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United States: inflation of 8.5% in July precedes new rate hikes

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The inflation of USA it left behind its marathon climb and progressed 8.5% in July, a rate somewhat lower than the 9% registered in the previous month, considered the highest level since the 1980s.

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The Bureau of Labor Statistics (BLS) reported on Thursday that the slowdown in this rate is a reflection of consumer prices that remained “stable” -growth of 0%-, leveraged by the 7.7% drop in gasoline.

The BCR will seek to contain inflation in the country to improve the quality of life of Peruvians most affected by post-pandemic economic crises. Photo: The Republic

The unit of United States Department of Labor He specified that energy prices weighed down around 4.6% in July, but with the mitigating growth of 32.9% in the last 12 months and a year-on-year growth in gasoline of 44%.

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Different situation for foods, which registered an evolution of 1.1% in their prices, accumulating an interannual variation of 10.9%.

Meanwhile, some officials of the fed have submitted almost in unison that the bank will insist with the raises rates “until I see strong and lasting evidence” that inflation is headed back to 2%, according to Reuters.

For Rent4 SAB, the data of CPI underlying of only 0.3% could reduce monetary aggressiveness in upcoming Fed meetings, thereby weakening the dollar.

At the local level, the Central Reserve Bank of Peru (BCRP) will hold a meeting today where it is expected to raise its reference rate by 50 basis points to 6.5%, in order to contain the inflation that hits the country.

Source: Larepublica

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