Forex News

US consumer prices retreat in August

US consumer prices retreat in August

Today, the United States of America released data on inflation rates during the month of August that witnessed that the CPI retreated compared to July's reading, which indicated the negative impact of the Corona crisis on the price levels.

The consumer price index for August recorded a rise of 0.4%, less than the previous reading by 0.6%, and expectations were for a rise of 0.3%.

The core reading witnessed a similar increase of 0.4%, compared to the previous reading of 0.6%, and expectations were 0.2%.

On the annual level, the CPI increased by 1.3% from a previous increase of 1%, while the annual core index increased by 1.7% from a previous increase of 1.6%.

The better than expected inflation data failed to support the US dollar to rise today, as the dollar index continued trading at the level of 93.24, where it recorded its lowest level at 93.10.

Share Article