Consumer prices in the United States have risen

Consumer prices in the United States rose slightly more than expected in July, but this is likely to alter little in the expectation that the Federal Reserve’s open market committee, the US Federal Reserve, will cut interest rates again at its next meeting due to escalating US-Chinese trade tensions.

The US Department of Labor’s Statistics Bureau announced on Tuesday that consumer prices increased by 1.8 percent year-on-year. Analysts expected 1.7 percent after the 1.6 percent in June.

Consumer prices increased by 0.3 percent month-on-month, in line with analysts’ expectations. In June and May, the rise was 0.1 percent. (MTI)