WASHINGTON: US consumer prices increased broadly in July, but the signs of an acceleration in inflation will likely do little to change market expectations that the Federal Reserve will cut interest rates again next month amid worsening trade tensions.
Economists said the move still left a cloud over the US economy. Fears about the impact of the trade fight on the economic expansion, the longest in history, prompted the Fed to cut its short-term lending rate by 25 basis points last month for the first time since 2008.
The three-month core inflation rate jumped 2.8 per cent, the most in eight years, supporting the view that weak inflation readings earlier in the year were caused by transitory factors. Economists expect the new tariffs, which would affect mostly consumer goods, will boost inflation, regardless of the delays of duties on laptops, cell phones, video game consoles, certain toys, computer monitors, and certain footwear and clothing items.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Singapore Latest News, Singapore Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Morgan Stanley analysts say Fed to cut US rates in SeptemberMorgan Stanley analysts said on Monday that they now expect the U.S. Federal Reserve to cut rates in September and then again in October.
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
US inflation accelerates; Fed rate cut still expectedUS consumer prices increased broadly in July, but the signs of an acceleration in inflation will likely do little to change market expectations ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
Nike aims sneaker subscriber scheme at US$10 billion US kids marketNike Inc will launch a new subscription service for kids sneakers this week that seeks to woo parents with an offer of fewer nightmarish trips to ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
Oil drops on demand concerns, rising US shale outputLONDON: Oil prices dropped on Tuesday after see-sawing throughout the session as lingering concerns over global demand and rising U.S. output ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
US, Iran should defuse tensions, exercise restraint in Hormuz Strait: Koh Poh KoonSINGAPORE - Singapore, like many other countries, is deeply concerned about the escalating tensions in the Strait of Hormuz, and hopes all parties will act with pragmatism to resolve matters amicably, Senior Minister of State for Trade and Industry Koh Poh Koon said on Tuesday (Aug 13).. Read more at straitstimes.com.
Source: The Straits Times - 🏆 8. / 63 Read more »
US to delay China tariffs on some products, including laptops, cell phonesThe Trump administration will delay 10per cent tariffs on certain Chinese products, including laptops and cell phones, that had been scheduled to ... Impose tariffs on chinese products , end day consumers pay for it , end day the people that choose him pay for it , strangely i choose someone as President and end up paying more everyday , i wouldn't have chose him if i knew it
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »