{
  "id": 667543,
  "title": "US inflation cools slightly to 3.4pc in July",
  "url": "https://urgent.news/2026/08/12/us-inflation-cools-slightly-to-3-4pc-in-july",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-08-12T13:40:03.000Z",
  "source": {
    "name": "RTHK News - Finance",
    "slug": "rthk-news-finance",
    "url": "https://news.rthk.hk/rthk/en/component/k2/1865943-20260812.htm"
  },
  "original_language": "en",
  "account": "US consumer inflation decelerated marginally to 3.4% in July, according to government figures, despite volatile oil prices stemming from the Iran conflict, which could provide the Federal Reserve with breathing room for potential interest rate adjustments, the data suggested. The Consumer Price Index (CPI) increased by 0.1% compared to the previous month but exhibited a year-on-year decline. July's inflation figures aligned with the projections of economists surveyed by Dow Jones Newswires and the Wall Street Journal. US consumers have endured more than five years of price surges since the onset of the pandemic, and despite this July's data showing some inflation easing, it still remains substantially higher than the Federal Reserve's two-percent long-term objective. Nevertheless, the recent easing in inflation may afford the central bank some flexibility ahead of possible rate hikes. The inflation surge followed President Donald Trump's initiation of the Iran war in late February, as Iran retaliated, effectively blocking the crucial Strait of Hormuz, a vital route for a fifth of global energy supplies. Consumer inflation was at 2.4% in February, before surging to a three-year peak of 4.2% in May. Energy prices continued to drive the inflation rate in July, with gasoline prices rising 24.6% year-on-year. Fuel oil, utilized by households for heating and industrial purposes, climbed 39.1% from the prior year. Yet, the energy index remained 1.5% lower than a month earlier, indicating a decreasing trend for these commodities' prices as negotiations to conclude the war persisted. Core CPI, which excludes volatile food and energy costs, climbed 2.5% from a year ago.",
  "summary": "US consumer inflation slowed slightly to 3.4 percent in July despite turbulent oil prices due to the Iran war, government data showed, with the figures likely giving the Federal Reserve room to breathe on interest rates. The consumer price index (CPI) rose 0.1 percent from a month earlier, but fell on a year-on-year basis, according to data released by the US Bureau of Labor Statistics on…",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 12,
    "also_reported_by": [
      {
        "outlet": "FXStreet",
        "title": "US CPI data set to show softer inflation in July as markets reassess Fed rate hike bets",
        "url": "https://urgent.news/2026/08/12/us-cpi-data-set-to-show-softer-inflation-in-july-as-markets-reassess",
        "published": "2026-08-12T08:30:00.000Z"
      },
      {
        "outlet": "Hindu BusinessLine",
        "title": "Groww adds over 70,000 active clients in July: NSE data",
        "url": "https://urgent.news/2026/08/12/groww-adds-over-70-000-active-clients-in-july-nse-data",
        "published": "2026-08-12T09:56:45.000Z"
      },
      {
        "outlet": "The Economic Times - Economy",
        "title": "India’s July inflation quickens to 4.45% from 4.38% in June, stays above RBI target",
        "url": "https://urgent.news/2026/08/12/indias-july-inflation-quickens-to-4-45-from-4-38-in-june-stays-above",
        "published": "2026-08-12T10:34:13.000Z"
      },
      {
        "outlet": "Times of India",
        "title": "CPI data: Retail inflation moves up to 4.45% in July; above RBI's target for 2nd month",
        "url": "https://urgent.news/2026/08/12/cpi-data-retail-inflation-moves-up-to-4-45-in-july-above-rbis-target",
        "published": "2026-08-12T10:53:40.000Z"
      },
      {
        "outlet": "CNBC World",
        "title": "India’s inflation accelerates to 4.45% in July, raising hopes of a rate hike later this year",
        "url": "https://urgent.news/2026/08/12/indias-inflation-accelerates-to-4-45-in-july-raising-hopes-of-a-rate",
        "published": "2026-08-12T11:01:06.000Z"
      },
      {
        "outlet": "Business Recorder",
        "title": "India July inflation accelerates to 4.45%, unlikely to alter RBI rate outlook",
        "url": "https://urgent.news/2026/08/12/india-july-inflation-accelerates-to-4-45-unlikely-to-alter-rbi-rate",
        "published": "2026-08-12T11:21:45.000Z"
      },
      {
        "outlet": "Guardian Business",
        "title": "US inflation cooled slightly to 3.4% in July, according to latest data",
        "url": "https://urgent.news/2026/08/12/us-inflation-cooled-slightly-to-3-4-in-july-according-to-latest-data",
        "published": "2026-08-12T12:39:46.000Z"
      },
      {
        "outlet": "The Hill",
        "title": "Inflation fell in July as Iran war marches on",
        "url": "https://urgent.news/2026/08/12/inflation-fell-in-july-as-iran-war-marches-on",
        "published": "2026-08-12T12:46:18.000Z"
      },
      {
        "outlet": "WSJ Economy",
        "title": "The inflation rate cooled to 3.4% in July, the Labor Department said Wednesday, lower than June’s 3.5%",
        "url": "https://urgent.news/2026/08/12/the-inflation-rate-cooled-to-3-4-in-july-the-labor-department-said",
        "published": "2026-08-12T13:03:00.000Z"
      },
      {
        "outlet": "CBS News",
        "title": "CPI report shows inflation eased in July to a 3.4% annual pace",
        "url": "https://urgent.news/2026/08/12/cpi-report-shows-inflation-eased-in-july-to-a-3-4-annual-pace",
        "published": "2026-08-12T13:05:05.000Z"
      },
      {
        "outlet": "NPR",
        "title": "Inflation eases in July as gasoline and grocery prices fall",
        "url": "https://urgent.news/2026/08/12/inflation-eases-in-july-as-gasoline-and-grocery-prices-fall",
        "published": "2026-08-12T14:00:29.000Z"
      }
    ]
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}