He United States Consumer Price Index (CPI) has risen to 3.7% in the year-on-year reading for August, five tenths above the 3.2% in July, as published by the US Bureau of Labor Statistics.
The figure exceeds consensus expectations, which expected an increase to 3.6%. This is the highest inflation rate seen since May.
The monthly CPI has increased by 0.6% from 0.2% previously, as expected.
The Core inflation, which excludes energy and food prices, has moderated to 4.3% from the previous 4.7%, as expected. This is the lowest rate recorded by the indicator in 23 months, specifically since December 2021.
The monthly core CPI stood at 0.3%, above the previous and estimated 0.2%.
EUR/USD reaction
He EUR/USD has reacted to the data with a strong movement that has first headed downwards, falling to 1.0711 (new daily low) and then rising nearly 50 pips to 1.0760 (high of the day). At the time of writing, the pair is trading above 1.0748, losing 0.05% daily.
Source: Fx Street
I am Joshua Winder, a senior-level journalist and editor at World Stock Market. I specialize in covering news related to the stock market and economic trends. With more than 8 years of experience in this field, I have become an expert in financial reporting.
