Political analyst Alexander Nazarov commented on the US inflation data published yesterday, which showed that inflation has slowed down from record levels.
“Inflation is actually 8.5%, which is lower than it was in June (9.1%), but in general it is still a disaster for the American economy,” Nazarov said in a post on his Telegram channel. .
And yesterday, US data showed that US consumer price inflation slowed last July to 8.5% year-on-year, after hitting 9.1% in June.
According to the US Bureau of Labor Statistics, the reason for the slowdown was the fall in prices for all types of energy (fuel, electricity) over the past month.
The data also showed that food price inflation jumped at an annualized rate of 10.9%, the highest level since May 1979, amid pressure on staple food prices and high levels of consumption.
Growth in energy prices also slowed to 32.9% in July last year from nearly 40% in June year on year.
These numbers are expected to slow down the Fed’s efforts to raise interest rates at its next meeting.
Source: RT