Breaking: US annual CPI inflation edges lower to 5.3% in August as expected
|Inflation in the US, as measured by the Consumer Price Index (CPI), edged lower to 5.3% on a yearly basis in August from 5.4% in July, the data published by the US Bureau of Labor Statistics revealed on Tuesday. This reading matched the market expectation. On a monthly basis, the CPI arrived at 0.3%.
More importantly, the Core CPI, which excludes volatile food and energy prices, declined to 4% from 4.3%, compared to analysts' estimate of 4.2%.
Market reaction
With the initial reaction, the greenback came under renewed bearish pressure. As of writing, the US Dollar Index was down 0.2% on the day at 92.43.
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