The United States year-over-year inflation rate accelerated its rise to 3.2% in July from 3% the previous month, marking the first rise in more than a year, according to the nation’s Labor Department’s Bureau of Labor Statistics.
The core inflation rate, which excludes the impact of food and energy price volatility, reached 4.7%, one tenth less than in June.
Then, the person in charge of the agency, Jerome Powell highlighted the moderation in the rise in prices observed recently, but has warned that the process of lowering inflation “has a long way to go”. The Fed chairman avoided commenting on whether the central bank will raise interest rates again at the next meeting in September and limited himself to defending that the decision will be taken based on the data.
