US inflation edged lower to 3.4 per cent in July as petrol prices declined, even as the fallout from Donald Trump’s war in Iran continues to reverberate across the economy.
Wednesday’s consumer price index figure from the Bureau of Labor Statistics was down from an annual rate of 3.5 per cent in June and in line with the expectations of economists polled by Bloomberg.
Core inflation, which strips out volatile food and energy prices, fell from 2.6 per cent to 2.5 per cent, suggesting underlying pressures remained moderate.
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