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US inflation exceeds expectations in July

US inflation exceeds expectations in July

The United States of America announced today data on inflation during the month of July, so that inflation from the consumer point of view has stabilized over the past month, in light of the Federal Reserve's monitoring of the developments of the US economy amid the developments of the Corona pandemic.

The consumer price index during the month of July rose by 0.6%, matching the previous reading, while it had been expected to rise by 0.3%.  As for the core CPI, it increased by 0.6%, and the previous reading was higher and expectations were higher by 0.2%.

The dollar levels fell during trading today, Wednesday, against a basket of major currencies, ending the attempts to achieve the gains witnessed by the dollar during the past three sessions, so that the dollar will return to decline with a new one while awaiting the announcement of a new stimulus package.

The dollar index, which measures the performance of the federal currency against a basket of 6 major currencies, is trading after the inflation news at the level of 93.40, and it had recorded its lowest level today at 93.36, while today's session opened at the level of 93.67.

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