US Inflation Rate Slows to 2.9 Percent as Shelter, Motor Vehicle Insurance Remain High

Core inflation also dipped in July to 3.2 percent. The U.S. annual inflation rate slowed for the fourth consecutive month in July and came in below market forecasts, raising the odds of the Federal Reserve cutting interest rates in September. On a monthly basis, the CPI rose 0.2 percent, up from the 0.1 percent decline in the previous month. This was in line with market expectations. Core inflation, which omits the volatile food and energy categories, also slipped to 3.2 percent last month, down from 3.3 percent. The reading matched...