Follow-up – WAA
Official US data showed on Wednesday that the inflation rate in the United States slowed last month, but the core inflation index came in contrary to expectations.
The inflation rate in the United States slowed during last August to 2.5% on an annual basis, and the result was in line with experts’ expectations and lower than the previous month (July 2024), when the index recorded 2.9% on an annual basis.
However, core inflation, a measure of inflation that excludes food and energy prices, rose 0.3% in August, beating expectations for a 0.2% increase, and on an annual basis the index recorded 3.2%.
Following the data, the probability of the US Federal Reserve (the US central bank) cutting interest rates by 50 basis points in September fell to 15%.