US consumer prices rose 3.4% YoY in July, matching economists' forecasts and marking a second consecutive monthly deceleration, indicating easing price pressures. The Bureau of Labor Statistics reported July gasoline prices fell 2.9% MoM; Moody's Analytics chief economist Mark Zandi said average daily gasoline was about $0.10 lower than in June. Zandi added that, if there is no new escalation in the Iran conflict, inflation may have peaked and could continue to decline toward the Fed's 2% annual

US consumer prices rose 3.4% YoY in July, matching economists' forecasts and marking a second consecutive monthly deceleration, indicating easing price pressures. The Bureau of Labor Statistics reported July gasoline prices fell 2.9% MoM; Moody's Analytics chief economist Mark Zandi said average daily gasoline was about $0.10 lower than in June. Zandi added that, if there is no new escalation in the Iran conflict, inflation may have peaked and could continue to decline toward the Fed's 2% annual target by the same time next year.