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US INFLATION REMAINS ELEVATED AS GDP GROWTH OUTLOOK BRIGHTENS

  • NEWS Desk Global
  • 12 hours ago
  • 1 min read

Annual U.S. inflation held steady in July well above the Federal Reserve's 2% target for the 65th straight month, and the unexpected pause in the decline from a recent war-induced peak is likely to intensify the central ​bank's debate over whether interest rates should be lifted or held steady.

Government data released on Wednesday also showed consumer spending decelerating modestly last month — and flatlining against inflation — while personal incomes rose faster than inflation, ‌which could foreshadow an uptick in consumption as the year progresses.

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