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2w ago

U.S. Inflation Holds at 2.7% in July as Markets Price in September Fed Cut

Markets repriced Fed policy for a September easing after core inflation rose to 3.1%, with Argentina forecasting 1.8% inflation for July ahead of tomorrow’s release

16-04-2025 Buenos Aires Inflación alimentos góndolas supermercado - Comestibles Aumento de precios. Foto: Luciano  Thieberger. FTP CLARIN
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Overview

  • The U.S. headline consumer price index remained unchanged at 2.7% year-on-year in July, matching June’s increase.
  • Core inflation climbed to 3.1% year-on-year as higher shelter and used-car costs offset dips in energy and food prices.
  • Treasury yields fell after the CPI report and futures markets lifted the odds of a September rate cut to roughly 95%.
  • Economists caution that Trump-era tariffs have been largely absorbed by firms so far but are expected to push consumer prices up in the coming months.
  • Argentina’s INDEC will publish July’s CPI on August 13, with private surveys projecting about 1.8% monthly inflation and watching for peso-driven price pass-through.