excluding volatile food and energy prices, core PCE rose 0.2% for the month and 3.3% annually, both in line with expectations. While the Fed monitors both measures, policymakers generally regard core inflation as a better gauge of underlying price trends. The report also showed personal income increased 0.4% in July, while consumer spending rose 0.2%, with both figures exceeding forecasts. Goods prices fell 0.1% during the month, led by a 2.7% decline in gasoline and other energy-related goods and a 0.9% drop in furnishings and durable household equipment. Services prices increased 0.3%, driven by a 1.2% rise in financial services and insurance and a 0.3% gain in housing costs. The data come as Fed officials assess their next policy move, with inflatio
Inflation
Australian inflation rises 3.5% in July
Australian consumer prices rose more than expected in July as fuel and travel costs increased, while underlying inflation also exceeded forecasts, adding to the risk of another interest-rate hike. Data from the Australian Bureau of Statistics (ABS) showed the annual Consumer Price Index (CPI) eased to 3.5% from 3.8% in June, but remained above market expectations for a slowdown to 3.3%. Monthly inflation rose 1.0% in July from June, above forecasts for a 0.8% increase. The monthly rise was driven in part by a 7.5% jump in automotive fuel prices after three consecutive months of declines. The trimmed mean measure of core inflation rose 0.5% over the month, its biggest increase in a year and well above forecasts for a 0.3% rise. The annual pace remained at 3.6%. Housing was the largest contributor to annual inflation in July, rising 5.0%. Food and non-alcoholic beverages increased 3.2%, while recreation and culture rose 2.6%. Rachael McCririck, ABS head of price statistics, noted: “Housing rose by 5.0% in the 12 months to July due to rising costs for New dwellings. New dwellings prices rose 5.7% in the 12 months to July as builders passed on higher costs for materials and labour.” Annual inflation for food and n
Inflation
US wholesale prices flat in July, below forecasts
US wholesale prices were unchanged in July, providing another indication that inflationary pressures may be easing and strengthening expectations that the Federal Reserve could keep interest rates on hold. The producer price index (PPI), which measures inflation at the wholesale level, was flat for the month, below economists' expectations for a 0.2% increase. The index fell 0.1% in June, a decline revised from the previously reported 0.3% drop, according to the Bureau of Labor Statistics. Excluding food and energy, core PPI rose 0.2%, below the 0.3% increase forecast. Core PPI excluding trade services advanced 0.4%. On an annual basis, headline PPI increased 4.7%, while core PPI rose 4.2%, based on unadjusted figures. The latest data follows several indicators pointing to a moderation in inflation after price pressures accelerated earlier this year amid the Iran war and President Donald Trump's tariffs. Services prices increased 0.2% in July, driven by a 6.5% surge in portfolio management costs, a category that can record unusually large increases at the beginning of each quarter due to reporting requirements. Goods prices declined 0.7%, supported by a 3.1% drop in energy prices, including a 5.7% fall in gasolin
Inflation
US consumer prices ease to 3.4% in July
United States consumer prices rose modestly in July, with inflation readings coming in line with expectations and reducing pressure on the Federal Reserve to raise interest rates at its September meeting. The consumer price index (CPI), a broad measure of goods and services costs, increased 0.1% on a seasonally adjusted basis during July, according to the Bureau of Labor Statistics (BLS). The annual inflation rate was 3.4%. Excluding food and energy, core CPI rose 0.2% for the month and 2.5% annually. All readings were in line with Wall Street forecasts, with both annual measures easing 0.1 percentage point from June. Although inflation remains above the Fed’s 2% target, moderate monthly readings in June and July suggest the energy-driven surge earlier in the year is easing. Prices remain volatile, however, amid changing conditions in the Middle East. Energy prices fell 1.5% in July following a 5.7% decline in June, although the sector remained 14.7% higher annually after sharp gains in previous months, including a 10.9% increase in March following the attacks against Iran. Food and shelter prices each rose 0.1% in July. Shelter accounted for about two-thirds of the monthly increase in the headline CPI, according to
Inflation
Australian inflation eases to 3.8% in June
Australia's annual inflation rate eased in June, although underlying price pressures remained unchanged as housing costs and electricity prices continued to drive inflation. The Consumer Price Index (CPI) rose 3.8% in the 12 months to June 2026, down from 4.0% in May, according to the latest data from the Australian Bureau of Statistics (ABS). Markets had expected headline inflation to remain steady at 4%. The trimmed mean inflation rate, the Reserve Bank of Australia's preferred measure of underlying price pressures, remained unchanged at 3.6% in the year to June. On a monthly basis, the CPI declined 0.1% in both original and seasonally adjusted terms. Housing was the largest contributor to annual inflation, rising 6.8% over the year, followed by food and non-alcoholic beverages and recreation and culture, both increasing 3.3%. ABS Head of Price Statistics Rachael McCririck said underlying inflation remained stable after removing the impact of large temporary price movements. “When we look through some of the bigger price movements, underlying inflation is steady at 3.6 per cent in the 12 months to June 2026. This is the same as in the 12 months to May 2026.” Housing inflation reflected higher electricity

