Market updates and forecasts

Get the latest economic news from ForexMart, including updates on the financial market, central banks' policy announcements, financial indicators, and other relevant news which can have an impact on the industry.

Disclaimer:  Information provided here to retail and professional clients does not contain and should not be construed as containing investment advice or an investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance.

Inflation in the US in June slowed down more than forecast


July, 12 2023
watermark Economic news

According to the US Department of Labor, consumer prices (CPI index) in June increased by 3% compared to the same month last year. This means a slowdown in inflation compared to 4% in May and is the lowest level since March 2021. It is worth noting that the price growth has been declining for 12 months in a row. The consensus forecast assumed inflation at 3.1%.


On a monthly basis, the CPI index increased by 0.2% (in May it was 0.1%). Analysts' forecast suggested growth of 0.3%.


At the same time, the core inflation indicator (price growth excluding the cost of food and energy, the Core CPI index) slowed to 4.8% YoY, which is the lowest level since October 2021. In May, this indicator increased by 5.3%. Experts expected growth of 5%.


On a monthly basis, core inflation rose by 0.2% after rising by 0.4% in May. The market expected an increase of 0.3%.


Energy prices declined by 16.7% after falling by 11.7% in May, while food prices rose by 5.7% after rising by 6.7% in the previous month.


The US Federal Reserve is closely monitoring data on the growth rates of consumer prices in the country, as they are an important factor in making decisions regarding monetary policy. The Central Bank's target inflation rate is 2%. The next meeting of the Federal Reserve System will be held on July 25-26.


Feedback

ForexMart is authorized and regulated in various jurisdictions.

(Reg No.23071, IBC 2015) with a registered office at Shamrock Lodge, Murray Road, Kingstown, Saint Vincent and the Grenadines

Restricted Regions: the United States of America, North Korea, Sudan, Syria and some other regions.


© 2015-2024 Tradomart SV Ltd.
Top Top
Risk Warning:
Foreign exchange trading carries a high risk of losing money due to leverage and may not be suitable for all investors. Before deciding to invest your money, you should carefully consider all the features associated with Forex, as well as your investment objectives, level of experience, and risk tolerance.
Foreign exchange trading carries a high risk of losing money due to leverage and may not be suitable for all investors. Before deciding to invest your money, you should carefully consider all the features associated with Forex, as well as your investment objectives, level of experience, and risk tolerance.