US Inflation Slows in August, But Housing and Services Keep Pressure on Fed
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US: U.S. consumer prices increased slightly in August, though underlying inflation remained sticky, particularly in housing and other services. This raised doubts about the possibility of a half-point interest rate cut from the Federal Reserve next week. Following last week's data showing a cooling labour market in August, financial markets now expect a smaller, quarter-point rate cut. Ben Ayers, senior economist at Nationwide, noted, "The road to normal inflation hit a bump in August as lingering pressures for housing and service costs once again cropped up," making a smaller rate cut more likely.
Source: CU Insight