Inflation
US wholesale prices fall as fuel costs ease
United States wholesale prices unexpectedly declined in June as a sharp drop in gasoline prices reinforced signs that inflation is cooling, providing further evidence that price pressures eased during the month. The Producer Price Index (PPI), which measures prices received by producers for goods and services, fell a seasonally adjusted 0.3% in June, according to the Bureau of Labor Statistics. Economists had expected the index to be unchanged. On an annual basis, producer prices increased 5.5%, well under market expectations of a 6.2% increase. The previous month's reading was revised sharply lower, with May's PPI now showing a 0.6% increase instead of the initially reported 1.1% rise. Core producer prices, which exclude the volatile food and energy components, rose 0.2% during the month, slightly below expectations for a 0.3% increase. A narrower measure excluding food, energy and trade services increased just 0.1% and was 5.1% higher than a year earlier. The report follows Tuesday's softer-than-expected Consumer Price Index (CPI) release, marking a second consecutive day of encouraging inflation data. Much of the improvement reflected lower energy prices, particularly after oil prices retreated during a bri
Inflation
US inflation cools to 3.5% as energy prices ease
United States consumer prices rose less than expected in June as a sharp decline in energy costs delivered the biggest monthly drop in headline inflation in more than six years, offering temporary relief from persistent price pressures. According to the Bureau of Labor Statistics, the Consumer Price Index (CPI) fell a seasonally adjusted 0.4% in June, bringing the annual inflation rate down to 3.5%. Markets had expected the CPI to decline 0.1% for the month, with annual inflation easing to 3.8% from May's 4.2% reading. The monthly decline in headline inflation was the largest since April 2020. Core CPI, which excludes the volatile food and energy categories, was unchanged during the month, slowing the annual core inflation rate to 2.6%. Markets had forecast monthly and annual increases of 0.2% and 2.9%, respectively, matching May's annual pace. The moderation was driven largely by a sharp fall in energy prices. The energy index dropped 5.7% in June, its steepest monthly decline since April 2020, although it remained 15.7% higher than a year earlier. Gasoline prices were still up 26.7% annually but fell more than 9% during the month, while fuel oil prices also declined by more than 9%. Services inflation, a
Inflation
Australian CPI eases to 4.0%; trimmed mean ticks up
Australia's Consumer Price Index (CPI), which measures household inflation and tracks changes in the prices of goods and services across categories of household expenditure, rose 4.0% in the 12 months to May 2026, according to fresh data from the Australian Bureau of Statistics (ABS), easing from a 4.2% increase in the previous period and coming in below market expectations of 4.4%. The largest contributors to annual inflation were Housing, which rose 6.5%, Food and non-alcoholic beverages, up 3.3%, and Transport, also up 3.3%. Trimmed mean inflation, a key measure of underlying price pressures, rose to 3.6% in the year to May, up from 3.4% in the previous month and slightly above market expectations of 3.5%. On a monthly basis, the CPI fell 0.7% in original terms and declined 0.1% in seasonally adjusted terms in May. Rachael McCririck, ABS head of prices statistics, said: “Annual CPI inflation in May was 4.0 per cent, down from 4.2 per cent in the year to April.” Housing remained the dominant driver of annual inflation, rising 6.5% over the year, reflecting higher costs for electricity, new dwellings and rents.Credit: Australian Bureau of Statistics (ABS)“Electricity costs are 21.1 per cent higher than 12 months ag
Inflation
US producer inflation hits over 3yr high
United States producer prices rose more than expected in May, recording their largest annual increase in three-and-a-half years as higher energy costs linked to the Middle East conflict fuelled inflationary pressures across the economy. According to the Bureau of Labor Statistics (BLS), the producer price index (PPI) for final demand increased 1.1% in May after an upwardly revised 1.1% gain in April. Economists had expected the index to rise 0.7% following a previously reported 1.4% increase in April. On an annual basis, producer prices climbed 6.5% in May, the strongest increase since November 2022. The year-on-year rise accelerated from 5.7% in April. The latest data adds to signs that inflationary pressures are building after hopes had emerged that easing oil prices would help moderate cost increases. Those expectations have faded as renewed tensions in the Middle East pushed energy prices higher. President Donald Trump said on Thursday that the United States would hit Iran "very hard tonight" and soon take control of the country's oil and gas infrastructure and markets. However, he later reversed course, saying the planned action had been cancelled as negotiations with Tehran progressed. The inflation r