US Inflation Slows Down Faster-Than-Expected in July, Fed Future Hikes Closely Watched

The Consumer Price Index (CPI) of the United States of America slowed down to 8.5% in July, beating economists forecast of 8.7% after hitting a fresh 40-year high of 9.1% in June.

Still, the annualized CPI remains around at its highest level in four decades.

Meanwhile, core CPI which excludes volatile food and energy prices remained at 5.9% on a yearly basis.

Investors are now speculating on the US central bank’s next move on its policy interest rate after a 75 basis point hike previously.