US core CPI picks up on services; goods inflation more subdued

July CPI: Service Prices, Not Goods Prices, Drive Core

US core CPI picks up on services; goods inflation more subdued

Underlying U.S. inflation accelerated in July by the most since the start of the year, though a tepid rise in the costs of goods tempered concerns about tariff-driven price pressures.

Fed stays on course as services lift U.S. prices in July

The July consumer price report landed a touch firmer than forecasters expected, with core CPI rising 0.32% on the month and 3.1% year over year. You can see the mix shifting: goods inflation eased while services picked up. For many households, that means the price of stuff felt steadier, while travel and some care costs moved up. Goods signal softer tariff effects Core goods rose 0.3% month over month, but the detail matters. Excluding used cars…

US CPI Inflation Landed Close to Expectations - Action Forex

In the US, July CPI landed close to expectations on both headline (+0.19% m/m SA, June +0.29%, forecast +0.2%) and core terms (+0.32% m/m, June +0.23%, forecast +0.3%). Surprisingly, the modest uptick in core inflation was mostly driven by services. This would typically be seen as a sign of sticky inflation and hence interpreted as a hawkish signal. However, the fact that core goods and food inflation remained stable at still modest levels allev…

US inflation holds below 3% with core prices climbing; Fed stays ...