Many US central bankers are concerned that persistently high inflation will lead to rapid price rises becoming embedded in the world’s largest economy, minutes of the Federal Reserve’s latest policy vote highlight.

Annual inflation slowed for the second month in a row, cooling to 3.4% in July as prices at the pump delivered less of a bite, according to new data released Wednesday by the Bureau of Labor Statistics.

The 12-month rate of inflation as of July 2026 is 3.4%, according to the Bureau of Labor Statistics (BLS). Energy inflation spiked to 14.7% as the status of the Strait of Hormuz remains uncertain. Core inflation, which excludes energy and food, was 2.5%.

The Consumer Price Index is the most commonly used measure of inflation in the United States. The CPI for all items increased by 0.9% in March 2026, on a seasonally adjusted basis, as reported by the U.

Ahead of the open London's blue chips are tipped to open around 27 points higher on Friday, riding a wave of overnight optimism. The tone was set on Wall Street, where the S&P 500 closed at a record and the Nasdaq hit a two-month high.

By Sukanya Mitra Aug 12 (Reuters) - Gold rose to a more than two-month high on Wednesday after a U.S. inflation reading matched expectations, bolstering bets that the Federal Reserve will keep rates on hold in September.

The Fed actually hasn't voted to raise its benchmark interest rate in more than three years. In 2025, the Federal Open Market Committee cut three times during the latter part of t

President Donald Trump again pressured the Federal Reserve to lower its benchmark for interest rates, insisting rates are “artificially high” the same day the Treasury Department announced the U.S. na