BLS: July CPI up 0.1% MoM SA; core CPI (ex food and energy) up 0.2% MoM. YoY
headline CPI +3.4%, core +2.5%. CNBC reports the modest monthly prints,
following a similarly soft June, indicate the earlier energy-driven pickup in
Inflation is easing and could reduce the Fed’s near-term rate-hike urgency.
Inflation remains materially above the Fed’s 2% target, price moves are volatile
and remain exposed to developments in the Middle East.