According to data released by the US Department of Labor on August 12, the US consumer price index rose 3.4% year on year in July. After excluding food and energy prices, the US core CPI rose 2.5% year on year in July. Analysts pointed out that due to factors such as the gradual easing of the US-Iran conflict and the sharp drop in oil prices, US inflation declined more than expected in June. However, crude oil prices fluctuated upward again in July, and the New York Stock Exchange's main crude oil futures contract rebounded by more than 20% throughout the month. Geographic risks once again put upward pressure on inflation. Currently, the US inflation level is still far above the Fed's 2% target. As for the Fed's possible interest rate path, the CME “Federal Reserve Watch Tool” shows that the probability that the Fed will keep interest rates unchanged at the September interest rate meeting is 54.1%, and the probability of raising interest rates by 25 basis points is 45.9%. Reuters pointed out that the high cost of living has weakened the confidence of many Americans in the Trump administration, and inflationary pressure may adversely affect the Republican Party election in November's midterm elections.

According to data released by the US Department of Labor on August 12, the US consumer price index rose 3.4% year on year in July. After excluding food and energy prices, the US core CPI rose 2.5% year on year in July. Analysts pointed out that due to factors such as the gradual easing of the US-Iran conflict and the sharp drop in oil prices, US inflation declined more than expected in June. However, crude oil prices fluctuated upward again in July, and the New York Stock Exchange's main crude oil futures contract rebounded by more than 20% throughout the month. Geographic risks once again put upward pressure on inflation. Currently, the US inflation level is still far above the Fed's 2% target. As for the Fed's possible interest rate path, the CME “Federal Reserve Watch Tool” shows that the probability that the Fed will keep interest rates unchanged at the September interest rate meeting is 54.1%, and the probability of raising interest rates by 25 basis points is 45.9%. Reuters pointed out that the high cost of living has weakened the confidence of many Americans in the Trump administration, and inflationary pressure may adversely affect the Republican Party election in November's midterm elections.