US inflation decelerated in July by more than expected, reflecting lower energy prices, which may take some pressure off the Federal Reserve to continue aggressively hiking interest rates.
The consumer price index increased 8.5 per cent from a year earlier, cooling from the 9.1 per cent June advance that was the largest in four decades, Labor Department data showed Wednesday. Prices were unchanged from the prior month. A decline in gasoline offset increases in food and shelter costs.
So-called core CPI, which strips out the more volatile food and energy components, rose 0.3 per cent from June and 5.9 per cent from a year ago.
Economists in a Bloomberg survey projected a 0.2 per cent rise in the overall CPI from a month ago and an 8.7 per cent year-over-year increase. Core CPI was forecast to rise 0.5 per cent from June and 6.1 per cent from a year ago.
This story is from the August 11, 2022 edition of Business Standard.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 8,500+ magazines and newspapers.
Already a subscriber ? Sign In
This story is from the August 11, 2022 edition of Business Standard.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 8,500+ magazines and newspapers.
Already a subscriber? Sign In
Cargo captain
Shetty, the logistics leader who lives where Rajesh Khanna once did, takes DEV CHATTERJEE through his life that started at the docks, with some cinematic stopovers
Infosys slumps to 5-mth low on modest guidance
Firm expects BFSI to recover, which could be a key catalyst for revenue growth
Sebi proposes special call auction for price discovery of holdcos
The Securities and Exchange Board of India (Sebi) on Friday proposed a new framework for price discovery of listed investment holding companies (holdcos) to address the gap between their traded price and book value.
Motilal Oswal shares soar on bonus proposal
Shares of Motilal Oswal Financial Services (MOFSL) surged more than 7 per cent on Friday after the brokerage firm said its board was considering a bonus issue.
enchmark indices snap four-day losing streak
Equity benchmark indices snapped their four-day losing streak to end Friday's session higher amid some short covering and a surge in index heavyweight HDFC Bank.
₹ hits new intraday low, bond yields surge
The rupee hit a new intraday low of 83.57 against the US dollar on Friday as geopolitical tensions escalated in West Asia but pared losses after Iran downplayed the impact of an Israeli missile attack.
HDFC AMC profit jumps 37% in FY24
HDFC Asset Management Company (AMC) on Friday reported a 37 per cent jump in net profit at 1,943 crore for the financial year 20232024 (FY24).
Vi FPO subscribed 49% on Day 2
The follow-on public offering (FPO) of Vodafone Idea (VIL) saw 49 per cent subscription on Friday, a day before its close.
HDFC Bank shares gain ahead of results
Increase in FPI legroom seen as key trigger
MFs pare exposure to banks, NBFCs in fourth quarter
This comes amid persistent margin pressure, regulatory issues
