US Core Inflation remains strong

    JN Fund Managers
    JN Fund Managers

    The United States’ (US) Consumer Price Index (CPI) rose by 0.2% in July month-overmonth, driven by higher fuel prices. This brought year-over-year (YoY) inflation to 2.9%. YoY Core CPI which excludes volatile commodities such as food and energy prices, was unchanged at 2.4%, its strongest reading since 2008. We believe as wage growth trends upwards, this and other underlying inflationary pressures in the US economy, underpinned by fiscal stimulus and rising raw material costs, may lead to a further rise in inflation.

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