The consumer price index for urban consumers (CPI-U or more commonly just CPI) rose 0.5% in July from June, matching consensus expectations, and slowing from June’s 0.9% increase. July’s increase was the lowest since February. Energy prices rose 1.6% in July on a 2.4% increase in gasoline prices. Food prices rose 0.7% on the month, […]
As expected, the European Central Bank strengthened its forward guidance regarding interest rates at its July 22 Governing Council Decision. The decision was the first after their announcement of a more dovish monetary policy strategy on July 8. The Governing Council now “expects” to keep interest rates at current or lower levels until two criteria
The Bank of Mexico (Banxico) surprised with a 0.25 percentage point hike in their policy interbank rate at the June 24 Monetary Policy Committee meeting, raising the rate to 4.25%; no economists surveyed by Bloomberg prior to the decision had expected a hike. Banxico’s announcement cited the jump in U.S. CPI inflation to the highest
The consumer price index for all urban consumers rose 0.6% in May vs 0.5% expected and 0.8% in April. In year-over-year terms, CPI inflation accelerated to 5.0% in May from 4.2% in April and was the highest since August 2008. But since consumer prices fell last April and May as the economy entered free-fall, the
